Image Credit: Apify
Apify, a leading web data extraction platform headquartered in Prague, has announced securing €2.8 million in funding to drive its expansion and innovation efforts. The investment round was led by venture capital fund J&T Ventures, with participation from existing investor Reflex Capital.
Apify’s web scraping platform empowers companies to extract data from websites for various applications, including AI integration. With the capability to automate web-based workflows at scale in the cloud, Apify offers a suite of over 1,500 Actors through an open marketplace. Its clientele boasts industry giants such as Siemens, Intercom, Microsoft, T-Mobile, and Accenture.
Founded in 2015 by Jan Čurn and Jakub Balada, Apify has experienced remarkable growth, achieving a revenue of €6.7 million and nearly €1 million in profit in 2023. The company witnessed an impressive 80% growth in revenue during the final quarter of 2023 compared to the previous year.
Jan Čurn, CEO of Apify, commented on the investment, stating, “Our last investment was secured in 2019, and Apify has been growing solely from its own profits in recent years. However, we now see an opportunity in the market to accelerate growth, which is why we have decided to seek further investment.”
He continued, “Given our size, we opted for a relatively modest amount, as we didn’t want to disrupt the company with a massive influx of capital. This allows us to maintain our financial efficiency and unique company culture while keeping our options open for future investments or exits. Our current goal is to demonstrate our ability to convert capital into economically efficient growth, attract new customers, and scale our business. Once we achieve this, it may make sense for us to seek a significant investment from global VC funds and attempt to become the next Czech unicorn.”
Expressing their confidence in Apify’s potential, Martin Kešner from J&T Ventures stated, “We have been following the journey of Apify with enthusiasm since 2016 when we first met Honza and Jakub. In that time, they have built cutting-edge technology, a strong brand, and an international network of customers. As a result, they are now in a great position to take advantage of the huge opportunities that are opening up. We believe we can help them grow into a global leader.”
The newly secured funds will primarily be allocated to marketing initiatives, product development, and nurturing the developer community. Additionally, as part of the investment round, Apify has increased the ESOP pool for employee incentives to a share of about 15%.
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