Attribution firm AppsFlyer has completed a $210m (£161m) Series D funding round led by General Atlantic, a global growth equity firm based in New York. Existing investors Qumra Capital, Goldman Sachs Growth, Deutsche Telekom Capital Partners (DTCP), Pitango Venture Capital, and Magma Venture Partners also participated in the round. General Atlantic’s managing director, Alex Crisses, and co-President and global head of technology, Anton Levy, have joined AppsFlyer’s board of directors.
The investment comes three years after AppsFlyer’s Series C funding round, bringing the company’s total funding to $294 million. Since the previous round, AppsFlyer has grown its team four-fold to 850 employees working in 18 offices around the world. The company has seen 5X growth in Annual Recurring Revenue (ARR), exceeding $150m in 2019. This follows a five-year growth in ARR from $1 million to $100 million.
“We are excited to partner with a company that has an experienced team and a culture focused on the customer,” said Crisses. “Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category. AppsFlyer’s commitment to being independent, unbiased, and representing the marketer’s interests has garnered the trust of many of the world’s leading brands, and we see significant potential to capture additional opportunity in the market.”
AppsFlyer CEO and co-founder, Oren Kaniel, said: “As a market leader, we are proud and humbled to know that AppsFlyer’s platform is used daily by many marketing teams around the world. We take this responsibility very seriously. 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.
“Robust attribution has become critical to the ecosystem. In 2019 alone, our customers made $28bn worth of decisions using AppsFlyer. 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.”
AppsFlyer works with more than 12,000 customers, including brands such as Walmart, eBay, HBO, Tencent, NBC Universal, and Nike, and is connected to an ecosystem of over 5,000 partners, including Facebook, Google, Apple Search Ads, Twitter, Salesforce, Adobe, and Oracle.