Israeli marketing analytics company AppsFlyer today announced a $210 million Series D funding round led by General Atlantic. This is only the second Israeli startup after Riskifed, that General Atlantic, which also invested in Facebook and Airbnb, has invested in.
AppsFlyer said that the money was raised at a company valuation of $1.4 billion. Existing investors Qumra Capital, Goldman Sachs Growth, DTCP (Deutsche Telekom Capital Partners), Pitango Venture Capital, and Magma Venture Partners all participated in this latest round. The company has raised $294 million to date.
AppsFlyer was founded in 2011 by CEO Oren Kaniel and CTO Reshef Mann. The company has 850 employees and has quadrupled its workforce in the past three years. 300 of the employees work in product R&D. The company recently said that it has annual revenue (ARR) of $150 million. Headquartered in San Francisco and with development offices in Herzliya and Haifa, the company has developed a SaaS mobile marketing analytics and attribution platform,
Kaniel said, "We are publishing our ARR now because we want it to be clear to the market, potential customers, employees, and investors how significant our business is. An employee coming to us does not know how stable the company is." Regarding profitability Kaniel says that the company is "very much balancing its books."
Alex Crisses, Managing Director at General Atlantic, and Anton Levy, Co-President and Global Head of Technology, have joined AppsFlyer’s Board of Directors.
Kasniel added, "This new round enables us to double down on our mission to empower marketers with the tools needed to catapult their success and make accurate, better-informed, strategic decisions, as well as help drive innovation and transparency across our industry."
AppsFlyer works with more than 12,000 customers, including leading brands such as eBay, HBO, Tencent, NBC Universal, Minecraft, US Bank, Macy's, and Nike, and is connected to an ecosystem of over 5,000 partners, including Facebook, Google, Apple Search Ads, Twitter, Salesforce, Adobe, and Oracle. "Robust attribution has become critical to the ecosystem. In 2019 alone, our customers made $28B worth of decisions using AppsFlyer," continued Kaniel. "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."
Published by Globes, Israel business news - en.globes.co.il - on January 21, 2020
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