Martech Startup AppsFlyer Raises $210 Mn Series D To Scale Infrastructure

Martech platform AppsFlyer has raised $210 Mn Series D funding led by US-based growth equity firm General Atlantic. The round also saw participation from existing investors Qumra Capital, Goldman Sachs Growth, Deutsche Telekom Capital Partners, Pitango Venture Capital and Magma Venture Partners.

The funding comes three years after AppsFlyer’s Series C funding round, bringing the company’s total funding to $294 Mn. AppsFlyer has grown its team 4X to 850 employees throughout 18 global offices since the previous round.

The San Francisco-headquartered company has 12 Indian startups under its portfolio including Paytm, Hotstar, Swiggy, Airtel, Voot, ShareChat among others. This year the company opened its seventh Asia-Pacific office, in Jakarta, Indonesia.

“The new round enables us to double down on our mission to empower marketers with the tools to catapult their success and make accurate, better informed strategic decisions, as well as drive innovation and transparency across our industry. We are focused on the long-term and building incredibly robust and scalable infrastructure,” Ronen Mense, APAC president and managing director, AppsFlyer told Inc42.

The funding will go into strengthening the open platform for partners and third-party developers, allowing them the flexibility to add their custom solutions on top of AppsFlyer. “This will allow them to confidently grow and protect their businesses in a highly competitive marketplace like India,” he added. AppsFlyer, saw 5X growth in Annual Recurring Revenue (ARR), exceeding $150 Mn in 2019. This follows a five-year growth in ARR from $1 Mn to $100 Mn.

“Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category. 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,” said Alex Crisses, managing director, General Atlantic in a statement.

AppsFlyer helps marketers to grow their business and innovate with a suite of comprehensive measurement and analytics solutions. Built around privacy by design, AppsFlyer takes a customer-centric approach to help brands and technology partners make better business decisions every day. Globally, AppsFlyer works with Grab, Agoda, Tokopedia, SEA Group (Shopee & Garena), HBO, Tencent, and Nike.