• 24 Aug 2015

    First UK-based Mobile App Market Coverage Benchmark Published by Perfecto Mobile

    The Mobile Test Coverage Index reveals variations between UK and other European testing strategies for mobile app quality

    London, UK. – 24th August 2015 - Perfecto Mobile, the world's leader in mobile app quality, has released unique research to help UK app developers, product managers, testers and marketers stay ahead of the ever-changing mobile market. As digital engagement continues to be the primary way brands reach customers, it's too risky to simply "assume" that apps and websites will work on the wide range of devices used by consumers. True app quality and business success require strategic planning and testing.

    The latest Mobile Test Coverage Index contains device coverage and usage data exclusively for Germany and the UK. It gives recommendations for testing apps on the correct mix of devices, operating systems, hardware and screen sizes to assure sufficient coverage in a fast-moving digital market where users freely express opinions via app store reviews and social media.

    The report answers the challenging question of which devices and operating systems need to be incorporated into testing strategies to meet and exceed market demands. It provides an index for reaching 30%, 50% and 80% test coverage in Germany and the UK, as well as the U.S., France, Italy, and Spain. The index is calculated from a wide range of public, private and proprietary data from Perfecto Mobile, including more than 4,000 device profiles and over 360,000 Perfecto Mobile user profiles.

    The index provides a benchmark to determine the appropriate level of mobile market coverage that organisations should target to support their digital engagement goals.

    • 30% of the market can be reached with 10-16 devices, based on the popular device models and OS versions as well as reference devices (e.g. Google Nexus series)
    • 50% market coverage can be reached with 17-25 devices. This level of test coverage requires more devices from major brands such as Samsung, Apple, Sony, Nokia and HTC
    • 80% market coverage can be achieved with a mix of 26-32 devices. This is the final group of devices to test on that will guarantee the recommended coverage level

      Because device and operating system adoption vary by geography, high-quality digital engagement requires testing based on regionalised data. By doing a detailed analysis of the UK market for the first time, the Mobile Test Index ensures testing and development strategies for unique local market dynamics; for example:
    • Apple holds similar market share in the UK as Samsung. However, Android accounts for 59% of the overall UK market. Yet even with that domination, Apple’s iPhone 6 and iPhone 5S are ranked first and second in the UK index
    • Windows Phone should be included in UK testing strategies due to its strong 13% market share in the region. This would be less advisable in the U.S., where the share is less than 3%
    • Android fragmentation requires that older models and operating systems need to be taken into account, with the 2012 Samsung Galaxy models still ranking in the top 16 devices in the UK index. While Android KitKat and Jelly Bean are widely adopted, the index recommends that the older Gingerbread OS be included in regression testing because it still has 10% share in Europe
    • Chinese device manufacturers OnePlus and Huawei are gaining market share in Europe, and with their compelling price points they're becoming a threat to Samsung and Apple

    "It is critical that chief digital officers and their teams align app testing and quality assurance strategies with real life customer experiences," said Roi Carmel, Senior Vice President of Products and Strategy, Perfecto Mobile. "Having industry benchmarks grounded in current data helps enterprises assure the quality of digital engagement. This absolutely depends on an app working flawlessly for users on the device, form factor and environment they use."

    He added: "While there's some consistency with the UK and U.S. markets, it's striking how the devices and operating systems to test on vary significantly between markets. The index helps mitigate the risks of developing apps and services for individual markets, and it will be interesting to see how these variations evolve with future releases of our report.

    About Perfecto Mobile
    Perfecto Mobile, the world’s leader in mobile app quality, provides a hybrid cloud-based Continuous Quality Lab that enables mobile app development and testing teams to deliver better apps faster. The Continuous Quality Lab supports testing processes earlier and more often in the development cycle, giving way to faster feedback and improved time to market. Users can access an exhaustive selection of real mobile devices, under real user conditions, connected to live networks around the world and leverage them for testing and monitoring throughout the mobile application development lifecycle – from development, functional and performance testing to monitoring and support.

  • 13 Aug 2015

    Online payments pioneer Payoneer raises $50 million from VCs

    “Payoneer continues to show tremendous momentum and revenue growth,” said Amir Goldman, Managing Director of Susquehanna Growth Equity and Payoneer board member.

    Payoneer Inc., a leading online payments company transforming the way businesses send and receive cross-border payments, is announcing that Wellington Management Company has led a $50 million investment in Payoneer. Susquehanna Growth Equity, LLC, an existing shareholder, invested as well. The shares were purchased from existing investors. All major shareholders in Payoneer retained the majority of their holdings.

    For a number of Forex brokers Payoneer has developed a branded prepaid debit card so that clients can have immediate access to their funds held with the broker. The cards can be used to shop and cash can be withdrawn at ATMs. Brokers which have launched branded debit cards accounts include FxPro, AvaTrade and EXNESS.

