AppsFlyer raises $56 million to advance mobile marketing measurement
|Christian Hargrave in Marketing & Promotion Tuesday, January 17, 2017|
AppsFlyer has raised an additional $56 million in Series C financing, bringing its total funding to $84 million. 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 new investors Qumra Capital, as well as Goldman Sachs Private Capital Investing (PCI), Deutsche Telekom Capital Partners (DTCP) and Pitango Growth. Qumra Capital partner Boaz Dinte has joined AppsFlyer's board of directors, with Goldman Sachs PCI joining as observers.
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.
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."