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IronSource
IronSource
IronSource
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ironSource Ltd. is an Israeli software company that focuses on developing technologies for app monetization and distribution, with its core products focused on the app economy.[2][3]

Key Information

Among others, ironSource was chosen as one of the '20 hottest startups' in 2013 and was listed in the Wall Street Journal "Billion Dollar Startup Club".[4][5] In September 2015, ironSource was named by the World Economic Forum as a Global Growth Company.[6] ironSource has also been named one of the hottest pre-IPO tech companies by Business Insider, and one of Israel's most innovative companies by Fast Company.[7][8][9] IronSource has also received criticism for having a history of distributing malware.[10]

ironSource has over 1000 employees, with more than half dedicated to research and development. Headquartered in Tel Aviv, ironSource also has offices in New York, San Francisco, London, Beijing, Shenzhen, Tokyo, and Seoul.

History

[edit]

Founded in 2010 in Tel Aviv, ironSource provides platforms and tools for application developers including analytics, user monetization, conversion, acquisition and optimization for all devices.[11][12]

In the first quarter of 2013, ironSource acquired Israeli advertising technology and network company AfterDownload Ltd. for $28 million to expand its integrated distribution, installation and value-building tools for software developers, publishers and advertisers.[13]

In August 2013, Ironsource announced merger talks with advertising company Babylon,[14][15][16] but the deal was called off after Babylon lost high-value contracts with Google and Yahoo due to violations.[17][9]

In 2013, IronSource purchased browser add-on startup DealPly[18]

Also in August 2013, ironSource opened an office in San Francisco.[19] In May 2014, they opened an office in Beijing, China.[20] In April 2015, ironSource opened an office in the United Kingdom.[21]

In Fall 2014, ironSource raised approximately $85 million from a group of international investors and acquired the mobile game studio Upopa.[22][23] At this time, IronSource was considered a key company in Israel's 'Download Valley'.[24][25]

In September 2015, ironSource merged Supersonic into its mobile operation for a price estimated to be $200 million. The new organization rebranded itself as ironSource.[26][27][28][29]

In June 2016, ironSource announced the acquisition of Sequoia-backed video technology company StreamRail.[30]

In August 2017, ironSource was reported to be "in advanced talks" to be bought for $1.8 billion by a consortium of investment funds.[31][32][9]

In October 2019, CVC Capital Partners acquired a minority stake in ironSource for over $400 million.[33]

In February 2020, ironSource announced the launch of its new mobile game studio, Supersonic Studios. Within a couple of months, Supersonic Studios "scored three games in the top 10 mobile charts", with their games amassing more than 35 million downloads.[34][35][36]

In January 2021, ironSource acquired mobile advertisement quality measurement company Soomla.[14]

In February 2021, ironSource acquired Luna Labs, the creative management platform and creator of mobile advertisement creation tools like Luna Playable and Luna Replay.[37]

On June 29, 2021, ironSource went public via a merger with an SPAC backed by private equity firm Thoma Bravo Advantage.[38]

In July 2022, Unity Technologies agreed to buy ironSource in an all-stock deal worth US$4.4 billion.[39] On completion of the deal, Unity shareholders will own about 73.5% of the combined company, and current IronSource shareholders will keep about 26.5%.[40] The deal was met with criticism from game developers due to ironSource's affiliation with malware.[10] Unity completed the buyout in November 2022.[41]

InstallCore Malware

[edit]
Main article: InstallCore

In February 2011, the company released its first product, InstallCore, as an open-source SDK[42][43][44] for a cross-platform installer creation tool and advertisement-delivery platform. InstallCore was observed to use stealth techniques to avoid observation by anti-virus and other security software, and to bypass validation checks by signing programs with illegitimate security certificates.[45] This was classified as a Potentially Unwanted Application by Sophos in 2014[46] and by Microsoft Essential in 2015,[47] with Malwarebytes identifying the program as "a family of bundlers that installs more than one application on the user's computer".[48] The product was discontinued in 2020 and is no longer supported by the company.[49]

Applications

[edit]

In September 2014, ironSource acquired gaming company Upopa.[50][51]

ironSource is one of the first mobile SDK providers to support augmented reality advertisements for game developers.[52][53]

