Series D financing was led by Sequoia with Lead Edge joining as a major investor at an $850M valuation
SAN FRANCISCO, Dec. 5, 2018 /CNW/ -- Amplitude, the leading product intelligence company, announced today that it has raised $80 million in Series D funding led by Sequoia Capital. Lead Edge joined the round as a major investor, and existing investors Benchmark Capital, IVP and Battery Ventures also participated. Sequoia partner Pat Grady has also joined Amplitude's Board of Directors.
Amplitude's product intelligence platform enables companies to use insights from customer behavior data in digital properties to drive growth in business outcomes like revenue. Product and growth teams use Amplitude to understand their user experience, ship features and campaigns that have impact, and effectively run their digital product portfolios. Amplitude now serves more than 26,000 customers, including Microsoft, Under Armour, Intuit, Twitter, Bonobos and Peloton. The company will use this new funding to further scale its operations globally and build new solutions to help digital product leaders achieve systematic business growth.
"When we spoke to Amplitude's Fortune 100 customers, it was clear that Amplitude is becoming to product what Adobe is to marketing and Salesforce is to sales: the platform those teams can't live without," said Pat Grady, partner at Sequoia and Amplitude board member. "Every business is becoming a digital business, and digital businesses must deliver delightful experiences for customers. Amplitude is the perfect partner to provide product teams with the platform and processes required to build great products and deliver those delightful experiences."
Modern digital teams rely on product intelligence to create a democratic understanding of the drivers of their core metrics across the company. With close to 6 trillion behavioral records in its proprietary database, Amplitude's growing product intelligence platform further improves customer engagement, acquisition efficiency, and retention.
"Today, every company's future is tied to their digital products. Products with great customer experience are driving growth in the economy," said Spenser Skates, CEO of Amplitude. "These products have become the most critical revenue centers for businesses pursuing digital transformation and yet leaders underinvest in them. At Amplitude, we work with CEOs, product executives and growth leaders to help them run and scale digital businesses with democratic access to product intelligence across their organization."
"Amplitude is a transformative company that helps its clients create the best possible product experiences for end users. We believe Amplitude's addressable market is endless, especially today, when so many companies are focused on product-led growth. It is no wonder to us that many of the world's best product companies are Amplitude customers, and we'd expect it is only a matter of time until many more follow suit. We couldn't be prouder to partner with such a special company," said Mitchell Green, the Founding Partner of Lead Edge Capital.
Amplitude has assembled an experienced global executive team to capture this opportunity across the world. It's been a banner 12 months for Amplitude as a company:
- Opened offices in New York, Seattle, Austin, London, Paris, and Singapore to serve increasing demand from product and digital marketing leaders globally
- Signed new global customers including Samsung, Thomson Reuters, Le Monde, Movile, GS Home Shopping, Ola Cabs, Volaris, Iceland Air, Criteo and Qazkom Bank
- Now employs 230 people, doubling headcount over the last year
- Analyzed close to 6 trillion user behavior actions across 30,000 applications
From our Customers
"Amplitude has revolutionized how Intuit QuickBooks approaches and utilizes product data. Every team can now explore their results and what drives success in real time. This helps us in our mission of giving customers the best experience," said Sam Nordstrom, Global Product Manager at Intuit.
"At HotelTonight, we've learned that the difference between growth and stagnation comes down to how fast your team can experiment, analyze results, share learnings, and ship code. Amplitude's product intelligence platform has helped us maintain our critical speed advantage as we scale," said Madhu Prabaker, Director of Product at HotelTonight.
Amplitude provides digital product intelligence that helps companies ship great customer experiences for systematic business growth. Headquartered in San Francisco with offices in New York, London, Paris, Amsterdam, Seattle, Austin, and Singapore, Amplitude is the cross-platform intelligence solution of choice for modern product and growth teams. Amplitude serves over 26,000 customers including Microsoft, Under Armour, Intuit, Twitter, Bonobos, and Peloton.
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