Yesterday, Leanplum announced a Series D add-on investment from a Chinese private equity firm to fuel growth in China and the greater Asia Pacific region.
The company has announced the add-on raise from Beijing-based private equity firm Waterwood Group to scale and fuel growth in China and the greater Asia Pacific region. Its Series D total financing comes to $52 million.
Leanplum is continuing to gain momentum across the Asia Pacific.
Waikit Lau, partner of Waterwood Group said: “Chinese consumers demand a best-in-class mobile experience, however, companies in China are underserved in terms of sophisticated marketing technology. 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.”
Momchil Kyurkchiev, CEO and co-founder, Leanplum added: “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. We’re thrilled to partner with Waterwood because they share our vision for transforming mobile engagement for the modern marketer.”
According to GSMA, more than half of the world’s mobile subscribers live in Asia Pacific. This means China will then account for 21% of the estimated 753 million new mobile subscribers to be added by the end of 2020.
Leanplum has worked with Tinder in the past on optimising push notification engagement.
Visit Leanplum’s website here.