Most people working in media jobs in mobile advertising agencies would agree that, in the age of multiple media sources, advertisers need to know which networks they’re getting the best results from. And since its launch in 2011, New York mobile app measurement, attribution and analytics SaaS startup AppsFlyer has been helping them find out.
AppsFlyer lets mobile advertising agencies, app developers and brands measure mobile user attribution across social, organic, paid and viral media sources. Now a Facebook Mobile Measurement Partner, the startup’s platform is integrated with no fewer than 300 media sources and ad networks, and it’s currently monitoring mobile advertising campaigns at annual run rates of $500 million in ad spend and one billion mobile app installs (its mobile traffic grew 80-fold in 2013).
To cap it all, the company recently announced that it’s now profitable too. Its success reflects its capacity to enhance mobile marketing transparency by helping mobile advertising agencies and advertisers pinpoint profitable campaigns based on lifetime value and ROI. And it’s certainly impressed investors: at the beginning of March, AppsFlyer raised $1.7 in a Series A round led by Pitango Venture capital and existing investor Magma Venture Partners.
Pitango General Partner Eitan Bek will now join the AppsFlyer board and is confident that, with its strong team and technology, the startup is poised to “transform the mobile advertising market.”
According to its CEO and co-founder Oren Kaniel, AppsFlyer’s NativeTrack™ technology is fast becoming “the industry standard for mobile attribution.” And he’s clearly proud of its independence. He said, “AppsFlyer is an unbiased, independent measurement platform, and we’re thrilled to have Pitango join us, given their strong portfolio of mobile, social and advertising technology companies.”
Magma Partner Modi Rosen said that the industry needed an effective mobile ad tracking platform capable of delivering real results to help advertisers optimize their marketing budgets.
Commenting on the recent funding round, he said, “Back in 2012, we invested in AppsFlyer’s vision of becoming the mobile advertiser’s toolbox. After AppsFlyer significantly exceeded all expectations in 2013 and into 2014, we’re excited to join this round of funding.”
The new funding will partly be used to open two new offices in New York and San Francisco but much will go into product R&D, customer support and business development.