Localytics Raises $2.5 Million in Series A Funding
Date: Friday , April 29, 2011
Localytics, a Boston based Software Company offering mobile apps, has raised $2.5 million in Series A from Launchpad Venture Group, New York Angels and Hub Angels. The company had previously raised $700,000, this along with the present round brought the total funding raised by the company to $3.2 million. The company is planning to use this funding to expand their product portfolio to meet the demands of the mid-market and to increase sales capacity. “The need for mobile app analytics is exploding, fueled by continued growth in smartphones and the huge impact of Apple’s iPad, Samsung’s Galaxy and other tablets,” says Raj Aggarwal, CEO of Localytics. “This new financing will enable us to better meet that demand, as well as expand our product portfolio to meet the needs of the mid-market,” added Aggarwal.
Localytics provides a comprehensive mobile analytics platform to publishers of apps for iOS, Android, BlackBerry and Windows Phone 7 platforms. Their products are utilized to monitor basic usage, custom events, and it also helps publishers to generate custom segments and chart results with hourly granularity.
Localytics, with its Enterprise offering, already helps the publishers of Smartphone and tablet applications provide more successful and profitable apps to over 50 million end users. Their customer portfolio includes companies like Skype, News Corp., RueLaLa, Bluefly, Turner Broadcasting and the likes.