Sensor Tower, the leading, trusted source of enterprise-grade market intelligence for the mobile app ecosystem, announced a $45 million investment from Riverwood Capital. This strategic partnership marks a new phase in Sensor Tower’s continuing mission to develop a cutting-edge analytics platform that delivers the industry’s most accurate data on the mobile ecosystem.
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Sensor Tower previously raised a total of $1 million in seed investment and has been profitable since its founding in 2013. By emphasizing agile product development, a scalable and easy to use product, and highly personalized and responsive customer service, Sensor Tower achieved a record year for annual recurring revenue (ARR) in 2019, with 65% growth year-over-year. Operationally, employee count increased by 50% over the previous year, and Sensor Tower has opened several international offices to support regional demand, including its latest in London to serve the EMEA market.
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“Sensor Tower not only supports an impressive range of enterprise-level customers such as Morgan Stanley, Zynga, and Tencent but also has equally impressive business fundamentals. As mobile becomes less driven by convenience and more of a daily necessity, we see Sensor Tower as becoming the platform the world relies on for mobile data. In addition, the company is led by visionary founders and a committed management team, who we are excited to partner with,” says Jeff Parks, co-founder and managing partner of Riverwood Capital.
Sensor Tower’s acceleration comes at a unique time in the mobile market: According to an eMarketer report, U.S. adults will, on average, spend three hours and 43 minutes on mobile devices per day, with 90% of that time spent in apps. With record downloads and revenue forecast through 2024 across mature and developing markets alike, reliable app data has become critical not only for mobile-first app developers, but also for major consumer brands and financial institutions. Through this partnership, Sensor Tower will focus on innovating and redefining mobile market intelligence.
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