Everyone wants their own app, but it just feels so intimidating; you don’t know where to start. Whether it is for your big company, small company, or even just for fun, you can think of so many uses for your own personal app. At DWNLD they agree, and want building apps to be made simple and cheap. CEO Alexandra Keating takes us through her company’s recent funding and lets us in on her secrets of the app that helps you create apps.
Who were your investors and how much did you raise?
We’ve received a $12M Series A Investment from Greylock Partners.
Tell us about your product or service.
DWNLD is a mobile technology company and our App Maker product enables media companies, brands and influencers to easily and affordably create a beautiful, native mobile app.
What inspired you to start the company?
Fritz Lanman and I were equally passionate about improving the experience of consuming content and commerce on mobile. When we started the company there was a clear need for someone to create an easy to use app maker tool that was high quality both in terms of design and functionality so we started there.
How is it different?
Mobile development can be intimidating, slow and costly, especially for independent publishers. DWNLD takes the work out of publishers’ hands by creating fully functional, easy-to-manage apps at an affordable price.
What market you are targeting and how big is it?
As people consume content increasingly on mobile devices, we’re creating an environment where absolutely anyone can have an app. We recently launched a completely free subscription tier so there are no longer barriers of price, technical knowledge or difficulty,
What’s your business model?
Recently, we’ve launched a free subscription tier that allows anyone to create an app. We also offer premium tiers that provide an enhanced experience for publishers, allowing access to additional analytics and custom advertising opportunities.
What was the funding process like?
Much like dating really – not that I have time for that these days… You meet the most eligible candidates and eventually you fall for the right one. Luckily we did. John Lilly is the perfect partner for DWNLD.
What are the biggest challenges that you faced while raising capital?
It’s hard to steer the ship when you’re not on the boat. It was important to me that DWNLD was able to maintain speed as I was spending more time out of the office meeting investors.
What factors about your business led your investors to write the check?
We both believe in the vision, which is the most important thing. Many people see different opportunities with the DWNLD technology. John and I both see the product roadmap the same way.
What are the milestones you plan to achieve in the next six months?
Nothing that I’m willing to make public. We set very high goals for ourselves at DWNLD.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Know when to raise and only take what you need from the right people. It’s important to spend time with your potential new board member, spend as much time with them as you can. It’s a long, hard journey scaling a company like DWNLD and it was important for me to find the right board member to help us grow in the right way.
Where do you see the company going now over the near term?
Right now I’m focused on expanding the current app maker tool to multiple verticals and ensuring all DWNLD customers are getting value out of the platform.
Where is your favorite place to enjoy the summer weather in the area?