“Robust attribution has become critical to the ecosystem.”
Mobile application attribution and users analytics firm AppsFlyer has secured $210 million (£160) in its latest funding round, bringing the firm’s total valuation to a weighty $1.6 billion (£1.2).
AppsFlyer is a mobile advertising attribution and analytics platform, one of its core offerings is software that can be installed on mobile applications that allows advertisers to track user advert engagement, monitor user acquisition and retention campaigns.
The company’s measurement and analytics tools are currently used by more than 12,000 customers who use the platform to monitor advert campaigns on mobiles, including brands such as eBay, HBO and Walmart. The service can be integrated into the analytical offerings from technology providers such as Google, Apple and Salesforce.
Alex Crisses, MD of equity frim General Atlantic commented in a release that: “Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category. AppsFlyer’s commitment to being independent, unbiased, and representing the marketer’s interests has garnered the trust of many of the world’s leading brands, and we see significant potential to capture additional opportunity in the market.”
The latest funding round was led by New York-based equity frim General Atlantic and follows a previous investment of $294 million three years ago in a round led by Qumra Capital and Goldman Sachs Private Capital Investing.
Since that investment the firm has grown its internal teams by 400 percent and now have a staff of 850 people spread across 18 global offices. Over the last five years the company has posted strong growth as its accounting rate of return (ARR) grew from $1 million to $100 million.
Oren Kaniel, CEO of AppsFlyer commented in an emailed statement that: “Robust attribution has become critical to the ecosystem. In 2019 alone, our customers made $28B worth of decisions using AppsFlyer. The natural progression for us is to maintain an open platform for partners and third-party developers, allowing them to add their own custom solutions on top of ours. This will enable brands to innovate in ways that are almost unimaginable today. We’re thrilled to have General Atlantic’s support on our journey towards democratizing marketing.”