AppsFlyer raises US$210m in series D funding to strengthen open platform

, mobile attribution and marketing analytics platform, has raised about US$210 million for a Series D funding round led by General Atlantic, a leading global growth equity firm based in New York. With the new round of funding, the company will look to strengthen its open platform for partners and third-party developers, allowing "them the flexibility to add their custom solutions on top of AppsFlyer's, so they can more confidently grow and protect their businesses in a highly competitive marketplace like APAC,” explained AppsFlyer’s APAC president and managing director, Ronen Mense.

Mense added that the team predicts that APAC will hold the world’s largest quantity of app-install ad spend at USD 30 billion. “With massive volume and scale in this truly mobile-first region, marketers will be looking even harder into how they can better optimise their marketing budgets. There is also the imminent danger of fraud exposure for brands and users alike, where sadly, APAC leads in the world’s fastest fraud rate-growth at 60% higher than the global average,” he said.

This investment comes three years after AppsFlyer’s Series C funding round, bringing the company’s total funding to US$294 million. Since the previous round, AppsFlyer has grown its team four times to 850 employees throughout 18 global offices. This year it opened its seventh Asia Pacific office, in Jakarta, Indonesia. According to the company's press statement, in 2019 alone, AppsFlyer customers made US$28 billion worth of decisions using AppsFlyer.

“As a market leader, we are proud and humbled to know that AppsFlyer’s platform is used daily by many marketing teams around the world,” said Oren Kaniel, CEO and co-founder, AppsFlyer. “We take this responsibility very seriously. 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.”

Meanwhile, as part of the new round of funding, Alex Crisses, managing director at General Atlantic, and Anton Levy, co-president and global head of technology, have joined AppsFlyer’s board of directors. “We are excited to partner with a company that has an experienced team and a culture focused on the customer,” said Crisses. He added, attribution is becoming the core of the marketing tech stack, and "AppsFlyer has established itself as a leader in this fast-growing category".

Crisses also added that AppsFlyer’s commitment to being independent, unbiased, and representing the marketer’s interests has garnered the trust of many brands, and General Atlantic sees significant potential to capture additional opportunity in the market.

"At General Atlantic, we partner with transformative companies that drive success, innovation, and value, and we view AppsFlyer as a disruptor in its market,” said Levy. He added, AppsFlyer’s scale enables it to provide accurate attribution data and ad-fraud protection, saving millions for advertisers. and "at the same time, the company has the end-user in mind every step of the way". As data privacy becomes one of the primary concerns facing brands, we are energized to partner with a technology leader that has a mindset of privacy by design and security first.”