App Annie Raises $63m to Expand App Analytics

App-Annie-Funding-From-GreeSpring-Associates-BannerMobile app store analytics provider App Annie has just announced it has raised funding of $63m (£44m) in an investment round led by venture capital firm Greenspring Associates, as the company aims to strengthen its position in expectation of continued growth in the app market.

The company, which launched in 2010, provides data downloads, rankings and app store trend reports to a variety of industries and has become a stable for both tech industry observers and other analysts.

The new capital will be used to improve and expand the firms suite of industry-leading products and further scale global business operations to meet the growing needs of app publishers, including appointing a new member to the board of directors in the form of Zach Nelson, CEO of Netsuite.

The funding round also included participation from existing investors including Greycroft Partners, Sequoia Capital and Institutional Venture Partners, but the majority of the capital was contributed by Greenspring Associates, which also has investments in communications, healthcare and information technology.

“Greensprings deep experience and knowledge of the space made them a natural choice to lead the round,” said Bertrand Schmitt, CEO and co-found of App Annie. “It is clear to everyone now that apps are eating the web. This funding will allow us to further scale our business, accelerate the development of our industry-leading products and continue to build out brilliant teams that deliver vital data and insights to help develop the global app economy.”