Leanplum, the leader in mobile engagement, today announced an add-on raise from
Beijing-based private equity firm Waterwood Group to scale and fuel growth in
China and the greater Asia Pacific (APAC) region, bringing their Series D total financing to $52 million.
Leanplum continues to gain momentum across APAC, where the region's most
innovative brands rely on its platform to drive mobile growth and deeper
customer relationships.
"Chinese
consumers demand a best-in-class mobile experience, however, companies in China
are underserved in terms of sophisticated marketing technology," said Waikit
Lau, partner, Waterwood Group. "We were especially impressed with Leanplum's
A/B testing and data analytics capabilities because it quickly delivers value
to brands in a highly competitive market. In order to meet the exponential
growth in mobile usage, Chinese brands are hungry for the real-time insights
and personalization at scale that only Leanplum provides. We look forward to
working together to build the future of the Chinese
market."
This investment highlights the growing
opportunity for brands to reach mobile consumers across APAC. According to GSMA, more than half the world's mobile subscribers live
in Asia Pacific, and China will account for 21 percent (or 155 million) of the
approximately 753 million new mobile subscribers expected be added globally by
the end of 2020.
"APAC is at the forefront of mobile
adoption, and the potential for Leanplum to help brands across the region reach
such a highly-engaged mobile generation who are on their phones 24/7, is truly
exciting," said Momchil Kyurkchiev, CEO and co-founder, Leanplum. "We're
thrilled to partner with Waterwood because they share our vision for
transforming mobile engagement for the modern marketer."
Today, APAC's most prominent mobile apps
lean on Leanplum to power their marketing campaigns, including:
- Liven, Australia's #1 payment & loyalty platform;
- Lomotif, Singapore-made social video app;
- ofo, station-free bike sharing platform and mobile app based in Beijing;
- TMON, leading Korean e-commerce company, often referred to as the 'Amazon of South Korea.'