Department Metrics Raises $15 Million For Its Smarter Cellular Deep Linking Know-how
Palo Alto-based mostly Department Metrics, one of many many corporations targeted on creating higher cellular deep linking know-how – that’s, hyperlinks that time customers to particular pages inside cellular purposes themselves – is saying in the present day the shut of its $15 million Collection A spherical of funding, led by present investor New Enterprise Associates (NEA) and TriplePoint Capital President Ben Narasin, who invested personally. Additionally collaborating within the spherical have been Pejman Mar Ventures, Zach Coelius, Cowboy Ventures, and the agency TriplePoint Capital itself.
We perceive that the extra funding values the corporate at $seventy five million, publish-cash. So far, Department Metrics has raised $17.seventy five million, together with its seed spherical which simply closed this previous fall.
The corporate wasn’t out in search of new funding, however fairly had buyers coming to it as an alternative, following its speedy progress.
In September 2014, the corporate had signed up some 30 app builders who have been utilizing its deep hyperlinks with their very own purposes, and had one other 30 within the works. At this time, Department Metrics says it added simply that many new clients up to now week alone, and now has near 500 apps stay on its service, with a couple of hundred extra in progress.
These builders, which embrace names like iHeartRadio, Instacart, Espresso Meets Bagel, HotelTonight and extra, have created over 20 million hyperlinks to pages inside their apps, and the corporate expects that quantity to develop to greater than one hundred million over the subsequent few months.
What makes the product compelling is how its deep hyperlink know-how works.
There are a selection of different corporations creating comparable instruments for linking to pages inside apps, together with URX, Deeplink.me, Quixey, Tapstream, Appsfire, and extra. However Department Metrics’ hyperlinks can ship customers to a selected web page within the app after a brand new consumer installs the app for the primary time. Many different options, then again, solely work when a consumer already has the app put in on their cellular gadget, and solely factors the consumer to a obtain from the app retailer once they don’t. And when that newly downloaded app is opened, it merely shows the app’s primary web page, because the context is misplaced.
Department’s hyperlinks are totally different, and carry the consumer by way of the deep linked content material after the set up. The shortened hyperlinks can be absolutely tracked, permitting clients to measure clicks, installs and different down funnel actions.
Explains co-founder Alex Austin, Department Metrics’ clients are drawn to the service as a result of its hyperlinks might help them monitor their natural progress. The app publishers have been by no means earlier than capable of monitor and measure issues like their referral packages, their invite hyperlink clicks or sharing options, for instance.
Specializing in consumer acquisition and progress is Department Metrics’ foremost focus, he notes, not getting customers to re-interact with apps they have already got put in.
“We’ve popularized deep linking by making it related for progress,” Austin provides.
That is an space the place there’s an enormous ache level within the cellular app business, because the variety of new app releases each month exhibits no signal of slowing. There have been forty,000 new apps submitted to the app retailer final month, for instance, and the highest shops at this time have over one million apps every.
Department Metrics will use its funding to enhance its present product, together with its on-line analytics dashboard which provides insights to app makers as to which channels to concentrate on, how you can enhance app options and extra.
“We’re successfully making an attempt to productize the expansion hacker,” says Austin. “We need to substitute that position within the firm with our dashboard.”
In the present day, Department Metrics’ deep linking know-how is being offered free to its clients, as the corporate believes the one method to make it the usual within the business is to make it one thing of an open, group device. Its enterprise mannequin, as an alternative, features a lengthy-time period imaginative and prescient for serving to its clients get their apps found by means of some kind of shopper-dealing with service.
Austin declines to supply extra particulars on this, solely saying that this service, which continues to be a few years out, will “take the world via the identical evolution that they noticed within the ninety’s with net content material.”
Department Metrics, at present a workforce of thirteen full-time, plans to develop to forty five or 50 by yr-finish.