San Francisco, CA (PRWEB) November 02, 2012
Flurry, a leading mobile app measurement and advertising platform, today announced that it has received $25 million in an oversubscribed Series D round of financing led by Crosslink Capital. The round of funding, which included full participation from existing investors Menlo Ventures, Draper Fisher Jurvetson, InterWest Partners, Union Square Ventures, First Round Capital and Draper Richards, brings the company’s total funding to $51.6 million. Nick Mignano, Partner at Crosslink Capital, will join Flurry’s board of directors.
Flurry will use the financing to accelerate the adoption of newly introduced platform products Flurry AppSpot, its supply-side platform, and Flurry Ad Analytics, its advertising effectiveness solution. Flurry will also use funds to grow its team and expand internationally.
“Flurry is powering a new wave of digital advertising with big data for the mobile app economy in an exciting way,” said Nick Mignano, partner of Crosslink Capital. “The scale at which the company is operating in terms of data volume, ad serving and revenue generation impressed our team. This enables one of the most innovative uses of data for business customers since our private investment in Omniture in 2006.”
Flurry has grown significantly over the past year, quadrupling the number of data points it measures, now over 32 billion per day. Each day, the company measures 1.9 billion application sessions across more than 250 million unique smartphone and tablet devices. Over the last year, Flurry has doubled the number of applications using its services from 120,000 to more than 250,000. In total, more than 80,000 companies now use Flurry services across iOS, Android, Windows Phone, BlackBerry, HTML5 and JavaME platforms.
Flurry AppCircle, the company’s data-driven ad network, has grown by more than 3 times in volume over the last year. AppCircle now delivers over 120 million completed monthly advertising conversions, including first-time app downloads, user app re-engagements and completed video views.
“Flurry is excited to welcome Crosslink to our board as we expand the reach and adoption of the Flurry platform,” said Simon Khalaf, Flurry president and chief executive officer. “Flurry is a unique, mobile-first company playing at the intersection of big data, mobile applications and digital advertising. We look forward to using this new round of funding to significantly accelerate our growth in one of the fastest growing technology markets in history.”
Flurry helps companies build, measure, advertise and monetize mobile applications in the new app economy. The company’s comprehensive measurement and advertising platform reaches over 700 million monthly unique smartphone and tablet devices across iOS, Android and other platforms. The company has main offices in San Francisco, New York and London.
Crosslink Capital is a leading stage-independent venture capital and growth equity firm with over $1.8 billion in assets. Crosslink, which traces its roots back to 1989, was among the first and largest investment firms in the U.S. to integrate public and private growth/technology investing in three families of funds: venture capital funds, long/short hedge funds, and a unique hybrid crossover fund. This strategy allows Crosslink to partner with its portfolio companies on a long-term basis. Crosslink Capital has invested in over 100 private equity portfolio companies, at the early, mid, and late stages including Pandora, Ancestry.com, Omniture Software (acquired by Adobe Systems), Equinix, Carbonite, SeaMicro (acquired by AMD), Bleacher Report (acquired by Turner Broadcasting), Datastax, Intematix, and Marin Software.