AppsFlyer, a mobile advertising measurement platform, announced today that it has raised US$20 million in a Series B funding.
The round was led by Fidelity Growth Partners Europe (FGPE), the venture and growth capital arm of Fidelity Worldwide Investment, with participation from AppsFlyer's existing investors, Magma Venture Partners and Pitango Venture Capital.
With this funding, the company said that it has raised US$28 million to date. It added that it will utilise the funds to invest 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 centre to provide key insights and education that help the industry understand the evolving mobile advertising landscape.
"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."
As part of the financing round, AppsFlyer said that FGPE's Gaurav Tuli will join its 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 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."
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