Boston app analytics platform Localytics secures $16M in Series C funding
Massachusetts-based firm Localytics announced that it has picked up $16 million in a Series C financing round led by Foundation Capital. The latest funding brings the company's total raised capital to $25 million, according to VentureBeat.
The analytics and marketing platform is designed to assist marketers throughout the whole life cycle of an app. The stages in that life cycle include client acquisition, personalization, analytics, and app testing. The company aims to be a single solution that will improve customers' apps, the report explained.
According to Localyitcs, more than 5,000 companies are now using its platform. The firm experienced strong growth last year. The company will use the new capital to fund its international growth. The firm will also beef up its investments in product and customer services, the report detailed.
Localytics chief Raj Aggarwal said in a statement: "Chasing downloads is no longer the name of the game. The app business has grown up and today our customers' goals are squarely focused on using apps to drive engagement and long-term loyalty - the ultimate keys to monetization. The Localytics platform has proven itself over and over, as evidenced by our steady growth. With this injection of capital we will continue to enhance the platform, expand our business internationally and deliver even more value to our customers."