Mobile measurement and marketing company AppsFlyer announced that it raised funding from Salesforce Ventures at a valuation of $2 billion.
The company didn’t disclose the exact amount, but it follows an investment round in January 2019 when the company raised $210 million at a $1.6 billion valuation.
The company provides tools and services that enable mobile marketers to accurately measure their mobile ad spend.
It’s a hot topic at the moment, given Apple’s decision to retire the Identifier for Advertisers (IDFA) to promote user privacy. Many mobile advertisers and experts fear that this will have a significant effect on mobile ad spend because targeted ads will be much harder to track.
Yet, AppsFlyer said that many of its clients are shifting to privacy-based measurement solutions in light of the iOS14 changes.
Apple won’t be the last technology company to roll out such features. It’s likely that Android will follow suit.
This means that there’s a real hunger and market gap for solutions that measure ad effectiveness in spite of these additions to user privacy. The investment is a vote of confidence in mobile measurement companies.
“Salesforce Ventures has the confidence in us and our platform, which provides mission-critical measurement and attribution solutions that are increasingly being adopted in mobile marketing tech stacks,” president of AppsFlyer Brian Quinn told VentureBeat.
“With the pandemic and the economic uncertainty, there has certainly been a lot of acceleration in digital transformation amongst enterprises. And that’s typically where we see Salesforce in their marketing cloud.”
Founded in 2011, the company has been expanding steadily to provide new measurement solutions. It wants to use the new funding to extend its headcount in 2021 and invest more heavily into deep linking.