The round was led by investors Eurazeo Growth, Highland Europe, Morgan Stanley Alternative Investment Partners, and Sofina. It is one of Europe’s largest capital raises in the first half of 2019 and brings Adjust’s total funding to $250 million.
As mobile continues to shape today’s marketing practices, Adjust will use the funding to expand its product suite in order to provide marketers with a single platform for all of their needs. Adjust will also increase its presence in new and existing regions.
The global SaaS business provides high-quality analytics, accurate measurement, fraud prevention, and cyber security solutions for over 25,000 mobile apps worldwide. Adjust works with leading global brands, including NBCUniversal, Zynga, Robinhood, Pinterest, Procter & Gamble, Runtastic, Rocket Internet, Canon, HotelTonight, BlaBlaCar, Viber, FNAC, Deezer, Tencent Games, Nexon, Takeaway.com, HelloFresh, Yandex, Manchester United, and Universal Music Group.
The funding round follows a strong period of growth. Founded in Berlin in 2012, Adjust now has over 350 employees in 15 offices around the world. In the past 12 months alone, it has grown its headcount by over 150 employees. Since 2013, Adjust has also more than doubled its revenue every two years and has done so profitably over the past four years.
“This latest round of funding will be instrumental as we continue to unify brands’ marketing efforts, making marketing simpler, smarter, and more secure. The investments we make in our product will further empower our clients to move the needle in their markets, as we become mobile’s definitive growth engine,” said Adjust CEO Christian Henschel in a statement. “Alongside our existing investor Highland Europe, we’re pleased to welcome Eurazeo Growth, Morgan Stanley alternative Investment Partners, and Sofina on board — who share our goal and will play a fundamental part in accelerating our growth strategy.”
While attribution and measurement remain Adjust’s main focus, the company recently acquired several businesses to expand its services and fulfill customers’ growing demands. These include data aggregation platform Acquired.io (U.S.), and award-winning cyber security and AI startup Unbotify (Israel). Adjust recently launched the first of these combined products, its Unbotify standalone solution, which harnesses AI and machine learning to detect in-app bot fraud in real time.
The company also formed a strategic partnership with Japanese marketing agency Adways, acquiring its attribution tool PartyTrack. The acquisitions form another link in the chain to unify advertisers’ marketing efforts, build a best-in-class product, and strengthen the company’s global footprint.
“Adjust reached profitability just three years after its creation, and has seen extraordinary growth since then,” Eurazeo Growth’s Yann du Rusquec said in a statement. “The company is ideally positioned to further expand its product and footprint throughout 2019 and beyond, cementing its position as one of the most successful global tech champions to come out of Europe.”
Highland Europe’s Sam Brooks added, “The mobile industry is constantly evolving, and the Adjust team has proven to consistently innovate and grow ahead of the market. We are fortunate to have been a part of the impressive journey over the past few years, and we are thrilled to be further supporting Adjust on its next stage of growth.”
The transaction is subject to antitrust approval and is expected to close in the coming weeks.
Macquarie Capital and Noerr acted on the transaction as Adjust’s financial adviser and legal counsel, respectively. Katie Hutcherson Madding, global product director at Adjust; Yaron Oliker, CEO of Adjust’s Unbotify; and Steve Peterson, CEO of StoryPHORCE Entertainment, spoke at our recent GamesBeat Summit event, as you can see in the video.