Fastlane.tools Founder Felix Krause launches ContextSDK to drive revenue growth of mobile apps - Backed by high-profile Angels
Vienna, Austria; OCT 24th 2023; Today, apps often have little logic when it comes to timing in-app communications or upsells. “Every day, billions of prompts and popups are shown at suboptimal times, resulting in annoyed users and increased churn.” said Felix Krause, co-founder of ContextSDK. “With today’s computing power, precise smartphone sensor data, combined with the latest machine learning algorithms, we can do much better than that.” Felix Krause, a leading voice in the startup ecosystem since his success with fastlane.tools, which is used by hundreds of thousands of mobile apps, is the mastermind behind ContextSDK and he aims to build the foundation for the next generation of mobile apps.
One recently onboarded customer, as a case study, showed 500 million upselling prompts, resulting in 24 million sales. With ContextSDK they experienced a remarkable +43% increase in conversion rates while reducing prompt intensity.
The mobile app industry is growing at an unprecedented rate. Apple recently published that its App Store ecosystem generated $1.1 trillion in developer billings and sales in 2022 alone. With over 1.8 million iOS apps, growing around 1,200 new apps per day, the market is expected to significantly grow over the next few years.
By leveraging on-device processing and the latest machine learning technology, ContextSDK has put itself into the pole position to be an essential part of the infrastructure and power the next generation of mobile applications. ContextSDK operates without any type of PII (Personal Identifiable Information), thanks to a completely new and unique mechanism built to fully protect the user’s privacy while also helping app developers achieve their business goals.
ContextSDK announces its first funding round, led by high profile Business Angels such as Peter Steinberger (founder of PSPDFKit), Johannes Moser (founder of Immerok), Michael Schuster (former Partner Speedinvest), Christopher Zemina (founder Friday Finance, GetPliant), Ionut Ciobotaru (former CEO Verve Group), Eric Seufert (Heracles Capital), Moataz Soliman (co-Founder Instabug) and others. It marks a significant milestone in the company's journey towards shaping the future of mobile app development and monetization. The raised funds will be used for the next hires in the company, supporting product and go to market.
With the new setup, backed by experienced investors and turning a proof of concept into a promising company, seasoned serial entrepreneur Dieter Rappold recently joined ContextSDK as co-founder and CEO. His responsibility is to build an effective organization around the product and engineering expertise of Felix Krause. With more than 20 years of experience in digital Marketing and Tech, Rappold is excited about the potential of ContextSDK: “We believe, that every single flow in any app can be improved by taking real-time user context into account - upselling prompts are only the first step of our larger vision”
ContextSDK is an extremely lightweight SDK for iOS apps, using only 0.2% of CPU, less than a MB of memory footprint, and less than a MB added to the app’s binary size. It is fully GDPR compliant, not collecting any PII at any point.
Currently the company is successfully onboarding customers with millions of daily active users to the iOS version of ContextSDK and plans to launch the Android version in Q1 2024.
ContextSDK is a pre-seed startup on a mission to revolutionize the mobile app industry. With a focus on real-time user context, ContextSDK empowers mobile apps to provide personalized and engaging experiences while enhancing app monetization. Founded by Felix Krause, former mastermind behind https://fastlane.tools/, and Dieter Rappold, the company is ready to make a substantial impact in the world of app development and user experience.
Further resources and Links
- About Felix Krause: https://krausefx.com/about
- LinkedIn Page: https://www.linkedin.com/company/contextsdk/
- X Account: https://twitter.com/context_sdk
- Landing Page for iOS Developers: https://contextsdk.com/developers
- Landing Page for Product Owners: https://contextsdk.com/head-of-product