Manganum, a company that turns Google Chrome into a productivity workspace, raised a second round of investment from Mitgo, an international holding focused on delivering innovative MarTech solutions and promoting entrepreneurship with an office in Chicago.
“Manganum helps its users to navigate through a sea of apps, to-do lists and services. It can help a lot of people – myself included”, states Alexander Bachmann, Mitgo’s CEO. Mitgo is committed to allocate $100M into early stage tech companies by 2025.
Manganum estimates the potential audience of its product at 25M users worldwide, with an expected revenue of $120M annually.
“Our mission is to make desktop browsers more productive, turning them into organised and efficient workspaces with functionality beyond what was previously possible. We don’t ask users to change their browser – we just make their Chrome better.” – Uladzimir Yankovich, Founder of Manganum.
Currently, Manganum has over 100,000 installs and 20,000 daily active users. A large part of Mitgo’s investment is to be spent on testing new marketing channels for Manganum with the aim of growing the extension’s customer base from the current ~500 organic daily installations to the projected 2,500.
Raised funds will also be used for technical development. Later this year, Google is going to roll out a feature to allow third-party extensions access to Chrome’s own sidebar, which Manganum is going to utilize one of the first.