Around the Net
Localytics Raises $16M In Series C Funding
- Boston Business Journal, Tuesday, February 4, 2014 12:32 PM
Localytics, a Boston-based firm offering mobile app analytics and marketing, announced Tuesday it raised $16 million in Series C funding led by Silicon Valley-based Foundation Capital.
Total funding for the company is now $25 million.
The money will be used to "accelerate investments in product development, sales and customer service, and to fuel international expansion," according to a news release.
Localytics employs 75 across Boston, San Francisco, London and Tokyo, a spokesperson said. Sixty of those employees are located in Boston.
Also participating in the Series C round was existing investor Polaris Partners.
Localytics customers include ESPN, Clear Channel, Microsoft and eBay. Customers use Localytics to access data about user behaviors to target and test content and campaigns to specific audiences.
From the release:
Localytics is now used by more than 5,000 companies, and is installed in over 1.4 billion devices across the globe.
“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.”
“Businesses are operating in a world transformed by the app experience,” said Foundation Capital General Partner Ashu Garg, who now joins Localytics board of directors. “In 2014, the winners will be those that can leverage insights from both mobile and web for competitive advantage across the entire marketing chain. Localytics is uniquely positioned to serve these companies.”
