AppsFlyer has raised an enormous Series D of $210 million, led by General Atlantic.
Founded in 2011, the company is best known for mobile ad attribution– allowing advertisers to see which projects are driving outcomes. At the same time, AppsFlyer has broadened into other locations, like scams prevention.
And in the financing announcement, General Atlantic Manager Director Alex Crisses recommended that there’s a more comprehensive chance here.
” Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category,” Crisses said. “AppsFlyer’s commitment to being independent, impartial, and representing the online marketer’s interests has actually garnered the trust of much of the world’s leading brand names, and we see significant potential to record extra opportunity in the market.”
Crisses and General Atlantic’s co-president and global head of technology, Anton Levy, are both joining AppsFlyer’s board of directors. Previous investors Qumra Capital, Goldman Sachs Development, DTCP (Deutsche Telekom Capital Partners), Pitango Venture Capital and Lava Venture Partners likewise participated in the round, which brings the business’s overall funding to $294 million.
AppsFlyer stated it deals with more than 12,000 clients, consisting of eBay, HBO, Tencent, NBC Universal, Minecraft, United States Bank, Macy’s and Nike. It also states it saw more than $150 million in yearly repeating earnings in 2019, up 5x from its Series C in 2017.
Co-founder and CEO Oren Kaniel said that as attribution ends up being more vital, online marketers require a partner they can rely on. And with AppsFlyer driving $28 billion in advertisement spend last year, he argued, “There’s a lot of trust there.”
Kaniel added, “It doesn’t really matter how advanced your marketing stack is, or whether you have AI or artificial intelligence– if the data feed is wrong … everything else will be wrong. I believe business realize how delicate and important this data platform is for them. I think that in the past couple of years, they’re investing more in selecting the best platform.”
In order to ensure that trust, he stated that AppsFlyer has prevented any conflicts of interest in its service design– a position that extends to fundraising, where Kaniel made certain not to raise cash from any of the big gamers in digital marketing.
And progressing, he said, “We will never enter into media service, never enter into media services. We want to keep our independence, we wish to preserve our previous objective positions.”
Kaniel likewise argued that while he does not see guidelines like Europe GDPR and California’s CCPA hindering ad attribution straight, the regulative environment has validated AppsFlyer’s financial investment in personal privacy and security.
” Even more than just being in compliance, [with AppsFlyer], marketers all of a sudden have complete control of their data,” he stated.