– USA, WA – TUNE, the enterprise platform for mobile marketing, raises $27M led by the newly branded Icon Ventures (formerly Jafco Ventures), and joined by Performance Equity Management and Accel Partners. Founded by twin brothers Lucas and Lee Brown and run by their partner and CEO Peter Hamilton, the 250 person Seattle company reached a $60M revenue run rate this month, with plans to accelerate growth in 2015.
Trusted by customers like UBER, Sephora, Trulia, Alaska Airlines, EA, Supercell and more, the TUNE platform helps marketers manage their organic and paid channels on mobile by measuring performance, unifying reporting, and consolidating data management into one place. Used by 60% of the top 20 grossing apps in the app store, and considered the most adopted platform for data driven marketers, TUNE has established an industry standard that the mobile ecosystem is rapidly building upon.
“We were bootstrapped and profitable with 75 people before raising our first round of funding from Accel Partners in 2013. Over the past year we focused on keeping that financial responsibility while substantially advancing our products through rapid development and relevant acquisitions,” said Peter Hamilton, CEO of TUNE. “This year, with the support of our new partners Icon Ventures and PEM, we are providing the full stack for the mobile marketer across their paid and organic strategies, and we’ll be moving faster than ever to support our customers and partners globally.”
“I continue to be impressed by the agility and execution of the team at TUNE,” said Series A investor Rich Wong, Partner at Accel Partners. “I have watched as they’ve scaled operations, shipped new products, and invested heavily in customer service, and it is more clear than ever that TUNE is devoted to the needs of mobile marketers.”
Specifically unique to TUNE, the platform also supports supply side marketing partners by providing HasOffers.com for mobile ad networks, agencies and publishers to measure and manage their businesses. Acting like a billing and reconciliation system for mobile ad networks like InMobi, AdAction Interactive, AppLift, YeahMobi and others, this allows for TUNE to provide the most connected technologies across supply and demand that is available today.
The lead investor, Icon Ventures (previously Jafco Ventures), began in 2013 and has 22 positive exits with a combined market value of $21 billion. Recent exits relating to the mobile category include MoPub and 41st Parameter. Jeb Miller will join the board of TUNE which includes Rich Wong of Accel, co-founders Lucas and Lee Brown, and CEO Peter Hamilton.
“From day one I was blown away by this team. From their tenacity in innovation to the fortitude of a seasoned organization, there is no doubt in my mind they will dominate the category of mobile marketing, acting as the glue that help marketers, networks, agencies and publishers all work more seamlessly together,” said Jeb Miller, Partner at Icon Ventures. “I’m extremely proud to join this team and look forward to bringing all of the resources of Icon Ventures to help TUNE meet the significant milestones ahead and scale as the market leader.”
“With recent investments in companies like Edgecast, Kabam and Maxpoint, and over $13 billion under management, we know this space well, and look for leading organizations in exciting markets,” said Charles Froland, Chief Executive Officer of Performance Equity Management. “Spending time with the TUNE team in Seattle convinced us that they are among the best in their field. We are pleased to invest with them, and we look forward to their continued success.”
About TUNE
Our mission is to make mobile marketing better, for everyone. TUNE is the global leader in enterprise SaaS for marketers and supply side partners to help them measure the performance of mobile marketing across desktop and mobile. Headquartered in Seattle, with global offices including San Francisco, NYC, Seoul, London, Berlin and Tel Aviv, TUNE is the most widely adopted solution to measure mobile marketing performance and trusted by top brands including UBER, Sephora, Trulia, Alaska Airlines, EA, Supercell and more.
About Icon Ventures
Based in Palo Alto, CA, Icon Ventures is a specialty venture capital firm focused on leading Series B or C financings. With over $780 million under management, Icon invests with the world’s leading venture firms in companies that are category winners at their earliest stages of momentum. Icon Ventures investments include iconic, market-leading companies such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks and Proofpoint.
About Performance Equity Management
Performance Equity Management is a private equity firm management over $12 billion in assets under management. Performance equity invests in venture capital, buyout, and distressed funds and companies. The firm is based in Greenwich, CT and was founded in 2005.
About Accel Partners
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, London, New York City and Bangalore, as well as in China via its partnership with IDG-Accel. Accel has invested in over 500 companies, many of which have defined their categories, including Angry Birds (Rovio), Atlassian, Braintree, Brightcove, CAN Capital, Cloudera, ComScore, Dropbox, Etsy, Facebook, Funding Circle, Groupon, Kayak, OzForex, QlikTech, Spotify, Supercell and Wonga.
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