Liftoff secures minority investment from General Atlantic to accelerate growth

AI-driven marketing platform for mobile apps Liftoff has closed a minority investment from General Atlantic. 

Initially announced on May 5th, the transaction will see General Atlantic join majority investor Blackstone in backing Liftoff’s growth.

Goldman Sachs and Jefferies served as financial advisors to Liftoff and Blackstone, with Simpson Thacher & Bartlett LLP providing legal counsel. 

For General Atlantic, Morgan Stanley acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Continuous growth 

The company was founded through the 2021 merger of Liftoff and Vungle, two complementary businesses within Blackstone's portfolio. 

Liftoff has since grown under CEO Jeremy Bondy, fueled by product expansion and a focus on customer-driven innovation.

“This moment represents a potent combination of continuity and ambition," said Liftoff CEO Jeremy Bondy in a previous statement. 

“Our partnership with Blackstone has been transformative – over the past three years, we’ve merged Liftoff and Vungle, launched Cortex, and delivered significant momentum.”