AppsFlyer raises $20 million to invest in R&D, global expansion

Mobile advertising solutions firm AppsFlyer today said it has raised $20 million (over Rs 120 crore) from a group of investors led by Fidelity Growth Partners Europe (FGPE).

AppsFlyer is a mobile advertising measurement platform with clients like Facebook, Google, Twitter, Airtel and Reliance.

With this funding, the company has raised $28 million to date. AppsFlyer's existing investors, Magma Venture Partners and Pitango Venture Capital also participated in the funding round.

"AppsFlyer will invest the funds in R&D to accelerate development of its product offerings, including new tools to help marketers measure the impact of their advertising, marketing and re-targeting campaigns," it said in a statement.

The firm will also expand its international growth by opening new offices throughout the world to complement existing offices in San Francisco, Tel Aviv and Beijing, it added.

Additionally, AppsFlyer will invest in its knowledge centre to provide key insights and education that help the industry understand the rapidly evolving mobile advertising landscape.

According to market research firm eMarketer, the global mobile ad spend is expected to hit $64 billion this year and reach $158 billion by 2018.