This year the app marketplace passed some big milestones. The industry has grown, generating $120 billion in revenues while continuing to create jobs and reshape key sectors of the economy. ACT | The App Association’s member companies are at the forefront of this year’s class of leading innovators.
The connected health sector is a key area of growth attracting over $4.3 billion in venture funding over the past year. Our member companies made their mark here. Florida-based CareSync, which makes patient medical records accessible through a comprehensive Health Timeline,™ secured $18 million in Series B funding as its userbase grew 20-fold in just four months. The company’s remarkable contributions led the White House to honor COO Amy Gleason as a “Champion of Change” for its Precision Medicine Initiative.
In Austin, Texas, two-year-old telemedicine company Chiron Health raised $2.3 million in seed funding. With a nimble team of 13 employees, Chiron Health integrates with leading electronic health record companies like athenahealth and Allscripts.
A significant marker for many companies is a debut on the New York Stock Exchange. In 2015, that was the case for collaboration and messaging app maker, Atlassian. With clients ranging from enterprise users like Nordstrom and Tesla to individuals and families, the company’s December IPO surpassed expectations, and it is now valued at more than $5 billion.
Another member company, AppNexus, is projected by analysts to go public after a successful 2015. As the largest independent ad tech company in the world, AppNexus has raised more than $288 million in funding to date, and is valued at $1.2 billion due to its strategic partnerships and innovative approach to ad tech. This year, AppNexus became Microsoft’s exclusive programmatic advertising partner in 10 markets, and a lead technology partner in 39.
Of course, the app economy expands far beyond the neatly packaged icons a consumer sees on a mobile device. While individuals may not touch or feel the end product, many of our member companies create technology that is integral to the most recognizable companies in the world.
SheerID from Eugene, Oregon makes verification services for the nation’s biggest retailers. The company raised more than $5.3 million in a funding round in late September. SheerID’s contributions to the local community are also widely recognized. Recently, CEO Jake Weatherly was named to The Register-Guard’s top 20 business leaders under 40.
This is just a small sample of the incredible year our members have had. We look forward to seeing all the innovation to come in 2016. Cheers!