Flurry raises $25M, on track for IPO in 2013
Flurry completed a fourth round of funding totaling $25 million, increasing total investment in the mobile app analytics firm to $51.6 million. In addition, the company said it is on pace to file an IPO as early as next year.
Flurry CEO Simon Khalaf told AllThingsD that Flurry selected Crosslink Capital, which led this current round of funding, because of the investor's experience leading startups like Pandora and Omniture to IPOs. In the more immediate future, Flurry is planning to expand its platform to the Asian and Latin American markets--at present, the U.S. generates about 65 percent of revenues, with Europe yielding the bulk of its international revenues.
Besides Crosslink Capital, existing investors Menlo Ventures, Draper Fisher Jurvetson, InterWest Partners, Union Square Ventures, First Round Capital and Draper Richards also contributed to Flurry's fourth round of funding.
Khalaf told VentureBeat that the company's analytics tools are now integrated into more than 250,000 mobile apps, up from 120,000 a year ago; the firm measures 1.9 billion user sessions across more than 250 million devices each day, corresponding to 32 billion daily data points. Khalaf added that about 80,000 companies leverage Flurry services across platforms including Apple's (NASDAQ:AAPL) iOS, Google's (NASDAQ:GOOG) and Microsoft's (NASDAQ:MSFT) Windows Phone.
Flurry services also include AppCircle, which leverages an intelligent recommendation engine in tandem with analytics data to serve targeted app advertisements based on aggregated usage. Khalaf said that AppCircle now delivers more than 120 million ad conversions (app installs based on Flurry recommendations) per month, a three-fold volume increase over last year that has helped the startup become cash-flow positive.
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