On October 3, 2018, ironSource released an advertisement revenue measurement tool that allows developers to measure the effectiveness of advertisement campaigns aligned with other similar tools used amongst developers as means of evaluating return on advertisement spend (ROAS).[54][55]

See also

[edit]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

IronSource

View on Grokipedia
from Grokipedia
ironSource Ltd. was an Israeli founded in 2010 that developed platforms and tools for developers, focusing on , user acquisition, distribution, and to help creators succeed in the app economy. Headquartered in , the company initially launched products like for software distribution before pivoting to mobile solutions, including the ironSource Sonic platform for app scaling and the Aura suite for telecom operators. In 2021, ironSource went public via a SPAC merger with Advantage, achieving a valuation of $11.1 billion. In July 2022, announced its acquisition of ironSource in an all-stock deal valued at $4.4 billion, which was completed on November 7, 2022, making ironSource a wholly-owned . The merger integrated ironSource's technologies into Unity's ecosystem, enhancing tools for developers. Post-acquisition, ironSource's key offerings, such as the LevelPlay ad mediation platform and ironSource Ads for monetization and user acquisition, now form core components of Unity Grow, Unity's suite for app marketing and growth. These solutions enable developers to optimize ad revenue, acquire high-quality users, and gain insights through programmatic advertising and . In 2025, digital rights groups raised concerns over ironSource's AppCloud software preinstalled on devices in the , alleging unauthorized data collection; Samsung and ironSource have denied claims. By 2025, ironSource continues to receive updates, including SDK enhancements for Unity integration, ensuring ongoing relevance in the evolving mobile gaming landscape.

History

Founding and early development

ironSource was founded in 2010 in , , by six co-founders: Tomer Bar-Zeev, Arnon Harish, Omer Kaplan, Eyal Milrad, Tamir Carmi, and Assaf Ben-Ami. The company emerged from Israel's burgeoning tech ecosystem, with the founders bringing expertise in , business management, and . The initial mission of ironSource was to empower software developers with tools to efficiently distribute and monetize their desktop applications, addressing challenges in app deployment and revenue generation during an era dominated by PC software. This focus stemmed from recognizing the inefficiencies in traditional software installation processes, aiming to create streamlined solutions for developers worldwide. In its early years, ironSource launched products such as installers and distribution platforms designed to simplify app deployment, enabling developers to bundle software with additional offers while optimizing user acquisition and earnings. These tools targeted the desktop software market, facilitating easier access to global audiences and supporting monetization through integrated partnerships. The company secured early funding to fuel its expansion, including an $85 million round in 2014 from international investors such as Insight Venture Partners and Vertex Venture Capital, which valued ironSource at over $500 million and supported product enhancements and team growth. This capital infusion contributed to rapid initial growth, with ironSource achieving over 100 million downloads per month by late 2013 and expanding its workforce from around 40 employees in 2012 to over 250 by 2014, solidifying its position in the desktop distribution sector. As the mobile app economy gained momentum, ironSource began pivoting toward mobile-focused solutions in the mid-2010s.

InstallCore era

InstallCore was launched by ironSource in 2010 as a (SDK) designed for Windows, enabling developers to bundle additional software installations with their applications to generate revenue through advertisements. The platform quickly gained traction, reaching approximately 100 million monthly installations by 2012. In November 2014, ironSource expanded InstallCore to support Mac OS X, providing a cross-platform solution after six months of development building on four years of Windows success. The core functionality of InstallCore involved creating customized installation bundles where developers could integrate optional third-party software, such as toolbars or utilities, during the primary application's setup process. IronSource's servers dynamically assembled these bundles in real-time, downloading components and optimizing the sequence of offers to maximize completion rates, reportedly increasing installs by up to 32%. Revenue was shared between ironSource, the primary software developer, and third-party providers based on successful bundlings and user interactions with the embedded ads. This model positioned InstallCore as a monetization tool for desktop applications, particularly , by leveraging bundled promotions. InstallCore faced significant allegations of deceptive practices, including hidden opt-in mechanisms that failed to clearly disclose bundled software and used counterfeit branding to mimic legitimate programs like or . These tactics often omitted essential user controls, such as "back" buttons, and pushed installations even after the main setup, violating guidelines from TRUSTe, , and . A notable erupted in 2015 when InstallCore was implicated in a Bing ads scheme, where fraudulent advertisements disguised as downloads directed users to bundled installers containing unauthorized . Additional claims involved unauthorized redistribution of software and aggressive bundling, leading to trademark infringements and misleading content distribution. In response to these issues, was flagged and blacklisted by major , including Microsoft's Windows Defender, which detected it as a potentially unwanted application (PUA), and , which categorized it under . for its bundling of multiple unsolicited programs. These detections enabled automatic quarantining and removal, highlighting security risks associated with its installation methods. Following the 2015 merger with Supersonic, ironSource began pivoting away from toward mobile and , effectively distancing the product from its core operations. The platform was fully discontinued in 2020 as part of ironSource's strategic shift and preparations for public listing.

