App Annie raises $15m to boost product development | Mobile Industry | Mobile Entertainment

App Annie raises $15m to boost product development

App Annie raises $15m to boost product development
Zen Terrelonge

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Industry / Funding / September 18th 2013 at 1:29PM

Will also look to expand offices across Asia and Europe.

Analytics services provider App Annie has had a busy few months in which it has introduced real-time data tracking and support for Windows Store and the Amazon Appstore.

Additionally, the company's user base has doubled over the past 12 months, while monthly recurring revenues have tripled.

The work has clearly paid off, as App Annie has secured a $15 million Series C funding round to speed up product development, expand its San Francisco-based sales and marketing HQ and expand global offices across Asia and Europe.

The capital has come from Sequoia Capital, IDG Capital Partners, Greycroft Partners, e.ventures and Infinity Venture Partners. Meanwhile, Sequoia partner Tim Lee and uSamp CEO Alan Gould will join the company's board of directors.

Lee, said: "App Annie's products are a must-have for anyone in the mobile industry. We at Sequoia Capital have been using their tools for years to help identify breakout startups."

Google and Microsoft are among the business' customers, and more than 90 per cent of the Top 100 iOS app publishers by revenue rely on App Annie products.

Bertrand Schmitt, CEO of App Annie, said: "When we started App Annie, we had a clear belief that apps were going to completely change the content distribution model, which meant we had an opportunity to reinvent how companies analysed and extracted useful insights for business use.

"We've done that, our growing customer base shows it and we're very thankful to them. While we could have easily raised a larger round, our efficient business model gave us the flexibility to take less, which is a testament to our products and the team we've built."