Liftoff closes minority investment deal with General Atlantic

Liftoff, a leading AI-powered performance marketing platform for the mobile app economy, has closed a new minority investment from global growth equity firm General Atlantic, strengthening its capital base and accelerating its next stage of expansion.

The deal, which was first announced in early May, brings General Atlantic alongside Blackstone, Liftoff’s majority investor since 2021. The fresh backing signals strong confidence in Liftoff’s mission to help app developers build, discover, and monetize their apps through an end-to-end AI-driven marketing ecosystem.

Founded through the merger of Liftoff and Vungle under Blackstone’s portfolio in 2021, the company has scaled quickly under the leadership of CEO Jeremy Bondy, who has overseen the launch of new products like Cortex and expanded the company’s AI capabilities to better serve mobile developers worldwide.

“This moment represents a potent combination of continuity and ambition,” Bondy said when the deal was first announced. “Our partnership with Blackstone has been transformative — over the past three years, we’ve merged Liftoff and Vungle, launched Cortex, and delivered significant momentum. Now, with General Atlantic onboard, we’re doubling down on our vision to shape the future of mobile app marketing with AI at the core.”

The combined support of Blackstone and General Atlantic is expected to further boost Liftoff’s customer-focused innovation strategy, enabling it to expand its global reach and strengthen its position as a go-to growth partner for mobile app developers navigating an increasingly competitive market.

Goldman Sachs & Co. LLC and Jefferies LLC served as financial advisors to Liftoff and Blackstone, with Simpson Thacher & Bartlett LLP acting as legal counsel. For General Atlantic, Morgan Stanley & Co. LLC acted as financial advisor, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.