AppsFlyer has secured a $400 million credit line from Bank Leumi, giving the mobile measurement and attribution company additional financing following a major secondary transaction earlier this year, according to Calcalist.
The financing follows a transaction in June that involved more than $1 billion and valued AppsFlyer at $2.7 billion. That deal brought investments from Google, Meta, Unity and adtech company Moloco, while also providing liquidity to several of AppsFlyer’s long-standing shareholders.
According to Calcalist, the new $400 million facility gives AppsFlyer additional financial flexibility to support its operations without raising more equity and diluting existing shareholders.
The June transaction was primarily structured to allow existing investors to sell portions of their holdings. Shareholders that sold shares included General Atlantic, Magma, Pitango, Qumra, DTCP and Goldman Sachs, among others.
Despite the participation of several major advertising and technology companies, AppsFlyer CEO and co-founder Oren Kaniel said at the time that the investments from Google, Meta, Unity and Moloco were minority stakes carrying no control or exclusivity. The structure was intended to preserve AppsFlyer’s independence as a measurement provider while providing capital for continued product development.
The financing arrives as independent attribution and measurement are taking on a changing role within an advertising market increasingly shaped by artificial intelligence. Kaniel has argued that as AI systems make more marketing decisions, independent measurement becomes more important for evaluating those decisions across competing advertising platforms.
Founded in 2011 by Oren Kaniel and Reshef Mann, AppsFlyer provides measurement and analytics technology used by marketers, advertisers and app developers. Its platform tracks user acquisition sources, analyzes customer journeys and measures advertising performance across channels. The company also provides technology for detecting and blocking advertising fraud.
AppsFlyer currently has an annual recurring revenue run rate of approximately $500 million and employs around 1,300 people, according to Calcalist. The company says it is profitable and generates positive cash flow. Its workforce was reduced by approximately 7% last year.
The $400 million Bank Leumi credit line adds another source of capital without changing AppsFlyer’s ownership structure. Combined with the June transaction, it follows a period in which the company has brought several of the largest participants in the digital advertising ecosystem onto its shareholder roster while maintaining that those investments do not provide the companies with control or exclusivity.
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