Israeli mobile marketing analytics startup AppsFlyer said it raised $56 million in Series C financing, bringing its total funding to $84 million. The round was led by new investors Qumra Capital, Goldman Sachs Private Capital Investing (PCI), Deutsche Telekom Capital Partners (DTCP) and Pitango Growth. Existing investors Magma Venture Partners, Pitango Venture Capital and Eight Roads Ventures also participated in the round.
Herzliya, Israel-based AppsFlyer was co-founded in 2011 by its current CEO Oren Kaniel, and CTO Reshef Mann. The startup received its seed funding from the Microsoft Ventures Accelerator program. It raised $7 million in Series A funding from Pitango and Magma in 2014, and $20 million in Series B funding led by Eight Roads Ventures in 2015, which allowed it to open offices in New York, San Francisco, Bangkok, Beijing, Berlin, London, Tokyo, Bangalore, Seoul and Buenos Aires.
“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 Kaniel. “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.”
Having grown revenues by 500% and staff from 40 to 240 people across 12 global offices in two years, the company said it will invest in the enhancement of its products to help more marketers measure every engagement with their target audiences.
The company plans to continue expanding its existing partnerships and operations in Asia, and also plans to explore merger and acquisition opportunities.
“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 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.”
Qumra Capital partner Boaz Dinte has joined AppsFlyer’s board of directors, with Goldman Sachs PCI joining as observers.
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 its 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.