- Series B funding led by Fidelity Growth Partners Europe, with participation from existing investors Magma Venture Partners and Pitango Venture Capital
SAN FRANCISCO, Jan. 20, 2015 /PRNewswire/ -- AppsFlyer, a leading mobile advertising measurement platform, announced today it has raised $20 million in Series B funding. The round was led by Fidelity Growth Partners Europe (FGPE), the venture and growth capital arm of Fidelity Worldwide Investment, focusing on high growth businesses, with participation from AppsFlyer's existing investors, Magma Venture Partners and Pitango Venture Capital. With this funding, the company has raised $28 million to date.
AppsFlyer's NativeTrack™ technology provides app marketers, brands and agencies with unbiased, independent measurement of campaigns across more than 800 mobile ad networks and media sources. The company's universal software development kit (SDK) has been installed over 4 billion times and can be found in 9 out of every 10 smartphone devices. More than 4,000 advertisers currently use AppsFlyer software to measure and analyze over $1 billion in annual mobile ad spend. The company tracked more than 2 billion app installations in 2014.
Market research firm eMarketer predicts that global mobile ad spend will hit $64 billion this year and reach $158 billion by 2018. Yet many advertisers remain cautious with the medium, largely due to an inability to measure the outcome of campaigns. AppsFlyer alleviates this problem by providing a complete suite of software tools enabling advertisers to measure, analyze and optimize mobile advertising across all media sources, including paid, organic, viral and social.
"Our mission is to empower advertisers with unbiased information and to give them the marketing toolbox they need to conduct smarter, more effective mobile marketing," said Oren Kaniel, AppsFlyer CEO and co-founder. "We have experienced tremendous growth since our launch in 2011, and we are thrilled with this investment from Fidelity because it will allow us to maintain our platform neutrality and to further develop the mobile advertising SaaS platform the industry is waiting for."
An official Mobile Measurement Partner of Facebook, Twitter and Google, AppsFlyer also provides direct integration to many of the leading third-party analytics, automation and delivery providers, including Mixpanel, Swrve, Game Analytics, deltaDNA and many others. The company works with dozens of leading ad agencies including Starcom Mediavest, OMD, Dentsu Aegis, Fetch, M&C Saatchi and others that trust its "AppsFlyer for Agencies" solution, released last summer, to optimize the ROI and other KPIs of their clients' ad campaigns. In December, AppsFlyer launched OneLink, a unique, all-in-one smart deeplinking solution to help marketers simplify app marketing across all platforms and mediums, including email, web, search, mobile and all other paid media sources.
As part of the financing round, FGPE's Gaurav Tuli will join AppsFlyer's board of directors. "AppsFlyer is uniquely positioned to provide the mobile industry with a platform that empowers mobile marketers to succeed in the competitive app economy," said Gaurav Tuli. "We are very impressed with AppsFlyer's management team, technology base and the traction it has gained to date, and we are proud to make a significant investment that will ensure they remain the market trailblazer for years to come."
AppsFlyer will invest the funds in R&D to accelerate development of its product offerings, including new tools to help marketers measure the impact of their advertising, marketing and retargeting campaigns. The company will also expand its international growth by opening new offices throughout the world to complement existing offices in San Francisco, Tel Aviv and Beijing. Additionally, the company will invest in its knowledge center to provide key insights and education that help the industry understand the rapidly evolving mobile advertising landscape.
AppsFlyer is a leading mobile advertising measurement platform that enables app marketers, brands and ad agencies to optimize their marketing spend by measuring their campaigns across more than 800 integrated mobile ad networks, including on Facebook, Google and Twitter. A single real-time dashboard gives users all the tools they need to achieve the biggest return on their marketing dollars, including campaign ROI, lifetime value, retention reports, attribution analytics, cohort analysis, retargeting, smart deeplinking and more. The platform currently measures more than $1 billion in annual mobile ad spend and more than 250 million mobile app installs every month. Clients include Baidu, Foursquare, Hipmunk, Mail.Ru and YPlan. For more information, visit www.appsflyer.com.
About Fidelity Growth Partners Europe
Fidelity Growth Partners Europe (FGPE) is a venture and growth capital firm that invests in bold technology entrepreneurs with aspirations to build great businesses. FGPE is part of a global network of funds backed by Fidelity's proprietary, long-term capital with a 40-year heritage of venture investing. Combining a collaborative approach with a deep global network, Fidelity has backed global winners from Atari and Nuance in the US to Alibaba and Wuxi Pharma Tech in Asia. FGPE's track record in Europe includes investments in market leaders such as Curam (IBM), Newbay (RIM), GoodData, InnoGames, Wahanda and Notonthehighstreet. FGPE is currently investing a £100 million fund dedicated to backing fast-growing European technology companies. For more information visit www.fgpe.com.
About Magma Ventures Partners
Magma Venture Partners is a leading early stage Venture Capital investor in the information and communication technology space. Magma is primarily focused on SaaS and New Media investments in Mobile, Cybersecurity, Cloud, Big Data, and Ad Tech. In recent years, Magma sold DesignArt Networks (acquired 2012 by Qualcomm), Waze (acquired 2013 by Google), Onavo (acquired 2013 by Facebook), Provigent (acquired 2011 by Broadcom), and Wintegra (acquired 2010 by PMC Sierra). For more details visit www.magmavc.com.
About Pitango Venture Capital
Pitango Venture Capital has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, Pitango is a cross-stage fund, investing in IT, Life Sciences and Cleantech, and currently managing over $1.6 billion in committed capital. It has invested in more than 180 companies; among them are companies that have gone public, such as RADWARE, Retalix, CardGuard and others as well as companies that were acquired, such as dbMotion (acquired by AllScripts), superDimension (acquired by Covidien), Anobit (acquired by Apple), VideoSurf (acquired by MSFT), Provigent and Dune Networks (both acquired by Broadcom), Convergin (acquired by Oracle) and Optonol (acquired by Alcon) among others. For more details visit www.pitango.com.
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