AppsFlyer secures $400 million credit line from Bank Leumi
What's the deal? Bank LeumiDealroom has a profile for this one. Try Dealroom → has granted a $400 million credit line to AppsFlyer, giving the Israeli mobile measurement company added financing. The facility follows a June transaction that valued the company at $2.7 billion.
Why now? The credit line lets AppsFlyer support ongoing operations without raising equity that could dilute existing shareholders. It provides financial flexibility on top of the more than $1 billion involved in the June deal.
What's the endgame? Founded in 2011 by Oren Kaniel and Reshef Mann, AppsFlyer builds technology to measure and analyse mobile and digital marketing campaigns. Its platform tracks user sources, in-app journeys, and ad performance, and offers tools to detect and block advertising fraud.
The June backdrop: That earlier transaction included minority investments from Google, Meta, UnityDealroom has a profile for this one. Try Dealroom →, and adtech firm Moloco. It was primarily used to give liquidity to long-time backers — including General Atlantic, Magma, PitangoDealroom has a profile for this one. Try Dealroom →, QumraDealroom has a profile for this one. Try Dealroom →, DTCPDealroom has a profile for this one. Try Dealroom →, and Goldman SachsDealroom has a profile for this one. Try Dealroom → — letting them sell part of their holdings.
By the numbers: AppsFlyer says it is profitable and cash-flow positive, with an annual recurring revenue run rate of roughly $500 million. It employs about 1,300 people, following layoffs last year that cut its workforce by around 7%.
In its own words: Chief executive officer Kaniel said the June investments were structured as minority stakes "without control or exclusivity," preserving the company's independence. "As AI takes over more of the decisions, independent attribution and measurement stops being an advantage and becomes the foundation everything else is built on," he said.
The signal: The $400 million facility ranks in the 99th percentile of all-time debt rounds for marketing companies in Israel, a sample of 117. It shows how profitable, cash-generating scaleups are turning to debt over equity to fund growth without diluting shareholders.
Read more: Ctech
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