Growth and acquisitions

In 2016, ironSource shifted its strategic focus toward the economy, moving away from its earlier desktop-centric operations to develop tools optimized for mobile user acquisition and . This pivot included the launch of , a platform designed to enhance end-user experiences on mobile devices for telecom operators and OEMs, addressing issues like app clutter on smartphones. In , ironSource launched the ROAS Optimizer (Return on Ad Spend optimizer), a tool to automate and optimize campaigns based on in-app purchase and ad , enabling developers to achieve targeted returns more efficiently and incorporating user-level ad to scale user acquisition campaigns profitably across in-app purchases and hybrid models. The following year, in 2019, ironSource released LevelPlay, an ad SDK that introduced in-app capabilities, allowing publishers to maximize by auctioning ad in real-time and integrating with multiple networks seamlessly. These innovations contributed to robust , with the company's reaching $553.5 million in 2021, reflecting a 67% year-over-year increase driven primarily by mobile gaming, which accounted for 79% of total . To accelerate expansion, ironSource pursued targeted acquisitions that bolstered its , creative tools, and overall platform. In January 2021, it acquired Soomla, an firm specializing in quality measurement and monetization insights, enhancing developers' ability to track in-app events and optimize revenue streams. This was followed in February 2021 by the purchase of Luna Labs, which brought creation tools like Luna Playable—a platform for building interactive playable ads—further integrating creative and distribution capabilities. Additional moves included the acquisition of Tapjoy's offerwall and user acquisition technologies, announced in October 2021 and completed in January 2022, expanding ironSource's network footprint following its IPO. Culminating this period of scaling, ironSource prepared for public listing through a SPAC merger with Advantage, announced in March 2021 and completed on June 28, 2021. The deal valued the company at approximately $11.1 billion and raised $664 million in net proceeds, enabling further investment in its mobile ecosystem. Shares began trading on the under the ticker "IS" on June 29, 2021, marking ironSource's transition to a publicly traded entity with over 5,500 customers and a dollar-based net expansion rate of 154%.

Merger with Unity

In July 2022, Unity Software Inc. announced an all-stock merger agreement with ironSource Ltd., valuing ironSource at $4.4 billion, under which each ordinary share of ironSource would be exchanged for 0.1089 shares of Unity common stock. The transaction, approved by shareholders of both companies, aimed to combine Unity's game development tools with ironSource's monetization and user acquisition platforms to create a comprehensive end-to-end solution for creators. The merger was completed on November 7, 2022, with ironSource becoming a wholly owned of Unity, and ironSource shareholders receiving approximately 26.5% ownership in the combined entity. This integration was intended to enhance Unity's capabilities by merging ironSource's ad network with Unity Ads, though it encountered significant operational hurdles. Post-merger integration proved challenging, with reports in 2024 highlighting mismanagement, a toxic work environment in Unity's adtech division, and delays in combining datasets from Unity Ads and ironSource, leading to operational inefficiencies and staff dissatisfaction. These issues contributed to broader restructuring efforts at Unity, including mass layoffs announced in January 2024, amid which all six ironSource founders—Tomer Bar-Zeev (ironSource CEO and Unity Grow president), Omer Kaplan, Eyal Milrad, Arnon Harish, Tamir Carmi, and Assaf Ben Ami—departed the company between January and July 2024. As of 2025, ironSource continues to operate as a Unity and brand, with its products, such as the ironSource Ads network, integrated into Unity's ecosystem for user acquisition and while retaining distinct branding. Ongoing integration efforts persist, including further staff adjustments in early 2025 to align the adtech operations.

