Prague-Based Apify Raises €2.8M for AI Data Mining Platform

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Apify, a leading web data extraction platform, has secured €2.8 million in funding to bolster its AI-driven data mining capabilities.

Apify’s platform enables businesses to extract valuable data from websites, facilitating data-driven decision-making and empowering AI applications. Additionally, it offers automation of web-based workflows, allowing tasks performed manually in web browsers to be executed at scale in the cloud.

A key offering from Apify is its open marketplace featuring “Actors” – cloud-based programs that can be readily deployed, shared, and customized. With over 1,500 Actors available, Apify caters to a diverse range of clients, including industry giants like Siemens, Intercom, Microsoft, T-Mobile, and Accenture.

Founded in 2015 through the Y Combinator Fellowship in Mountain View, California, Apify has exhibited remarkable growth, achieving a revenue of €6.7 million and a nearly €1 million profit in 2023. Notably, the company experienced an 80% revenue surge in the last quarter of 2023 compared to the previous year.

According to Jan Čurn, founder and CEO of Apify:

“Having grown solely from profits in recent years, we now perceive an opportunity to accelerate our growth trajectory. However, we aim to maintain our financial efficiency and distinctive company culture amidst expansion. As such, we pursued a modest funding round to fuel our growth initiatives while retaining flexibility for potential future investments or exits.”

The investment, led by venture capital fund J&T Ventures with participation from existing investor Reflex Capital, underscores the confidence in Apify’s trajectory and potential. Martin Kešner from J&T Ventures expressed optimism about Apify’s future prospects, citing its cutting-edge technology, strong brand, and global customer network.

The funding will primarily be allocated to marketing efforts, product development, and nurturing the developer community. Additionally, as part of the investment round, the startup has expanded its Employee Stock Ownership Plan (ESOP) to incentivize and reward employees, reflecting its commitment to fostering talent and driving innovation.

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