    “We have seen strong interest by many top-tier investors who believe in our vision to transform cross-border commerce by connecting businesses worldwide on an innovative financial platform,” said Scott Galit, CEO of Payoneer. “We are very pleased to add a high-quality institutional investor like Wellington Management Company to our shareholder base. Equally satisfying is that Susquehanna Growth Equity, which has been represented on our board for over a year, increased its holdings based on its conviction that Payoneer enables digital companies in many of today’s fastest-growing segments, including e-commerce and the sharing economy, to accelerate their global business expansion.”

    Susquehanna Growth Equity, LLC, which led Payoneer’s Series D financing round in 2014, focuses on making investments in high-potential technology businesses across a range of sectors, including financial services.

    Managing Director of Susquehanna Growth Equity and Payoneer board member went on to say: “Payoneer has established a unique global brand and is trusted by businesses worldwide that rely on Payoneer to send and receive billions of dollars across borders each year. We are excited to help Payoneer achieve its goal to reduce friction in cross-border trade by simplifying cross-border payments.”

    Payoneer is headquartered in New York with offices in Silicon Valley, Europe and Asia, and has a workforce of more than 500 employees globally. In addition to Susquehanna Growth Equity, Wellington Management Company joins existing Payoneer investors Carmel Ventures, Greylock Partners, Nyca Partners and Ping An Group.


  • 12 Aug 2015

    Lightricks Closes $10 Million Investment Round From Carmel Ventures To Continue Revolutionizing Image Processing on Mobile

    Developer of Premium Mobile Photography Apps, Enlight™ and Facetune™, To Use Funding To Accelerate Research and Development and Expand Product Pipeline

    (August 12, 2015, Jerusalem, Israel) – Lightricks, the leading developer of premium image processing software for mobile, announced today the closing of its first external financing, in the amount of $10 million led by Carmel Ventures, a leading Israeli venture capital firm. Lightricks is the developer of two leading image processing apps. Facetune™, a powerful portrait retouching app, was the #6 best-selling Paid iOS App of 2014, as well as featured as Best of 2013 & 2014 by Apple and Google respectively. Enlight™, a groundbreaking general photo editor, was featured globally as Apple’s Editors Choice, reaching the #1 rank in over 120 countries since debuting on the App Store in March this year, selling over 1 million copies since.

    In less than two and a half years since its founding, Lightricks has reached a $10 million yearly revenue run rate and scaled to 30 employees, with zero external funding to date. The company has also served as Facebook’s Case Study for mobile marketing. The new funding will be used to continue driving technological innovation in the field of mobile image processing.

    Lightricks was founded in 2013 by five entrepreneurs, four of whom hailed from a deep background in academia and industry research. They recognized a substantial gap between research grade image processing tech and the products offered to mobile users.

    “Lightricks was built on the premise that our mobile devices are about much more than passively viewing content, and that these devices offer a unique opportunity to foster and empower creativity. Our goal is to bring the most advanced technologies from computer vision, computer graphics and image processing and channel these innovations into products that enhance the experience of our users in ways that have never been seen before," said Dr. Zeev Farbman, CEO and Co-Founder of Lightricks. “Carmel presented us with a unique opportunity to partner with a firm that has a shared vision and a proven ability to help companies grow into global market leaders. This funding enables us to expand our operations and continue surpassing expectations of what can be achieved on mobile devices."

    Carmel Ventures, part of the Viola Group, is a leading Israeli Venture Capital firm that has invested in global technology powerhouses like Outbrain and IronSource.

    "What Lightricks has achieved to date is remarkable, and what struck us was the teams’ vision and will to build a world class company. Lightricks possesses a rare combination of proprietary core technology alongside a proven track record of creating products people want and are happy to pay for," said Daniel Cohen, General Partner at Carmel Ventures. "We are constantly looking to partner with companies that have the ability to truly revolutionize a given sector, and Lightricks has the potential to reimagine people’s creativity on mobile."


  • 26 Aug 2015

    NEW POST on http://t.co/oSoFp7kRVc by Carmel Ventures #CTO Ofer Brandes https://t.co/fOGsh7qBvw
  • 23 Aug 2015

    How #Israel came to be at the forefront of #FinTech Innovation http://t.co/89mz7MvBmT #startups via @viola_notes http://t.co/wDdDXWFJ9g
  • 22 Aug 2015

    RT @TheIsraelConf: Itai Tsiddon @LightTricks receives $10M in #funding by @carmelventures - Past Speaker at #TheIsraelConference 2014. http…

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Founded in 2000, Carmel Ventures is managing over $800M across four funds. As Israel’s top tier VC firm, we invest in Israeli or Israeli related early stage companies and build global category leaders. Carmel invests across a number of key market segments including: software, new enterprise infrastructure, big data, digital media, consumer applications and semiconductors.

Our team approaches the investment as a proactive, hands-on endeavor. Carmel Ventures typically leads or co-leads investments and take an active role on the Board of Directors while keeping a low ratio of companies per partner. With strong M&A and IPO experience, the Carmel team has backed a disproportional share of Israel’s category leaders that generate over $100M in annual revenues, including: Outbrain, ironSource, Payoneer, and more.

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