AppsFlyer Raises $210 Million to Become a Unicorn

As mobile ad spending reached $165 billion in 2019, as per Warc Data, mobile attribution company AppsFlyer gained importance since they figure out whether that spending was effective or not. AppsFlyer has raised $210 million in funding to accurately measure mobile ad spending and become a “democratiser” of mobile marketing. New York-based global growth equity firm General Atlantic led this fourth round of funding.

“We found a lot of opportunities in the market to take our technology platform and service that we are providing to the market to the next level,” said AppsFlyer CEO Oren Kaniel. “How customers and marketers are leveraging technology is at the centre of our market.” Alex Crisses, managing director at General Atlantic said in a statement that General Atlantic was excited to partner with an experienced team focused on the attribution business, which is the core of the marketing tech stack.

AppsFlyer launched its business in 2012 and this investment comes three years after AppsFlyer’s third round of funding (series C), bringing the company’s total funding to $294 million. Since the previous round, it has grown its team four times to 850 employees, distributed throughout 18 global offices.

One of the fastest-growing software-as-a-service businesses, AppsFlyer has seen fivefold growth in annual recurring revenue (ARR), exceeding $150 million in 2019. This follows five-year ARR growth from $1 million to $100 million. The company works with over 12,000 customers, including leading brands such as Walmart, eBay, HBO, Tencent, NBC Universal, and Nike. It is connected to an ecosystem of over 5,000 partners, including Facebook, Google, Apple Search Ads, Twitter, Salesforce, Adobe, and Oracle.