Localytics, a US-based mobile analytics provider and alumnus of IBM SmartCamp, attracted $35m yesterday in a series D round led by Sapphire Ventures, a corporate venturing affiliate of software producer SAP.
Investment firm Foundation Capital and venture capital firm Polaris Partners also participated in the round.
Localytics has developed an app marketing and analytics platform that enables companies to run personalised marketing campaigns in an app with the aim of increasing customer loyalty. It is currently used in more than 32,000 different apps across some 2.3 billion devices.
The latest capital will be used to advance development of the company’s platform. It brought Localytics’ overall funding to about $60m, with previous investors including New York Angels, LaunchPad Venture Group, Hub Angels and TechStars.
Localytics won the IBM SmartCamp early-stage competition in New York City in 2011 and went on to compete in the global finals. SmartCap is part of the IBM Global Entrepreneur programme, an international initiative providing startups with access to mentors as well as seed and venture capital investors.
Sapphire Ventures, which originally acted as the corporate venturing arm of software producer SAP, was previously known as SAP Ventures before rebranding itself in October 2014. SAP Ventures had already spun out of SAP in 2011 but the company had remained the firm’s sole limited partner.