Market intelligence firm Sensor Tower has received a $45 million investment from private equity firm Riverwood Capital to accelerate growth and drive innovation.
The investment follows a record year for Sensor Tower having seen its annual recurring revenue grow 65% year-on-year.
Last year also saw Sensor Tower’s employee count increase by 50% over 2018, with the opening of several international offices including one in London.
With the mobile sector forecast to see record revenue and downloads through 2024 across both mature and emerging markets, there is a growing demand for analytics that Sensor Tower hopes to meet with this investment.
“Sensor Tower data is becoming increasingly valuable to enterprises in multiple verticals, ranging from app-first, to app-ancillary and finance,” said Ramesh Venugopal, a member of Riverwood’s investment team.
“The data that Sensor Tower provides will power marketing, sales, product, and research budgets in the future, offering great prospects for future growth.”
Don’t forget to share this post
