Mobile Analytics Firm Swrve Spends Money, Gets More

Mobile segmentation and analytics specialist Swrve has closed a $30m round of funding, which it will use to expand the business, further develop its products, and hire new staff. In addition, the firm has acquired mobile data automation platform adaptive.io for an undisclosed sum.

With bases in San Francisco, New York, Dublin and London, Swrve offers a platform for modeling the consumer lifecycle, processing eight billion 'events' every day to help users understand consumers and target them with in-app campaigns. In September, the firm introduced the Integrated Personalization Engine tool.

The new round of funding, which adds to the $10m raised last year, has been led by Evolution Media Partners (EMP), and the Ireland Strategic Investment Fund (ISIF), with participation from existing investors Acero Capital, and Atlantic Bridge. The investment will also be used to fund the creation of 45 new posts at the company's Dublin base.

Separately, Swrve has acquired adaptive.io, which provides real-time analysis and actions to maximize revenue via a cross-channel and cross-platform data automation system. As part of the deal, Swrve has renamed the adaptive.io product Amplify and appointed the firm's co-founder and former CEO David Lee as Vice President of Strategic Sales for the tool.

Swrve co-founder and CTO Steve Collins (pictured) comments: 'This funding round, with its strong mix of US and Irish partners, and acquisition reflect incredible momentum and growth for the company. It's a good time to be a technology start-up in Ireland and our journey since founding Swrve five years ago certainly reflects that'.

Web sites: www.swrve.com and www.adaptive.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.