Sensor Tower, the mobile App Store market intelligence platform, announced that it raised $45 million from Riverwood Capital.
The platform provides insights on mobile app trends and in-depth analysis on app downloads and usage.
The company last raised $1 million in seed funding back in 2013 and has been profitable since.
In a statement, Alex Malafeev, the co-founder and CEO of Sensor Tower, said:
“Coming from scrappy roots and minimal investment to be the company we are today, we’re excited to be partnering with Riverwood Capital. We believe this new chapter will allow us to accelerate our growth, innovate, and develop comprehensive solutions for an ever-changing mobile ecosystem.”
Sensor Tower has had a successful year with annual revenues jumping 65% in 2019 compared to 2018.
Meanwhile, the company’s employee headcount increased 50% across various international offices.
Sensor Tower plans to use the funding to grow its products and operational tools.