Mobile app analytics firm App Annie raises $55m from VCs
App Annie, a mobile app analytics platform that was set up in Beijing but has since expanded globally, has raised a Series D round of funding worth $55 million, led by Institutional Venture Partners (IVP).
Existing investors Sequoia Capital, Greycroft Partners and IDG Capital Partners also participated. It takes the total funding raised by the company since inception to $94 million.
Founded in 2010, App Annie's flagship product is App Annie Intelligence, a platform that provides data analytics for downloads, revenues, in-app purchases, audience make-up and app usage. The service is based on the aggregation and analysis of app data footprints, which can ultimately be used to rank app performance across various categories, geographies and technology standards.
The company tripled revenues, more than doubled its team size to 300 employees and grew its user base 75% year-on-year to over 350,000 app operators, marketers and developers. App Annie has also launched Usage Intelligence, which adds analytics of app usage to the existing product offering.
The new funding will be put towards product development, international expansion and potential M&A activity. Last year App Annie acquired rival mobile analytics expert Distimo to establish a footprint in Europe. Part of the proceeds of the company's $17 million Series C, completed in May 2014 and led by IDG, Greycroft and Sequoia, financed this transaction.
"Mobile apps continue to proliferate and are transforming travel, transportation, health, gaming, entertainment, financial services and just about every industry you can think of, but before App Annie the app ecosystem was largely flying blind," said Eric Liaw, general partner at IVP, in a statement. "App Annie provides actionable insight into this explosive sector of technology and as a result, they are the ubiquitous standard for the app industry."
App Annie is used by more than 675,000 apps, including 90% of the top 100 app publishers globally. The customer roster features the likes of Electronic Arts, Google, LinkedIn, Microsoft, Samsung and Tencent Holdings. The company has tracked over 79 billion downloads and more than $24 billion in gross revenues to date.
It headquartered in San Francisco and has offices in Beijing, Hong Kong, Shanghai, Seoul, Tokyo, Amsterdam, London, Moscow and New York.
App Annie classifies the most recent funding as Series D, but the company has received four previous rounds. IDG put in an unspecified sum in seed funding in 2011 and then participated in a $6 million round in 2012, which was led by Greycroft and featured Infinity Venture Partners, e.ventures, and Kii Capital.
Sequoia led the next round, worth $15 million, in 2013, with the existing investors also participating, and this was followed by last year's $17 million investment.
IVP is a US-based later-stage venture capital and growth equity investor with $4 billion in committed capital.
More on Venture
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.