Mobile marketer and analytics company, AppsFlyer, just raised $56 million in a Series C funding round, bringing the total to $84m. It comes on the back of revenues growing 500% over the last two years. In addition, the company increased its staff from just 40 to 240 people across 12 offices worldwide.
The round was led by investors Qumra Capital, Goldman Sachs Private Capital Investing, Deutsche Telekom Capital Partner and Pitango Growth. In addition, Qumra Capital partner Boaz Dinte joined the AppsFlyer board of directors, with Goldman Sachs PCI joining as observers.
The company plans to use the new cash injection to improve its products, particularly its marketing measurement tools to increase audience engagement. In addition, it aims to invest in new and innovative products which can be measured such as mobile, web, TV and offline activities.
AppsFlyer will also extend existing partnerships and operations in Asia to help its clients penetrate the local market. Finally, it aims to explore new mergers and acquisitions that could enhance its capabilities and open the door to new possibilities within the mobile advertising economy.
Boaz Dinte, Managing Partner at Qumra Capital, explains:
“AppsFlyer has proven its ability to provide mission critical tools and data-driven innovations for measurement that marketers and developers need for success. 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.”
Appsflyer is now processing $6bn in mobile marketing spend a year and in excess of 300bn mobile events each month. The company has 2,000 partners and supports more than 10,000 marketing clients. Among its top ranking partnerships are Facebook, Google and Twitter, alongside measurement partners Pinterest, Tencent, Adobe, Yahoo! and IBM.
Oren Kaniel, CEO and Co-founder of AppsFlyer, adds that staying competitive is a core focus for the company right now.
“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.”