Mitgo Invests $500,000 in Manganum to Enhance Productivity Extension and Expand Global Presence
- ByStartupStory | May 30, 2023
In a strategic move to bolster its global investment plan, Mitgo, a leading global IT/MarTech company, has announced a $500,000 investment in Manganum, an innovative productivity extension for Google Chrome. The capital infusion will enable Manganum to explore new marketing channels and user acquisition methods. This investment is part of Mitgo’s ambitious goal to invest $100 million by 2025 and expand its presence in India by supporting and acquiring promising projects.
Launched in 2022, Manganum revolutionizes Google Chrome by transforming it into a powerful productivity workspace. The extension enhances user organization, focus, and multitasking capabilities. With its convenient sidebar, Manganum offers seamless access to popular productivity apps such as ChatGPT, Google Calendar, Google Tasks, Google Keep, Google Translate, and Todoist, regardless of the website being browsed.
“Our mission is to make desktop browsers more productive, turning them into organized and efficient workspaces with functionality beyond what was previously possible. And, being an extension, we don’t ask users to change their browser – we just make their Chrome better,” said Uladzimir Yankovich, Founder of Manganum.
Manganum has already gained significant traction, with over 100,000 installs and 20,000 daily active users. A substantial portion of Mitgo’s investment will be allocated to testing new marketing channels to accelerate the extension’s growth. The goal is to expand the customer base from the current ~500 organic daily installations to a projected 2,500.
Furthermore, funds will be directed towards technical development as Manganum prepares to leverage a forthcoming feature from Google. Later this year, Google will enable third-party extensions access to Chrome’s own sidebar. Manganum aims to be at the forefront of this opportunity, and with Mitgo’s investment, the team can expedite their preparations.
In addition to the financial investment, Mitgo is extending its support to Manganum by offering HR services to attract top talent for the project. Alexander Bachmann, Mitgo Founder and CEO, has taken on the role of project mentor, leveraging his extensive experience in developing, launching, and monetizing businesses.
“Manganum helps its users navigate through a sea of apps, to-do lists, and services. It can help a lot of people – myself included,” stated Alexander Bachmann. He further commended Uladzimir’s visionary approach, noting, “While browser changes traditionally come slowly, Uladzimir is a strong founder who sees new opportunities and takes advantage of them, constantly improving the product to better cater to the needs of its growing audience.”
Manganum estimates a potential audience of 25 million users worldwide, with an expected annual revenue of $120 million. For Mitgo, this investment presents an opportunity to assist Manganum in reaching its goals and diversifying further into the B2C sector. It aligns with Mitgo’s broader global investment plan, which includes recent investments in mobile meditation app, Practico.
Follow Startup Story
Related Posts
