AppsFlyer, an Israel-based mobile advertising analytics measurement platform, announced that it has raised US$20 million in 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 latest development, the company has raised US$28 million to date, in a market that, according to an official company release, will hit US$64 billion this year and reach US$158 billion by 2018.
AppsFlyer will invest the funds 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 by opening new offices in other parts of the world to complement existing offices in San Francisco, Tel Aviv and Beijing. Additionally, It will invest in its knowledge centre to “provide key insights and education that help the industry understand the rapidly evolving mobile advertising landscape”.
The four-year-old company is known for its NativeTrack technology, which in conjunction with its other offerings, is used by upwards of 4,000 advertisers worldwide, further said the release.
“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, CEO and Co-founder, AppsFlyer.
AppsFlyer app integrates itself into 800 or so ad networks the company uses, and then tracks and studies the behaviour of people in the time after an ad is run. In the case of AppsFlyer, this number is 30 days.
As part of the financing round, FGPE’s Gaurav Tuli will join AppsFlyer’s 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.
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