March 25, 2015
Ashu Garg
We are very happy to announce that Localytics, the only complete platform for app marketing and analytics, has raised a new round of $35 million in funding. We are thrilled to welcome Doug Higgins and the team at Sapphire Ventures who led this new round and join Foundation Capital as well as Polaris Partners to bring total investment for Localytics to $60 million. We are especially excited about Doug and Sapphire Venture’s experience as they bring with them a long line of successful MarTech portfolio investments. [MS1]
Here at Foundation Capital, we believe that Localytics is the market leader in predictive app marketing. And the company has the track record and success to show for it. Localytics continues to grow, now supporting 32,000 apps across 2.3 billion devices for customers including Nordstrom, Nook, and MyFitnessPal. In 2014, the company’s revenues were 2.5x greater than the previous year. And in the past two months alone, they have hired 40 new employees and expanded to over 200 team members across their Boston, San Francisco, and London offices.
While we had been tracking the company for years, when we first met with Raj Aggarwal, CEO of Localytics, in their office over-looking the Boston commons, it was love at first sight. By the time we walked out of the room, we knew [MS2] [AG3] wanted to part of the Localytics journey. Raj’s vision, Henry’s passion and their early lead in app analytics for enterprises made this a “no brainer” decision. And in the last 12 months,the company has taken the next evolutionary leap forward to push beyond analytics to predictive app marketing. It’s this kind of innovative mobile marketing experience that will reinvent marketing as a technical discipline and is a key principle I discuss in my new white paper, MarTech and the Decade of the CMO. Localytics is helping to lead that MarTech revolution by focusing on reaching the right customers at the right time with the right content in a highly personalized manner.
All of this success and momentum couldn’t have been accomplished without the incredible executive team that Raj has built. Congratulations to[MS4] Fasano -VP Sales, David Stack – CFO, Joshua Todd – CMO, Lou S. Orfanos – VP Product, Craig Herman – VP Enterprise Accounts, Dave Witting – VP Customer Success, Justin Khaskar- GM EMEA, and Brian Suthoff – Chief Strategy Officer. I am proud to be a part of this team and excited about the journey ahead of us.