Tune, a company that bills itself as “the enterprise platform for mobile marketing,” is announcing that it has raised $27 million in Series B funding.
Founded by twin brothers Lucas and Lee Brown (pictured above with CEO Peter Hamilton), Tune was previously known as HasOffers — it rebranded last summer, giving it what Hamilton called “a more flexible, bigger name.” HasOffers was the company’s first product, which helps ad networks manage their relationships with publishers. The second product was MobileAppTracking, which helps mobile publisher see which ad campaigns are driving the most installs, engagement, and purchases.
Those are still the company’s two main offerings, but it sounds there are new products in the works.
“We’ve really focused on increasing our product development … we did some acquisitions and got a lot done,” Hamilton told me. “So we’re to start launching things over the next couple of quarters.”
He added that ad attribution has become “table stakes” — every marketer needs and expects it, but it’s not enough on its own. The biggest request from customers has been to create “a unified dashboard for paid and organic activity,” which is what Tune is working towards — it’s helped on the organic (i.e., non-ad) side by the acquisition of MobileDevHQ.
And the funding, of course, should accelerate all of this. The round was led by Icon Ventures (formerly Jafco Ventures), with participation from Performance Equity Management and Accel Partners. (Accel led the company’s $9.4 million Series A back in 2013.) Icon’s Jeb Miller is joining Hamilton, Lucas and Lee Brown, and Accel’s Rich Wong on the board of directors.
Tune says that as of this month, it has reached a $60 million revenue rate, and that it’s used by customers including Uber, Sephora, Trulia, Alaska Airlines, EA, and Supercell — in fact, it says it’s used by 60 percent of the top 20 grossing apps in the App Store.
Among other things, that suggests the company continues to grow a year after what seemed like a potentially significant blow — its removal from Facebook’s Mobile Measurement Partner program.
“I’m just incredibly proud of the team for adjusting to that,” Hamilton said. “We’re focused on helping marketers do what they need to do. Our retention has been phenomenal, and our customers are committed to the growth of our technologies.”
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