Ex Google & Microsoft Execs Raise $3M from Mousse Partners & Montane Ventures for 'Mavin'
Large corps like Google and Microsoft applauds new product, ‘Mavin Motion’ which helps app engagement by harnessing real time events
Photo Credit : shethepeople.tv,
2 of 3 Mavin cofounders, Raina and Shailesh
In the race to engage and retain consumers, the app industry continues to lag behind social media, where trending topics and memes continue to win mind share for brands. Today, that changes with the launch of ‘Mavin Motion’, the only end-to-end platform enabling apps to capitalize on events and trends as they happen to better engage their audiences over the long-term. Alongside the launch of the platform, Mavin is revealing a 3 million dollar round of funding from Mousse Partners and Montane Ventures to bring Mavin Motion to new markets and expand their offerings.
Despite the rise of automated push notifications and promotions, apps are failing to keep pace with consumers’ expectations for dynamic, interactive, and seamless app experiences. More than 50% of consumers find push notifications annoying and distracting, and up to 60% of people opt-out of them entirely. Furthermore, given competition in App Stores, apps often prioritize expensive user acquisition rather than focusing on delighting their existing base. Much of the money spent to acquire new users is wasted, however, as almost 25% of apps are uninstalled after only one use. Mobile apps are integral to consumers’ lives, but the industry has not innovated fast enough.
Mavin saw these challenges and identified a crucial piece missing in app engagement today: real-time campaigns that draw upon events, topical trends, and global sentiment – all of which change by the hour. As opposed to weeks or months in advance, apps can now use Mavin Motion to create, deploy, and manage campaigns and promotions in a matter of hours, and optimize them on-the-fly to drive high-value actions. By leveraging topical news, alongside long-lead seasonal events, apps can increase value over the entire customer lifecycle. Mavin Motion is built for both.
“Our experience engaging millions of consumers has shown us that people are hungry for new ways to engage with their favorite apps and brands, but they aren’t waiting around for them to innovate. This is particularly true in the US, where people have myriad apps to choose from, and often abandon them quickly,” said Shailesh Nalawadi, cofounder and CEO of Mavin. “That’s why we created Mavin Motion as the only full-service solution for apps that brings speed and spontaneity to drive engagement and ultimately create a loyal base of customers.”
Following integration with Mavin Motion, apps have seen higher conversions, lower acquisition costs, higher retention, and repeat high-value actions. Saavn, India’s top music streaming platform, is an early adopter of the platform and has seen triple the engagement as compared to the average app session. Furthermore, 40% of Saavn users completed a critical enrollment step in exchange for sponsored data to listen to music without incurring costs.
With deep experience in emerging markets, Mavin has worked with more than 30 companies, reaching more than 2 million consumers to date.
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