AppsFlyer enters unicorn club with $210m. funding round

Founded in 2011 by current CEO Oren Kaniel and CTO Reshef Mann, AppsFlyer offers a range of measurement and analytics software solutions to marketers, serving brands like eBay, Nike and HBO.

JANUARY 21, 2020 15:05

AppsFlyer co-founders CTO Reshef Mann (L) and CEO Oren Kaniel. (photo credit: APPSFLYER) — AppsFlyer co-founders CTO Reshef Mann (L) and CEO Oren Kaniel.

(photo credit: APPSFLYER)

Israeli marketing analytics start-up AppsFlyer has secured $210 million in funding, the company announced on Tuesday, in a Series D round led by New York-based private equity firm General Atlantic.

Founded in 2011 by current CEO Oren Kaniel and CTO Reshef Mann, AppsFlyer offers a range of measurement and analytics software solutions to marketers, naming brands like eBay, Nike and HBO among over 12,000 customers.

The latest investment brings AppFlyer's total funding to $294m. to date, and adds the start-up to Israel's growing list of "unicorns" – privately-owned start-ups reaching or exceeding a $1b. market valuation.

AppsFlyer's platform is known as a leader in the field of mobile attribution, enabling brands to attribute app installations and engagement to specific marketing campaigns. The Herzliya-headquartered company enables marketers to track user journeys along over 5,000 technology partners, including Facebook, Google, Apple Search Ads and Twitter.

"This new round enables us to double down on our mission to empower marketers with the tools needed to catapult their success and make accurate, better-informed, strategic decisions, as well as help drive innovation and transparency across our industry," said Kaniel.

Existing investors also participated in the round, including Qumra capital, Goldman Sachs Growth, Deutsche Telekom Capital Partners, Pitango Venture Capital and Magma Venture Partners. Since AppsFlyer closed its $56m. Series C round in January 2017, the company has expanded fourfold to 850 employees in 18 offices worldwide, and concluded 2019 with over $150m. in revenue.

"Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category," said General Atlantic managing-director Alex Crisses, who will join AppsFlyer's board of directors together with General Atlantic co-president and global head of technology, Anton Levy.

"AppsFlyer’s commitment to being independent, unbiased, and representing the marketer’s interests has garnered the trust of many of the world’s leading brands, and we see significant potential to capture additional opportunity in the market."

Established in 1980, General Atlantic manages approximately $35b. in assets and employs more than 150 investment professionals worldwide. In November 2019, the firm led a $165m. Series E funding round in Tel Aviv-based fraud prevention start-up Riskified.