Modify is asserting that it has raised $227 million in new funding.
The corporate, based in Berlin again in 2012, has created quite a lot of advert measurement and anti-fraud instruments — CEO Christian Henschel stated the aim is to “make marketing simpler, smarter and safer.” Modify says it’s now being utilized in greater than 25,000 cellular apps for patrons like InternetUniversal, Zynga, Robinhood, Pinterest and Procter & Gamble.
It’s been almost 4 years because the firm raised its earlier spherical of $15 million. Henschel (pictured above together with his co-founder and CTO Paul Müller) informed me the corporate was already worthwhile again then, and it’s continued to be worthwhile whereas rising income by a mean of 80 % yearly. So it raised more cash (a lot extra), he stated, “because we saw the opportunity … to grow our business even further.”
Henschel pointed to 3 broad areas the place Modify is planning to take a position and develop. First, there’s combating fraud, the place he stated the corporate was “very early,” first launching its cellular fraud prevention suite in 2016. It expanded its choices earlier this yr with the acquisition of Unbotify.
Second, he stated Modify will proceed to spend money on automation and aggregation — an space the place it made one other latest acquisition, specifically the information aggregation firm Acquired.io.
“We’re giving our customers the ability to get rid of the repetitive and boring tasks and really focus them back on thigns that human beings are very good at — that is creativity,” Henschel stated.
Lastly, the corporate (which already has 350 workers in 15 workplaces worldwide) will proceed to spend money on customer support and geographic growth, significantly in Asia.
Talking of acquisitions, Modify says it’s additionally partnered with Japanese advertising company Adways and purchased Adways’ attribution software PartyTrack. So naturally, you would possibly assume that this new capital means much more offers are within the works, however Henschel stated, “Acquisitions are always tough — it’s hard to find the right companies, and even harder to integrate them.”
In different phrases, he’s open to buying extra firms, however he stated, “We don’t have any plans right now.”
This new spherical brings Modify’s complete funding to $250 million. It was led by Eurazeo Progress, Highland Europe, Morgan Stanley Various Funding Companions and Sofina.
“Adjust reached profitability just three years after its creation, and has seen extraordinary growth since then,” stated Eurazeo Progress’s Yann du Rusquec in a press release. “The company is ideally positioned to further expand its product and footprint throughout 2019 and beyond, cementing its position as one of the most successful global tech champions to come out of Europe.”