Mobile app marketing platform Liftoff has secured the backing of Blackstone through a majority investment.
The exact amount of funding has not been shared. However, according to VentureBeat, the figure is in the region of $400 million.
Through the strategic partnership, Liftoff will use its newfound cash to expand its global print, accelerate investment priorities and fuel future growth.
“Liftoff is a market leader and a key growth partner for many of the world’s leading mobile app developers through its extensive global reach and strong programmatic capabilities,” said Blackstone managing director Sachin Bavishi.
“This investment reflects our high conviction in both mobile content and mobile advertising, and we believe that Blackstone’s extensive resources and expertise will help enable Liftoff to further capitalize on its strong momentum and significant growth potential.
“We are very excited to partner with Liftoff’s talented founders to continue to provide best-in-class solutions to the industry.”
Blast off
Liftoff was founded in 2012, with its tech having been used in more than 90 countries and by over 500,000 mobile publishers.
The company has its HQ in Redwood City, California. However, it has various offices worldwide, including in Paris, London, Singapore and Tokyo.
“We’re excited to be partnering with Blackstone, one of the premier private equity firms in the world,” said Liftoff CEO and co-founder Mark Ellis.
“Blackstone’s expertise will be invaluable as we continue to scale our company globally, expand our product offerings and help more mobile marketers build a growing audience of engaged users for their mobile experiences.”
