AppsFlyer raises $56 mln from Qumra Capital, 3 others

NEW DELHI: AppsFlyer, a marketing data analytics firm, has raised $56 million (about Rs 381 crore) in latest round of funding. This was led by new investors Qumra Capital, Goldman Sachs Private Capital Investing, Deutsche Telekom Capital Partners ( DTCP) and Pitango Growth.

The existing investors Magma Venture Partners, Pitango Venture Capital and Eight Roads Ventures also participated in the round. The series C financing brings the company's total funding to $84 million.

"Having grown revenues by 500 per cent and staff from 40 to 240 people across 12 global offices in two years, the company will invest in the enhancement of its products to help even more marketers measure every engagement with their target audiences," AppsFlyer said in a statement.

Qumra Capital partner Boaz Dinte has joined AppsFlyer's board of directors, with Goldman Sachs PCI joining as observers, it added.

AppsFlyer measures $6 billion in mobile marketing spend annually, processes over 300 billion mobile events every month, has more than 2,000 integrated partners and supports over 10,000 marketers as clients.

"In the past two years, we delivered some game-changing products that fundamentally make marketing more accessible, measurable and predictable. This funding round will continue to fuel our product development and advance our strategy to build the ultimate measurement platform for marketers," AppsFlyer CEO and co-founder Oren Kaniel said.

The fresh round of funding will allow AppsFlyer to continue investing in products and innovations. The company will also build upon existing partnerships and operations in Asia as well as explore merger and acquisition opportunities to augment current capabilities.