Sensor Tower receives $45m investment
Private equity firm Riverwood Capital invests following record year for Sensor Tower
Market intelligence firm Sensor Town has received a $45 million investment to accelerate growth and drive innovation.
The investment comes from private equity firm Riverwood Capital, and 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."