Sequoia Capital leads $15m Series C in App Annie
Sequoia Capital has led a $15 million investment in app analytics platform App Annie, with participation from existing investors IDG Capital Partners, Greycroft Partners, e.ventures and Infinity Venture Partners. Tim Lee, partner at Sequoia Capital and Alan Gould, CEO of uSamp will join the board of directors.
App Annie's platform, comprising of analytics, store statistics and intelligence, tracks performance across multiple app stores, including download and revenue estimates. The insights are used by app publishers and developers to make strategic decisions, from monitoring the competition to deciding on new markets to enter to creating key performance indicators for a product or company.
Over the past year, App Annie has doubled its user base and tripled monthly recurring revenues. According to the company, more than 90% of the Top 100 iOS app publishers by revenue rely on App Annie products, including the likes of Google, Microsoft and Tencent.
The funding will be used to expand the capabilities of the platform, grow sales and marketing teams in San Francisco, and expand all of the Asia offices as well as Europe.
App Annie has now raised a total of $22 million. The latest round follows up the series B round completed in August 2012 led by Greycroft Partners, which brought in around $6 million for the Hong Kong-based startup.
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