Boston-based mobile and web analytics company Localytics announced Tuesday morning that it has raised $16 million in Series C, led by new investor and West Coast VC firm Foundation Capital. Existing investor Polaris Partners also participated in the round, according to the release.
The Techstars grad will put the capital towards product development, sales and customer service as well as international expansion.
This news comes just weeks after the company's record-breaking 2013, in which it tripled revenues for the fifth straight year in a row, thanks to the addition of high-profile customers like ESPN, Clear Channel and Sound Cloud to its portfolio. From its offices in both Boston and San Francisco, the company is now used by over 5,000 companies and its tech is active in 1.4 billion devices across the globe.
Said Localytics CEO and Co-founder Raj Aggarwal to BostInno on the company's growth:
Downloading apps is simply just not enough. Engagement is the name of the game, and that’s where analytics come into play. Powerful analytics enable marketers to develop tightly targeted content that yields highly personalized app experiences, and, ultimately, brand loyalty. Thanks to the tight integration of our analytics and marketing products, true closed-loop marketing across all mobile marketing channels is not only powerful, but easy. We’ll use the new funding to accelerate investments in our product development, sales and customer service and to fuel our international expansion.
As part of Tuesday's announcement, Localytics also welcomes Foundation Capital General Partner Ashu Garg to its board of directors.
Since its founding, Localytics has raised just over $24.7 million, with its most recent round a Series B worth $5.5 million in September 2010. Read the startup's secret to scale here.
