Bank Leumi Extends $400 Million Credit Line to AppsFlyer

Bank Leumi has provided a $400 million credit line to the company AppsFlyer, as learned by Calcalist. The credit line was in addition to the money the company raised last June, during which it raised over a billion dollars at a company valuation of $2.7 billion. The investment included technology giants Google, Meta, Unity, and the international ad-tech company Moloco.

The credit raised from Leumi is beyond the billion dollars that were used primarily for purchasing stakes from veteran investors in the company, which was founded in 2011. Among the investors whose holdings were partially sold in that round: General Atlantic, the Israeli venture capital funds Magma, Pitango, and Qumra, DTC, Goldman Sachs, and others. The credit line will allow the company to support ongoing operations without the need for additional fundraising that would dilute holdings.

Referring to the investment in June, Oren Kaniel, the company's CEO, said:

"For fifteen years, we have built AppsFlyer around one simple belief, that marketers need reliable and independent measurement. The final agreement we have now signed for investments from Moloco, Google, Meta, and Unity is intended to promote exactly this principle, where each investment is a minority investment, without control and without exclusivity, so that AppsFlyer remains completely independent structurally. As AI technology takes command of a larger portion of advertising decisions, the entire ecosystem benefits from signals that are neutral and not shaped by a market player with its own interest, and attribution and independence become the foundation upon which everything else is built. This new and unique structure not only preserves our neutrality but will allow us to accelerate the pace of innovation and move faster toward our vision, which is to enable better and safer digital experiences for everyone."

AppsFlyer, founded in 2011 by Oren Kaniel (who serves as CEO) and Reshef Mann (who serves as CTO), is the global leader in mobile attribution. For over a decade, the technologies developed by the company for analyzing and measuring marketing campaigns on mobile and digital platforms have provided brands with the basis for making smarter and faster decisions through multi-channel measurement, data collaboration, and autonomous AI workflows.

The company provides an open platform for marketers, advertisers, and app developers, allowing them to accurately identify where new users came from, track the user journey within the app, and receive deep insights into campaign performance and audience behavior, alongside advanced systems for detecting and blocking fraudulent activities that ensure marketing budgets are invested only in real users. The company operates profitably with positive cash flow, shows an annual recurring revenue (ARR) of about $500 million, and employs about 1,300 people, this after it carried out a round of layoffs last year in which it parted ways with about 7% of its employees.