Branch, the deep-linking startup backed by Andy Rubin’s Playground Ventures, will enter the unicorn club with an upcoming funding round.
The four-year-old company, which helps brands create links between websites and mobile apps, has authorized the sale of $129 million in Series D shares, according to sources and confirmed by PitchBook, which tracks venture capital deals. The infusion of capital values the company at roughly $1 billion.
I remember seeing a talk from these guys when they were brand new at the (now defunct) Where 2.0 conference in 2014. Back then, deep linking was novel and new, and was not widely supported by the mobile platforms.
We use Branch at FATMAP, and I can say it’s a very easy way to get deep links set up across a range of content types in a mobile app.
That they are now worth a billion dollars is on one hand a bit odd: they are basically packaging platform functionality in an SDK and charging app developers for it. There is nothing particularly unique or defensible with what they are doing, and it’s nothing a medium or bigger sized app developer can’t build on their own.
On the other hand, it’s a signal of the health of the app development platform industry. I have to wonder what their exit strategy is though. An obvious potential acquirer would be Google, while would buy it for the data, or Microsoft, who would buy it for the developers and make it part of their overall developer platform.
Either way, they are now a rather expensive acquisition.