Making it count: Fiksu hits $100 million in revenue on less than $20 million in funding


I’ve been following Boston-based Fiksu—a provider of ad technology for marketing mobile apps—for a few years now, and knew they were doing well. Until now I didn’t realize just how well — as in, $100 million in revenue during the past 12 months.

The company confirmed that figure today, which had previously been reported by Sara Castellanos at the BBJ. The revenue results put Fiksu in a category that contains few other privately held technology companies in the Boston area; DataXu, another Boston ad tech firm, is the only other one at that revenue level that I have reported on.

And for the full year 2014, Fiksu disclosed that it has every expectation of pulling in revenue of more than $100 million.

Previously the company hadn’t offered specifics about its revenue (though the growth of its staff and expansion of office space pointed to a business that was strong).

The size of Fiksu’s business is also notable for another reason, in my mind at least: Founded in 2008, the company has raised only about $18 million in venture capital funding, far below that of other tech upstarts with such conspicuous growth. Most other private tech firms with big revenue in Boston have raised far more — including Actifio ($207 million), Acquia ($119 million), HubSpot ($100 million), and DataXu ($75 million).

Ads for mobile apps

Fiksu offers technology for cost-effectively marketing mobile apps so that they get discovered and downloaded by consumers. The ads placed through Fiksu’s system use a so-called “programmatic” approach, which uses data and artificially intelligent software to target the apps to ideal consumers.

Companies using Fiksu include Coca-Cola, Disney, Topps, Dunkin’ Donuts, and Groupon. The company reports having more than 800 customers in all, with 2,300 mobile apps marketed through its system.

Fiksu employs 260 and expects to reach 300 by the end of the year. The company was founded by chief executive Micah Adler, formerly a tenured professor of computer science at the University of Massachusetts-Amherst and a co-founder of CourseAdvisor.

Investors in the company include CRV and Qualcomm Ventures, and Fiksu hasn’t raised funding since its Series B round of $10 million in mid-2012.

Illustration of mobile apps concept via Shutterstock.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
Follow Kyle on Twitter