AppsFlyer has raised $7.1 million in a round of funding from Pitango Venture Captial and current investor Magma Venture Partners.
The Israel-based AppsFlyer focuses on mobile app tracking and campaign analytics, offering a platform that helps developers get the most out of their user acquisition campaigns. The company already boasts a number of big brands among its clientele including Sega, Baidu and Foursquare.
According to AppsFlyer, this latest round of funding will be used to expand R&D, product offering and business development, as well as boost its international growth plans.
AppsFlyer’s CEO Oren Kaniel said:
“AppsFlyer’s NativeTrack technology is rapidly becoming the industry standard for mobile attribution, and the additional funding will help us scale globally,” said AppsFlyer CEO & co-founder Oren Kaniel (pictured). “AppsFlyer is an unbiased, independent measurement platform, and we’re thrilled to have Pitango join us, given their strong portfolio of mobile, social and advertising technology companies.”
Magma’s Modi Rosen added:
“The industry is in need of a reliable mobile ad tracking platform that will allow advertisers to optimize their marketing budgets based on real results. Back in 2012, we invested in AppsFlyer’s vision of becoming the mobile advertiser’s toolbox. After AppsFlyer significantly exceeded all expectations in 2013 and into 2014, we’re excited to join this round of funding.”
The app tracking space certainly appears to be gaining steam, with AppsFlyer going head-to-head with a number of similar platforms from the likes of Hasoffers’ Mobile App Tracking, Kontagent, Kochava and Adx.
Although HasOffers and Kontagent suffered a set-back a few weeks ago, when Facebook stopped handing over user data, the appetite for app analytics is only going to grow, as user acquisition campaigns shift toward more value-driven objectives (rather than volume-driven). Platforms like AppsFlyer will therefore be increasingly relied upon to assess which traffic sources are actually having an impact on developers’ bottom lines.