Mobile ad analytics company AppsFlyer has announced that it has raised an additional $56 million in Series C financing, bringing its total funding to $84 million.
Based in Herzliya, Israel, AppsFlyer’s technology is found on 98 percent of the world’s smartphones, making it the global leader in mobile attribution and marketing data analytics. Data-driven marketers rely on AppsFlyer for independent measurement solutions and innovative tools to grow their mobile business. AppsFlyer’s platform processes billions of mobile actions every day, empowering mobile marketers and developers to maximize the return on their marketing investments.
Having grown revenues by 500% and staff from 40 to 240 people across 12 global offices in two years, the company will invest in the enhancement of its products to help even more marketers measure every engagement with their target audiences.
The round was led by late stage Israel-based venture capital fund Qumra Capital, as well as the Goldman Sachs Private Capital Investing unit of Goldman Sachs Group Inc (NYSE:GS), Deutsche Telekom Capital Partners and Israeli VC Pitango Growth. Qumra Capital partner Boaz Dinte has joined AppsFlyer’s board of directors, with Goldman Sachs PCI joining as observers.
“AppsFlyer has proven its ability to provide mission critical tools and data-driven innovations for measurement that marketers and developers need for success,” said Boaz Dinte, managing partner at Qumra Capital. “As mobile and marketing converge, it’s clear that AppsFlyer is primed for further growth and we are thrilled to provide more resources for the company to expand its capabilities as a data powerhouse for marketers that’s in a league of its own.”
The round follows a period of remarkable growth for the company. AppsFlyer measures $6 billion in mobile marketing spend annually, processes over 300 billion mobile events every month, has more than 2,000 integrated partners and supports over ten thousand marketers as clients. In addition to their existing measurement partnerships with major industry players including Facebook, Google and Twitter, AppsFlyer was recently selected as a measurement partner by Pinterest, Tencent, Adobe, Yahoo! and IBM.
“Our mission is to focus on our clients and provide the marketing measurement platform they need to become successful in a hyper-competitive space,” said Oren Kaniel, CEO and co-founder of AppsFlyer. “In the past two years we delivered some game-changing products that fundamentally make marketing more accessible, measurable and predictable. This funding round will continue to fuel our product development and advance our strategy to build the ultimate measurement platform for marketers.”
Existing investors Magma Venture Partners, Pitango Venture Capital and Eight Roads Ventures also participated in the round. The fresh round of funding will allow AppsFlyer to continue investing in products and innovations that help marketers connect and measure everything that can be measured, including mobile, web, television and offline activities. The company will also build upon its existing partnerships and operations in Asia to help marketers penetrate markets throughout the region with AppsFlyer’s measurement tools and through its prominent local partners. Finally, the company will explore merger and acquisition opportunities to potentially augment AppsFlyer’s current capabilities.
“The marketing landscape is evolving and mobile advertising spend is rising while the industry is shifting towards ROI-based marketing,” said Christian Resch, vice president of Goldman Sachs PCI. “We are excited to take part in AppsFlyer’s journey to build a leading global marketing data analytics business.”