Localytics raises $16 million in Series C financing for mobile analytics platform
Mobile analytics and marketing company Localytics has announced it has raised $16 million in Series C financing, in a round led by new investor Foundation Capital. An existing investor, Polaris Partners, also participated. This brings the company’s total financing to $25 million, with Localytics planning to use the funding to accelerate its international expansion efforts, as well as make additional investments into customer service, sales and product development.
The Localytics platform allows developers to track user behavior in mobile apps, and create marketing programs that drive user engagement and aquisition. The platform offers targeted push notifications, in-app messaging, and the ability to create and test marketing campaigns and other content to specific groups of users within an app. Localytics tripled its revenues for the fifth straight year in 2013.
“Chasing downloads is no longer the name of the game. The app business has grown up and today our customers’ goals are squarely focused on using apps to drive engagement and long-term loyalty – the ultimate keys to monetization,” said Localytics CEO, Raj Aggarwal.
“The Localytics platform has proven itself over and over, as evidenced by our steady growth. With this injection of capital we will continue to enhance the platform, expand our business internationally and deliver even more value to our customers.”
Localytics is used by over 20,000 apps on more than 1.4 billion devices, with clients such as ESPN, eBay, Fox and the New York Times. More information on the company’s platform and previous funding is available on the Localytics website.