Products and services

Monetization platforms

ironSource's monetization platforms enable mobile app developers to generate primarily through in-app , leveraging advanced technologies to connect with multiple ad networks. The core offering, LevelPlay, is an ad SDK that integrates a single codebase to access inventory from more than 20 leading ad networks, optimizing by running a unified that maximizes competition among bidders. This approach supports various ad formats, including rewarded video, interstitial, banner, and native ads, allowing developers to deliver diverse user experiences while prioritizing high effective (eCPM) through waterfall prioritization and bidding mechanisms. Following the 2022 merger with , LevelPlay has been enhanced for seamless integration within the Unity Editor, providing game developers with tools for quick setup via the Unity Cloud platform and automated optimization tailored to gaming environments. This integration facilitates waterfall management and adjustments, enabling developers to balance ad frequency with user engagement in mobile games. Developers can configure country-specific ad groups and instance rates to further refine eCPM performance across global audiences. Key revenue models supported include standard in-app ads delivered via LevelPlay's mediation, offerwalls through Tapjoy integration, and playable ads for interactive testing. Tapjoy's offerwall functions as an in-app where users complete opt-in offers—such as app downloads or surveys—in exchange for virtual rewards, allowing publishers to earn on a cost-per-engagement basis while complementing in-app purchases. Playable ads, a format within ironSource's ad suite, provide short interactive demos that engage users before full ad loads, aiding developers in testing strategies without disrupting . Case studies demonstrate significant benefits, such as uplifts of 20-30% through optimized waterfalls and , alongside improved fill rates that enhance overall ad utilization for developers. For instance, studios like Finz Games reported a 20% increase by leveraging LevelPlay's to streamline ad and boost average per daily active user.

User acquisition tools

ironSource's user acquisition tools are designed to help developers and publishers attract high-value users through efficient, data-informed campaigns, emphasizing scalability and performance optimization across and Android platforms. These tools leverage the company's ad network to deliver , enabling advertisers to reach potential users via interstitials, rewarded videos, and other formats while minimizing costs and maximizing . A key component is the ROAS optimizer, an automated system that dynamically adjusts bids in user acquisition campaigns to meet predefined return on ad spend (ROAS) targets, incorporating both in-app purchase and ad revenue data for precise optimization. This tool enables developers to scale campaigns profitably by continuously monitoring performance metrics and reallocating budgets toward high-ROAS segments, resulting in improved efficiency for apps reliant on subscription or models. The ironSource Ads Network serves as a self-serve platform for executing user acquisition campaigns, allowing advertisers to target specific audiences based on demographics, behaviors, and device types across a vast inventory of mobile games and apps. It includes built-in creative tools for A/B testing ad assets, such as playable ads and video creatives, to enhance engagement rates and conversion to installs. This network connects advertisers to premium placements, supporting bidding strategies like cost-per-install (CPI) and cost-per-action (CPA) for flexible campaign management. Following the 2021 acquisition of Tapjoy, completed in early 2022, ironSource integrated Tapjoy's offerwall technology to support rewarded user acquisition mechanics. Offerwalls present users with opt-in tasks, such as app downloads or surveys, in exchange for virtual rewards within the host app, driving organic-like installs from highly engaged participants and boosting retention through incentivized interactions. Post-merger with Unity in November 2022, ironSource's user acquisition capabilities were unified into the Unity Ads dashboard, providing a centralized interface for campaign creation, real-time monitoring, and optimization across the combined ecosystem. This integration streamlines workflows for developers, enabling seamless access to advanced targeting and scaling features to acquire high-quality users at global volumes while aligning with Unity's broader growth solutions.

