AppsFlyer secures $400 million credit line from Bank Leumi
The new financing follows a more than $1 billion transaction involving Google, Meta, Unity and Moloco that also provided liquidity to some of the company's long-time investors.
Bank Leumi has granted a $400 million credit line to AppsFlyer, Calcalist has learned, giving the Israeli mobile measurement company additional financing following a transaction last June that valued it at $2.7 billion.
The credit facility comes on top of more than $1 billion involved in the June transaction, which included investments from technology giants Google, Meta and Unity, as well as international adtech company Moloco.
The June deal was primarily used to provide liquidity to some of AppsFlyer's long-time investors, allowing them to sell part of their holdings after years of backing the company. Among the investors that sold shares were General Atlantic, Israeli venture capital funds Magma, Pitango and Qumra, DTCP, Goldman Sachs and others.
The new credit line will provide AppsFlyer with additional financial flexibility and allow it to support its ongoing operations without raising additional equity that could dilute existing shareholders.
Commenting on the June transaction, AppsFlyer CEO Oren Kaniel said the investments by Moloco, Google, Meta and Unity were structured as minority stakes, without control or exclusivity, allowing the company to maintain its independence.
“The current deal was inspired by how other technology ecosystems have evolved,” said Oren Kaniel, AppsFlyer’s CEO and co-founder. “Those ecosystems succeeded because companies were able to compete independently while relying on neutral and trusted infrastructure. This foundation enabled new waves of growth and innovation while allowing participants to compete based on their own merits and capabilities.”
“For fifteen years, we have been building AppsFlyer around one simple belief: marketers need trusted, independent, unbiased attribution and measurement. At the beginning, many dismissed it as a feature. We thought it was the foundation. Today, that belief takes its biggest step forward,” Kaniel said. “As AI takes over more of the decisions, independent attribution and measurement stops being an advantage and becomes the foundation everything else is built on.”
He said the structure of the transaction was intended to preserve AppsFlyer's neutrality while allowing the company to accelerate product development.
Founded in 2011 by Kaniel and Reshef Mann, AppsFlyer provides technology for measuring and analyzing mobile and digital marketing campaigns. Its platform is used by marketers, advertisers and app developers to track where users come from, analyze their journeys within applications and measure the performance of advertising campaigns across multiple channels.
The company also provides tools for detecting and blocking advertising fraud, helping ensure that marketing budgets are directed toward genuine users.
AppsFlyer is profitable and generates positive cash flow, according to the company. It has an annual recurring revenue run rate of approximately $500 million and employs around 1,300 people, following layoffs last year that reduced its workforce by approximately 7%.
