A massive and dramatic funding round for Israeli tech: The company AppsFlyer has raised over a billion dollars as part of a Series E funding round, at a company valuation of $2.7 billion – as published this week on the American website Axios, citing sources familiar with the funding details of the deal, which is currently subject to regulatory approvals.
Behind the massive investment stand four of the world's leading advertising platforms – Google, Meta, Unity, and Moloco – each of which purchased a minority stake in the Israeli company. These giants are effectively betting on the growing need for independent measurement tools, precisely at a time when artificial intelligence (AI) is completely reshaping the world of digital advertising.
Oren Kaniel, the company's CEO and co-founder, confirmed the acquisition but declined to comment on the specific details of the deal. "They believe in what we believe in: That attribution and measurement must be independent, objective, and trustworthy," Kaniel stated. "As AI takes on a more central role in how advertising is bought and optimized, the signals feeding these systems are becoming the most significant infrastructure in the industry." Kaniel further clarified that the companies' investments are non-exclusive, and that while each of them is already integrated into AppsFlyer's systems today, they will not receive any preferred treatment.
AppsFlyer, which was founded in 2011, currently operates out of San Francisco, employs approximately 1,300 workers, and works with over 15,000 brands worldwide. The marketing technology company provides cross-channel measurement solutions across mobile devices, the web, and smart TVs, alongside deep linking and data collaboration services.
Prior to the current raise, the company raised a cumulative amount of $300 million. Its last significant funding round (Series D) was held in 2020, led by the General Atlantic fund, within which $210 million were raised at a post-money valuation of $1.6 billion. The company's list of existing investors is rich and includes prominent entities such as Magma, Pitango, Eight Roads, Goldman Sachs Growth Equity, Qumra Capital, DTCP, Salesforce Ventures, and, as mentioned, General Atlantic.
Regarding future plans, Kaniel notes that the current investment will help the company move faster in improving cross-channel measurement and building AI agent-based workflows (agentic workflows). Another major goal before the company is an initial public offering. "This is a milestone, not the final destination," Kaniel clarifies, "We have always believed that AppsFlyer should one day stand as a public company, and this investment is a step on that path."
Meanwhile, behind the scenes of the mega-deal, a broad array of financial and legal advisors was active. The investment bank Goldman Sachs served as the exclusive financial advisor to AppsFlyer, while the Israeli law firm Meitar and the firm Latham & Watkins accompanied it as legal advisors. On the other side, J.P. Morgan served as the financial advisor to Moloco, with the firms Freshfields and the Israeli Herzog functioning as its legal advisors.
The firm Fenwick provided legal counsel to Meta, and the firm H-F & Co. served as the legal advisor for the existing investors in the company.