Mobile app market intelligence firm Sensor Tower has made its first acquisition. The company this morning announced it’s acquiring Pathmatics, a market intelligence company that will now combine its paid digital and social media platform with Sensor Tower’s business. Deal terms were not detailed but included an undisclosed growth investment from Riverwood Capital into Pathmatics.
The acquisition will allow the companies to offer an expanded set of digital and mobile advertising insights to their respective customers, including new social insights for TikTok, YouTube mobile, and Snap this year, powered by Sensor Tower. The companies will also introduce digital TV (over-the-top) insights, expand coverage for mobile apps and ad insights, and extend Pathmatics’ social and digital range globally.
The deal follows Sensor Tower’s first significant fundraising last year, with $45 million also from Riverwood Capital. Though Sensor Tower had been profitable since its launch, now serving more than 350 enterprise-level customers for its app and ad intelligence products, it chose to raise the additional capital in order to further grow its business, with investments in hiring, marketing, infrastructure and other expansions.