An acquisition and $17 million in new funding mark a busy morning of big announcements for mobile-app analytics specialist App Annie.
Let’s start with the money. Existing investors Greycroft Partners, IDG Capital Partners, and Sequoia Capital are responsible for the latest round of funding for App Annie, which now has $39 million in total capital. According to the company, the additional investment will help spur new product development, and support entry into new markets.
And speaking of new markets, App Annie’s acquisition of its European-based rival, Distimo is likely to help the company reach potential clients where Distimo has been dominant. Unsurprisingly, a share of the new investment will go toward helping finance the purchase.
The acquisition will more than double App Annie’s workforce (from just over 100 to more than 240), and Distimo’s Netherlands headquarters will be repurposed as a research and development center for the company. The combined entity will have almost 600,000 apps relying on their platform and nearly 270,000 registered enterprise users. Terms of the acquisition were not disclosed, although the deal is reported to have been a combination of cash and stock.
Read some interesting backstory on how the deal came together in this blog report from Lizette Chapman of the Wall Street Journal’s Venture Capital dispatch.
Between its Store Stats, Analytics, and Intelligence, App Annie’s technology is widely used by app publishers and developers, including more than 90% of the top 100 grossing iOS publishers. The company’s solutions provide valuable data and analytics on metrics like downloads, revenues, and rankings, and also track reviews.
Based in Beijing, China, with offices in Hong Kong, Tokyo, Seoul, San Francisco, and London, App Annie was founded in March 2010. Bertrand Schmitt is CEO. The company demoed at FinovateAsia 2013 in Singapore. See a video of the presentation here.