Localytics secures $5.5Million in Series B Funding
Date: Monday , October 01, 2012
Localytics secured $5.5 million in Series B financing from Polaris Venture Partners. All the existing investors including New York Angels, Launchpad Venture Group, Hub Angels and Progress Ventures also participated in the funding. The company also launched a new app marketing platform on its enterprise app analytics service. The enterprise app analytics and marketing solution supports over 350 million devices. The new funds will be used to expand the app analytics and marketing automation platform.
The provider of app analytics and app marketing for the mobile market, Localytics was founded by Raj Aggarwal. Earlier in 2011, the company has raised $2.5 million in venture round of funding and till date has raised around $8.5 million.
“App marketers have an amazing opportunity; they have already built a personal relationship with users and have a place on their phone or tablet. Our app marketing platform builds on app analytics to optimize communication with those app users when and where messages can have the greatest impact, while they are using their apps,” says Raj Aggarwal, Co-founder & CEO of Localytics.
Localytics’ app marketing solution drives customer engagement and conversions by delivering actionable messages to app users within the app experience. By integrating app analytics and marketing, app publishers can deliver these messages to users in real-time based on their app usage. App analytics are then used to optimize and measure the performance of each message against the engagement, monetization and customer lifetime value goals set by the marketer. Localytics gives the tools to optimize the app, from initial customer acquisition through continuous improvement of customer engagement to maximizing revenue from in-app purchases, subscriptions, and more effective advertising.