Analytics and measurement

ironSource's analytics and measurement capabilities provide attribution tracking, fraud prevention, and to help developers monitor app performance and user . The platform enables precise attribution of installs and in-app events to marketing campaigns, using advanced algorithms to detect and mitigate fraudulent activities such as and install hijacking. Additionally, it supports by grouping users based on acquisition date or , allowing developers to evaluate retention, engagement, and revenue trends over time without relying on calendar-based metrics. Through the acquisition of Soomla in , ironSource integrated advanced in-app event and lifetime value (LTV) tools into its platform, enhancing insights into ad and user . Soomla's tracks granular in-app events, such as ad impressions and purchases, to forecast LTV by predicting future revenue from individual users or cohorts based on historical behavior patterns. This integration allows developers to attribute ad revenue to specific user acquisition sources and optimize bidding strategies for higher returns. Key features of ironSource's analytics suite include compliance with Apple's SKAdNetwork (SKAN) framework, which ensures privacy-safe in environments by aggregating postbacks from multiple networks for real-time visualization and performance insights. The platform also supports incrementality testing to quantify the true causal impact of campaigns, comparing test and control groups to isolate incremental lifts in installs or , particularly for on-device . Furthermore, intuitive dashboards provide ROI calculations by aggregating data on cost per install, return on ad spend, and metrics, enabling data-driven decisions without manual exports. Following the 2022 merger with Unity, ironSource's tools now offer unified reporting across user acquisition (UA) and monetization metrics as of 2025, consolidating data from both ecosystems into a single interface for holistic app performance analysis. This integration streamlines workflows by combining attribution with Unity's broader analytics, providing developers with comprehensive views of ROI and user journeys.

Corporate affairs

Leadership and governance

ironSource was founded in 2010 by a group of executives including Tomer Bar-Zeev, who served as CEO and Chairman; Arnon Harish, who held the role of President and Head of Product; and Tamir Carmi, who acted as . Other key founders, such as Omer Kaplan and Eyal Milrad, contributed significantly to product development and engineering efforts during the company's early years. Following the 2022 merger with , ironSource's integrated into Unity's structure, with Bar-Zeev assuming the position of President of Unity Grow Services, the division encompassing ironSource's monetization and user acquisition tools. However, in early 2024, all six ironSource co-founders, including Bar-Zeev, Harish, Carmi, Kaplan, Milrad, and Assaf Ben Ami, departed the company as part of Unity's broader and layoffs. Bar-Zeev's exit occurred specifically in July 2024. Post-departure, oversight of the former ironSource operations within Unity Grow Services falls under Unity's executive team, with CEO Matthew Bromberg providing strategic direction for the division's growth and integration. Prior to the merger, ironSource maintained a board of directors composed primarily of independent members, including representatives from its founding team and investors such as Shlomo Dovrat and David Kostman. After the merger, the board aligned with Unity's framework as a New York Stock Exchange-listed company, incorporating ironSource directors like Bar-Zeev, Dovrat, and Kostman into Unity's board, which expanded to 13 members to reflect the combined entity's scale. Subsequent changes, including Kostman's in April 2025, further integrated the under Unity's established committees for , compensation, and nominating functions. ironSource's corporate governance practices, now governed by Unity's policies, emphasize compliance with global data privacy regulations, including the General Data Protection Regulation (GDPR) and the (CCPA). The company provides tools for partners to manage user consent and data processing through its SDK and platforms, ensuring adherence to these laws via dedicated privacy addendums and state-specific compliance features. Additionally, Unity's overarching principles promote ethical AI use across its services, including advertising technologies derived from ironSource, by prioritizing responsible model training, transparency in AI applications, and mitigation of biases in ad personalization and targeting.

Global operations

ironSource is headquartered in Tel Aviv, Israel, which serves as a major global hub for the company following its 2022 merger with Unity, and hosts significant activities. The company maintains key offices in , , to support EMEA operations; New York and in the United States for North American activities; , , for Asian markets; and additional sites in Bengaluru, ; , ; and , . Prior to the merger, ironSource employed approximately 1,400 people globally. Post-merger, its operations have been integrated into Unity's workforce of around 5,000 employees as of late 2024. ironSource's global operations emphasize serving app developers worldwide through its and growth tools, with a strong focus on mobile gaming sectors in the United States, , and .

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