App Annie, which provides analytics for app developers and publishers, secured $55 million in Series D funding as it capitalised on the strong progress it made during 2014.
The money will be invested in product development and accelerated international expansion, as well as future M&A activity.
The company saw significant growth in 2014, tripling its revenue and growing its user base by 75 per cent to pass 350,000.
The company also launched the new Usage Intelligence product that provides “highly-actionable” information on active user and engagement trends. Metrics provided include active users, time spend in apps, usage frequency and retention.
App Annie has been working to expand the tools it provides. In December, it launched a new product called Audience Intelligence, aimed at helping industry professionals understand who is buying an app and why.
In addition, it acquired fellow mobile analytics player Distimo in May last year, when $17 million in new funding was also announced.
The most recent funding round was led by Institutional Venture Partners (IVP) with existing investors Sequoia Capital, Greycroft Partners and IDG Capital Partners also contributing.
Eric Liaw, general partner at IVP, will join the board of directors as part of the funding agreement. Shazam, Snapchat, Supercell and Twitter are among the companies in which IVP has invested.