Led by Capnamic, Iris Capital and Target Partners, the company said the funding would be used to improve its two products for app analytics, Adjust.io – which provides information on which referrals are leading to user acquisitions – and Apptrace which provides an overview of how rankings and prices have changed over time.

CEO and co-founder Christian Henschel said: “The mobile industry is continuing to show huge growth and so there is a greater need to make sense of this for developers, brands and agencies.”