App Annie is no stranger to fundraising, as the app-based tracking site has gone through three rounds before where it’s raised significant funds. This time around, however, it’s raised its biggest funds to date.
The site has managed to raise $55 million through a round of Series D funding, secured by existing investors like Sequoia Capital, Greycroft Partners and IDG Capital Partners, as well as Institutional Venture Partners (IVP), according to TechCrunch.
In addition to raising a record amount of funds, the site has also introduced a new product that will assist in tracking data for applications. Called “Usage Intelligence,” the program is in beta now, enabling app publishers, marketers, investors and other industry types to learn more about usage patterns within applications. This is one through data on active users, as well as time spent in applications, usage frequency and user retention.
With this program, App Annie allows for research on individual apps, rather than data shared simply through app stores and top games and other applications.
“Usage Intelligence” has been in development for two years, and is being aimed at enterprise customers in general.
Data collection is done through the distribution of high-quality free applications, including VPN software, according to VentureBeat. With the combination of several of these apps, massive reach is gained, enabling the access of data collected – by those who allow their data to be shared, of course.
Regarding the funding, CEO Bertrand Schmitt told VentureBeat, “We have been very fast-growing, and to keep climbing that fast, you need gas.” He speaks, of course, about the site’s fast-paced success, as it now employs 300 people and has shown an increase in revenue by triple.
“We probably have the engineering capacity of our next five or 10 competitors combined,” explained Schmitt. “This product has been two years in the making…and we plan to keep releasing new products.”
Here’s hoping that the new project brings a number of companies on board – though it helps to have a little cash in hand, since the typical App Annie contract goes for $80,000 yearly.
