Localytics caps year of record growth with new financing led by Silicon Valley investor Foundation Capital
BOSTON – Feb. 4, 2014 – Localytics (localytics.com), provider of the most powerful analytics and marketing platform for mobile and web apps, announced today it has raised $16M in Series C financing led by new investor Foundation Capital. Existing investor, Polaris Partners, also participated in this round. Localytics will use the new funding to accelerate investments in product development, sales and customer service, and to fuel international expansion. The new financing brings total capital raised to $25M.
The new financing comes on the heels of a record-breaking year for Localytics during which it tripled revenues for the fifth straight year. In 2013, Localytics grew its customer base significantly, with new customers such as ESPN, Clear Channel and SoundCloud joining its already broad customer base that includes industry leaders such as eBay, Fox and Microsoft. The company also opened offices in San Francisco and London. Localytics is now used by more than 5,000 companies, and is installed in over 1.4 billion devices across the globe.
The Localytics platform comprises tightly integrated analytics and marketing products that enable closed-loop marketing across all mobile channels. Businesses use Localytics’ powerful analytics to access granular, actionable data about user behaviors. Armed with these insights, businesses can target and test content and campaigns to specific audience demographics within and outside of the app. The result is a highly personalized app experience for every user, every time, which has a dramatic and measurable impact on engagement and brand loyalty.
“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.”
About Foundation Capital
Foundation Capital is dedicated to the proposition that one entrepreneur’s idea, with the right support, can become a business that changes the world. Foundation Capital has helped companies like Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. Foundation Capital is currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital’s nineteen IPOs include Control4, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, visit www.foundationcapital.com.
About Polaris Partners
Polaris Partners is a $3.5B diversified investment firm, focused in Technology and Healthcare. The firm partners with entrepreneurs to bring disruptive ideas to life. Polaris makes investments across all company lifecycle stages and has offices in Boston, San Francisco, and Dublin, Ireland. For more information, visit www.polarispartners.com.