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.'