Facebook Mobile Measurement Partner AppsFlyer announced the closing of a $ 7.1 million financing round from Pitango Venture Capital and current investor Magma Venture Partners.
AppsFlyer said the funds will go toward expanding research and development, product offerings, business development, and customer support, as well as toward new offices in New York and San Francisco.
The company added that it is currently monitoring mobile campaigns at an annual run rate of $ 500 million, and that its mobile traffic grew by 80 times in 2013.
Pitango General Partner Eitan Bek will join AppsFlyer’s board, and he said in a release announcing the financing:
AppsFlyer provides mobile marketing transparency by enabling advertisers and agencies to identify profitable mobile campaigns based on return on investment and lifetime value. With AppsFlyer’s technology and strong team, the company is well-positioned to transform the mobile advertising market.
AppsFlyer Co-Founder and CEO Oren Kaniel added:
AppsFlyer’s NativeTrack technology is rapidly becoming the industry standard for mobile attribution, and the additional funding will help us scale globally. AppsFlyer is an unbiased, independent measurement platform, and we’re thrilled to have Pitango join us, given its strong portfolio of mobile, social, and advertising technology companies.