As anyone with experience of media jobs in mobile advertising agencies can tell you, if a mobile analytics company can raise just south of $65 million by its eighth year of existence, it’s got a pretty hot product on offer. And having raised a further $12.5 million in December, mobile analytics startup Flurry has joined that select band, bringing its investment total to a princely $63.3 million.
From apps to analytics
With offices in New York, San Francisco, Chicago, London and Mumbai, and employing 150 people, Flurry began life in 2005 as a humble app developer. Creative geekiness can be a heady mix: the firm soon began shifting its focus to analytics for mobile advertising and it really hasn’t looked back since.
Flurry works like this: it sucks in data from over 1.2 billion tablets and smartphones every month, capturing in excess of 1.3 trillion in-app actions conducted by those device users during the month. As big data analytics go, this fete is little short of humongous. Today, over 400,000 apps rely on Flurry’s analytics (every month, 20,000 new ones sign up) and the firm works with 125,000 companies (chiefly game and app developers).
An ingenious marketplace
Earlier in 2013, it launched “Flurry Marketplace” on its mobile advertising platform, an automated, programmatic business matchmaking service which links advertisers with the most relevant content publishers. The marketplace essentially allows advertisers to offer ad-buying bids in real time, precisely targeting the audience they’re seeking to reach.
The marker research firm IDC had forecast that ad spending through real-time bidding (RTB) will tip over the $13 billion mark by 2016. Initiatives like Flurry Marketplace will undoubtedly be welcomed by advertisers who want to show their ads as effectively as possible to specific audiences (say, women aged 18–34 years) by setting bids on ad impressions or setting limits to the amount they’re willing to pay for targeting specific audiences. The dynamic technology figures out the optimal price for the transaction, maximizing ROIs for advertisers and investors alike, and it lets publishers set a floor price so that their inventory is protected against being dragged downwards into near-oblivion.
A year ago Flurry raised $25 million, at which point its CEO and President Simon Khalaf announced that it had already become cash-flow positive and hinted at a possible IPO.