AppsFlyer, a San Francisco-headquartered attribution platform, has bagged USD 210 million in a Series D funding round led by General Atlantic. The partnership also sees General Atlantic managing director Alex Crisses, and co-president and global head of technology, Anton Levy, join AppsFlyer’s board of directors, according to a statement by the company.
This is the second “triple-digit” million-dollar investment from General Atlantic after it injected USD 150 million into Indonesian edutech startup Ruangguru in December 2019.
The fresh capital brings AppsFlyer’s total funding to USD 294 million. The company raised its Series C funding of USD 56 million from Qumra Capital in January 2017. Since the previous round, the company has grown its team four times to 850 employees throughout 18 global offices.
It predicts that the Asia Pacific region will hold the world’s largest quantity of app-installed ad spend at USD 30 billion in 2020. But this region also has the highest fraud rate growth. Therefore, AppsFlyer will utilize the fresh funding to enhance its open platform for partners and third-party developers, allowing them the flexibility to add their custom solutions on top of its own. This way, the partners can grow more confidently in the highly competitive Asia Pacific marketplace, said AppsFlyer’s APAC president and managing director, Ronen Mense, in a statement.
“Being a truly mobile-first, often mobile-only, market, APAC is at the forefront of the global tech ecosystem. While China and India have emerged as key players in this increasingly dynamic mobile landscape, fast-maturing mobile economies in Thailand, Malaysia, Vietnam, and Indonesia, also augment an already booming market opportunity,” Mense told KrASIA.
“What will differentiate the best from the rest is the intelligent use of high-quality data to make informed marketing decisions, and innovative approaches to measuring campaigns that attract and engage the valuable users,” he continued.
The company also recently opened an office in Jakarta, Indonesia, as it wants to strengthen its presence in Southeast Asia’s largest market.
AppsFlyer currently works with more than 12,000 customers, including big names such as Gojek, Agoda, Tokopedia, SEA Group (Shopee & Garena), HBO, Tencent, and Nike. Moreover, the company is connected to an ecosystem of over 5,000 partners, including Facebook, Google, Apple Search Ads, Twitter, Salesforce, Adobe, and Oracle.