Sensor Tower, the popular analytics firm announced today that it is partnering with Riverwood Capital and received $45 million. It started with $1 million in seed back in 2013, now it’s one of the market’s leaders. “Our success didn’t happen overnight, but built instead upon years of forward-thinking innovation and mindful growth. That kind of thoughtful decision-making has led us to this pivotal milestone, as we announce a $45 million growth investment from Riverwood Capital”, reads the blog post.
This is a new chapter in Sensor Tower
The partnership with Riverwood Capital is what Sensor Tower’s founders were looking for. Also, this strategic move will enhance the company’s product roadmap and execution through Riverwood’s “proven executive and operational experience”. Furthermore, Alex Malafeev, Founder at Sensor Tower said the following:
This insight and guidance will be instrumental in maturing Sensor Tower into the global mobile market intelligence leader providing critical data for companies of any size. Although it may seem like a challenging environment within which to pursue this level of concentrated growth, we see this as a critical time for mobile intelligence.
The company has been profitable since it was launched and last year it saw record annual revenue and 65% growth year-over-year. Also, Sensor Tower expanded last year with new offices around the world including one in London. By the time of writing, the company has 74 employees.
Gaming is more popular than ever
During isolation, a lot of people searched for a new source of entertainment, that’s where gaming came in. Previous analytics shows that mobile games are more popular than before. For example, mobile games were setting records in Europe back in March. Also, gaming usage charts were 75 percent up following the outbreak. As always, keep an eye on Mobidictum for the latest news and reports. On behalf of Mobidictum, congratulations to Sensor Tower on their new chapter!