[Funding alert] Marketing analytics firm AppsFlyer raises $210M in Series D round led by General Atlantic

San Francisco-based SaaS brand in martech (marketing technology) space, AppsFlyer, which has offices in Israel, Europe, and Asia, announced it has raised $210 million in Series D funding round led by General Atlantic, a global growth equity firm based in New York. 

Existing investors Qumra Capital, Goldman Sachs Growth, DTCP (Deutsche Telekom Capital Partners), Pitango Venture Capital, and Magma Venture Partners also participated in the round. 

Oren Kaniel, AppsFlyer’s CEO and Co-founder, said, 

“This new round will enable 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,” he added.

As part of the deal, Alex Crisses, Managing Director at General Atlantic, and Anton Levy, Co-president and Global Head of Technology, have joined AppsFlyer’s Board of Directors. 

The investment comes three years after AppsFlyer’s Series C funding round, bringing the company’s total funding to $294 million. Since the previous round, AppsFlyer has grown its team 4X to 850 employees across 18 global offices. This year, it opened its seventh Asia-Pacific office in Jakarta, Indonesia. 

AppsFlyer, the global attribution leader which empowers marketers to grow their business, has seen 5X growth in Annual Recurring Revenue (ARR), exceeding $150 million in 2019. This follows a five-year growth in ARR from $1 million to $100 million. 

Alex Crisses, Managing Director, General Atlantic, said,

“Attribution is becoming the core of the marketing tech stack, and AppsFlyer has established itself as a leader in this fast-growing category.” 

From Indonesia’s Ruangguru to India’s Rubicon Research, General Atlantic has been expanding its Asia portfolio in recent years. 

“AppsFlyer’s scale enables it to provide accurate attribution data and ad-fraud protection, saving millions for advertisers. At the same time, the company has the end-user in mind every step of the way,” said Anton Levy.

AppsFlyer works with more than 12,000 customers, including leading brands such as Grab, Agoda, Tokopedia, SEA Group (Shopee & Garena), HBO, Tencent, and Nike, and is connected to an ecosystem of over 5,000 partners, including Facebook, Google, Apple Search Ads, Twitter, Salesforce, Adobe, and Oracle. 

Ronen Mense, AppsFlyer’s APAC President and Managing Director, added,

“This funding will go into strengthening our open platform for partners and third-party developers, allowing them the flexibility to add their custom solutions on top of ours, so they can more confidently grow and protect their businesses in a highly competitive marketplace like APAC.”

(Edited by Megha Reddy)