We just raised $210M, and we couldn’t have done it without you

By Oren Kaniel
appsflyer series d funding

I am excited to share with you that we have secured $210 million in a Series D funding led by General Atlantic with participation from our existing investors.

At a $1.6B valuation, AppsFlyer has become the first and only unicorn in the attribution category. Our long-term unbiased and independent positioning combined with our customer-obsessed mindset have allowed us to build something far beyond our wildest dreams. And we are just 1% done.

Since the previous funding round three years ago, AppsFlyer has grown its team 4X to 850 employees across 18 global offices. Our ARR has grown 5X, exceeding $150 million in 2019.

This followed a five-year growth in ARR from $1 million to $100 million that made AppsFlyer one of the fastest-growing SaaS companies. Last year alone, our customers made $28B worth of decisions using AppsFlyer’s attribution platform.

In the last couple of years, we’ve adopted a very long-term vision, measuring the quality of our decisions in a 5-10 year time frame. I am confident that partnering with General Atlantic will allow us to push our long-term mindset forward and have a significant impact on our company, our customers, and on the entire market.

Exciting times like these are an excellent opportunity to thank everyone who has been a part of our journey:

Our customers

  • Thank you for choosing AppsFlyer to represent you – the marketer – and your interests in this complex ecosystem. We see ourselves as the marketers’ best friend, and hope you do too.
  • Thank you for recognizing our unbiased, independent, and transparent approach in a market full of conflicts of interest.
  • Thank you for trusting us with your most valued asset – your customers’ data. We will continue to adopt and lead the highest standards when it comes to security, data privacy, and compliance.
  • Thank you for valuing our efforts to create an outstanding customer experience, and thank you for your understanding, patience, and loyalty when, at times, our delivery fell short.
  • Thank you for your feedback along this journey. It has allowed us to build this robust attribution platform, which is now becoming a core part of the modern marketing stack.
  • Thank you for letting us be a part of your journey and growth.

Our customers’ end users

While we don’t have a direct relationship, you are our north star in every decision we make. In order to do what’s right for our customers, we must first do what’s right for you. This is also why we ask every AppsFlyer employee to have their consumer hat on every day. From enabling a great web-to-app user experience, to leading the highest security and privacy standards. Thank you!

Our partners and ecosystem

  • Thank you for seeing the value in transparent measurement and for taking special care of AppsFlyer’s customers. We will continue working, together, to make this complex ecosystem safer and fraud-free. In an effort to solve the fraud prisoner dilemma and the bleeding cash cycle we hold our partners to the same high standards we hold ourselves, for the benefit of compliant partners, our customers, and the entire market.
  • Thank you for investing in our partnership. We take great pride in the strong relationships we’ve created together and in the deep technical integrations and products we’ve launched.

Our competitors

  • Attribution is extremely hard, complex, and sensitive. Many companies have tried to build attribution platforms. Most have failed. I have a lot of appreciation for what you’ve managed to build.
  • We thank you for challenging us and pushing us to deliver an outstanding experience and unparalleled value to our customers. It crystallizes our unique brand and positioning in the market, as well as our long-term vision.


  • In the early days, back in 2011-2012, more than 40 investors turned us down. While it wasn’t a pleasant experience, I’d like to thank you nonetheless. It made us stronger.
  • Thank you Magma Venture Partners, Pitango Venture Capital, Eight Roads, Goldman Sachs, Qumra Capital, and DTCP (Deutsche Telekom Capital Partners). Thank you for believing that we can grow both personally and professionally to take AppsFlyer to the next stage and build a meaningful business in a complex market.
  • Thank you all for accepting our “Revenue is Secondary” mindset. A framework that maximizes long-term value for customers and for the market.
  • And thank you General Atlantic, for believing in our vision to democratize marketing. We promise to always do our best to make you proud to be a part of AppsFlyer. We are thrilled to be partnering with great people and a special company that has such an amazing track record and philanthropic heritage.
AppsFlyer NY Yankees

The incredible AppsFlyer team

  • In our last internal engagement survey, 97% of you mentioned that you are very proud to be part of AppsFlyer. The fact that you take such pride in your work is what defines our success as an organization. I feel very fortunate to work with such a diverse group of enthusiastic, smart, and empathic people. I learn so much from you every day. Thank you for that!
  • In the very same survey, you gave hundreds of suggestions for improvement. Your willingness to support each other, challenge the status quo (myself included), and embrace change, never ceases to amaze me.
  • Thank you for seeing challenges as opportunities, for your empathy, your honesty, and your constructive feedback.
  • Thank you for your ALL-IN attitude – for acting in the best interest of the company, our customers, and their end users. You demonstrate our customer-obsessed culture day in and day out, and we see the results every day through incredible feedback from happy customers.
  • Thank you for understanding how fortunate we are, and taking the time and effort to give back to your communities through AppsFlyer Cares.
  • Thank you for allowing yourselves to make mistakes and learn. Seeing our people grow and evolve personally and professionally is one of the highlights of my job.

Our friends and families

  • You play a massive part in what we have created. Thank you for letting us dream, for believing in us, and for providing us with much-needed support.
  • Thank you for taking part in our family activities, and for visiting us in the office every once in a while. Our kids.
  • Thank you for reminding us to keep experimenting, make mistakes, learn, and evolve.

Don’t cue in the music just yet, I’m almost done

As attribution becomes a crucial element of every marketers day-to-day, this funding will allow us to continue to execute on our vision of providing marketers with a robust, unbiased, and independent attribution platform.

The natural progression for us is to maintain an open platform for partners and third-party developers. This will enable brands to innovate in ways that are almost unimaginable today. We’re thrilled to have General Atlantic’s support on our journey towards democratizing marketing.

1% Done. I hope you’re ready for the next episode!

Oren Kaniel signature

Oren Kaniel

Oren Kaniel is co-founder and CEO of AppsFlyer. He loves everything mobile and is a creative thinker, listener, talker, and is trying to be a blogger. Oren holds a BA in Computer Science, Cum Laude, from the Technion, and an MBA from IDC, as part of an exchange with the Wharton Business School.

Follow Oren Kaniel

Ready to start making good choices?