MOBILE attribution and marketing data analytics company AppsFlyer raised US$56 million in a Series C funding round, amounting to US$84 million of total funding. The round was led by new investors Qumra Capital, along with Goldman Sachs Private Capital Investing (PCI), Deutsche Telekom Capital Partners (DTCP), and Qumra Capital.
The Israel-based organization plans to use the funding to strengthen its already-existing partnerships and operations in China, where it develops advertising technology for Internet giants like Tencent and Baidu.
AppsFlyer also has measurement partnerships with big social media players such as Facebook, Twitter, and Pinterest, as well as with web mammoths Google and Yahoo!.
Advertising and marketing technology is a valuable commodity in the digital age. According to a Digital Marketing Budgets report by WebStrategies, the average firm was expected to allocate 30 percent of their marketing budgets to digital and online advertising in 2016, a rate that is expected to increase to 35 percent by 2019.
Of that digital budget, mobile advertising took up about 10 percent. AppsFlyer has seen immense growth thanks to this boom in digital marketing, measuring US$6 billion in mobile marketing spend annually and processing over 300 billion mobile events every month.
Oren Kaniel, CEO and co-founder of AppsFlyer, said: “Our mission is to focus on our clients and provide the marketing measurement platform they need to become successful in a hyper-competitive space.
“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.”