Mobile attribution and marketing analytics firm AppsFlyer said it surpassed $100 million in annual recurring revenue in the third quarter of 2018, with growth of 100 percent every 12 months.
The company attributed the revenue increase in part to the 85,000 apps that have marketers using AppsFlyer’s products and services.
“As a customer-obsessed company, our mission is to empower clients to achieve their goals by building best-in-class technology and products,” said AppsFlyer CEO Oren Kaniel, in a statement. “We are excited to offer a product that is the primary working tool for mobile marketers. As more businesses continue recognizing that an attribution platform is a mission-critical tool, I’m humbled that more top brands, agencies, and developers than ever trust AppsFlyer to help them make better marketing decisions, protect their ad spend from fraud, and fuel their own data-driven marketing innovations.”
In the past year, the company has formed partnerships with prominent brands, including eBay, NBCUniversal, Adidas, Hyundai, and Coca-Cola. AppsFlyer’s technology is now found on nearly 7 billion mobile devices, up from 4.5 billion devices at the same time last year.
During the third quarter, AppsFlyer’s media spend increased to $17 billion annually, an 89 percent jump from $9 billion last year. At the same time, AppsFlyer’s anti-fraud solutions resulted in significantly higher savings for marketing departments using its technology — blocking an estimated $6.5 million a day worth of ad fraud, the company said.
“We like to believe that our superior reliability, pace of innovation, service — and the AppsFlyer experience as a whole — played a major role in the selection process,” Kaniel said. “There are no shortcuts here. Hard work leads to consistent results, which manifests in achieving this milestone. Measurement is a crucial component of any budgetary decision, and companies are taking the time to select the best product that suits their needs. Inaccurate data and fraud cause companies to face serious challenges with their media spend — costing them millions of dollars without necessarily being aware of the damage it’s causing until it’s too late. Our scale and market share allow us to provide unique offerings — such as unparalleled attribution accuracy and fraud prevention — by leveraging the trillion-plus mobile events we measure every month.”
AppsFlyer’s headcount doubled from 230 last year to 465, and the company has 15 offices around the world. It has raised $84 million to date since its founding in 2011.
In terms of Annual Recurring Revenue, the number is a key metric used by software-as-a-service (SaaS) or subscription businesses that have term subscription agreements, meaning there is a defined contract length. ARR is the value of the contracted recurring revenue components of term subscriptions normalized to a one-year period.