Four months after closing a $13 million series A round, AppLift has announced an additional investment of $7 million from Prime Ventures.
In addition to bringing Prime Venture's investment in the German user acquisition platform up to $20 million, the new investment will allow AppLift to continue its global expansion and refine its proprietary lifetime value optimization technology.
Outside of the new investment, AppLift also announced the hiring of Rocket Internet managing directors Dr Hendrik Harren and Stephen Chung.
Harren has signed on as MD and COO while Stephen Chung is AppLift's new MD Asia.
Lift me higher
AppLift has opened offices in San Francisco and Seoul in 2013, also revealing that it's delivered more than one million users per month to its largest partner.
"AppLift has overperformed significantly since our initial investment. The company has a world-class team in a fast-growing market. We are happy to support their fast growth, not only with our expertise but also with additional capital," said Prime Ventures partner Roel de Hoop.
Reflecting on the past four months, AppLift CEO and co-founder Kaya Taner noted that "We were approached by many other investors who were interested in a follow-on investment.
"We spoke with several of them but finally decided to give the additional volume to Prime Ventures. We are very happy with our collaboration and their contribution to our growth."