AppsFlyer is “very close to breaking even,” according to its Chief Executive Oren Kaniel.
Photo: Yui Mok/Zuma Press
Salesforce Ventures, the investing arm of the marketing software tech giant Salesforce.com Inc., is putting money into AppsFlyer Ltd., an analytics firm that helps marketers, app developers and others evaluate the performance of their advertising campaigns.
The new investment is a late entry to the Series D funding that AppsFlyer announced in January, raising the size of the round to more than $225 million from $210 million, according to the company. The software firm is now valued at $2 billion, up from $1.6 billion in January, it said.
Founded in Israel, AppsFlyer is best known for its mobile analytics tools, which provide information on how different types of ad campaigns or bits of content drive behavior, such as visiting a website, installing an app or buying something.
The company said its tools evaluate $28 billion in ad spending a year. They also allow app developers to integrate ad and marketing technology from more than 8,000 other providers including Facebook Inc., Alphabet Inc.’s Google, Adobe Inc. and Salesforce.
AppsFlyer said its business has grown as marketers seek to understand how viewers go from seeing an ad to acting upon it—known as “attribution” in the industry. “Attribution is a must-have,” said Oren Kaniel, co-founder and chief executive of the company.
AppsFlyer has also developed tools for marketers to measure performance while navigating new privacy regulations and decisions by tech giants such as Apple Inc. to limit consumer tracking, he said.
“We have been looking at delivering software to allow for the kinds of insights that app developers and marketers can benefit from while protecting privacy for the end-user,” Mr. Kaniel said.
He added that the company is “very close to breaking even.”
AppsFlyer will use the latest funding in part to develop new products more quickly. It will also seek to increase its head count of 1,000 employees by around a third, Mr. Kaniel said.
AppsFlyer has raised more than $300 million since its founding in 2011 from investors including General Atlantic, Qumra Capital, Goldman Sachs Private Capital Investing, Deutsche Telekom Capital Partners and Magma Venture Partners.
Write to Sahil Patel at [email protected]
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