Hot on the heels of raising a new $379 million fund aimed at startups at the growth stage, Highland Europe has led a $17 million round in mobile app intelligence and analytics startup Adjust. This brings total funding since being founded in 2012 to $30 million.
The Berlin-headquartered company (formerly known as Adeven) — which as additional offices in San Francisco, Istanbul, Beijing, Shanghai, Tokyo and Sydney — offers an open source SDK that enables app developers to track and analyse things like user acquisition, feature releases, and user lifetime cohorts. That data can then be used to better market their wares to users.
Noteworthy, Adjust is also revealing that this year it became profitable, citing the growth of mobile-first companies as key to its own growth. It claims app clients such as Zalando, Rovio and 99Taxis, in addition to brands like Universal Music, Yandex and Sony Music. The startup also works with advertising and media agencies, including Vivaki, Publicis and GroupM.
Meanwhile, Adjust says it will use today’s new capital to accelerate its product expansion, and further develop its ability to filter out fraudulent traffic, and support user-friendly advertising practices and privacy protection in mobile marketing. The latter remains a hot topic in the ad industry, not least in Europe.
Adjust’s competitors include AppsFlyer (which recently raised a $20 million round of its own), Kochava and Tune.