Amplitude Announces $15M Series B
You deserve better analytics to grow your product and bring value to your users. Plain and simple.
For us, that means bringing you the best-in-class web and mobile behavioral analytics platform so you can understand your users both today and well into the future_._ It means bringing you powerful, point-and-click analytics that lets you perform queries that would’ve once required teams of data scientists. It means bringing you behavioral analytics that gives your whole company insight into how your users navigate your product.
“We chose Amplitude because it has a fantastic look and feel and we’ve found it to have better out-of-the-box analytics capabilities than its competitors. I love that I’m able to dive right into Amplitude to better understand our products’ user behavior – I can even give access to folks without an analyst background so they can quickly spin up some segmentation charts and dashboards to share with their teams. It is truly a versatile and powerful platform.”
-Mike Murray, LogMeIn
To continue building our platform in new and advanced ways, I’m excited to publicly announce that we’ve closed $15M in Series B funding, led by Battery Ventures. We’re adding Neeraj Agrawal to Amplitude’s board of directors, who will help us grow the team and advance the product so we continue to be the best-in-class behavioral analytics platform for you. You can read the full press release here.
We also have several other exciting updates that will help you understand user behavior at a deeper, more sophisticated level, including a new tool called Pathfinder, a brand-new backend architecture, as well as a Retention Playbook in the works.
Pathfinder: Discover the Paths Users Take Through Your Product
Most people are familiar with conversion funnels. You use funnels to investigate one path that your users take through your web or mobile app that results in conversion. But if there’s one thing that our customers have shown us,users can surprise us. What if the steps in your funnels aren’t necessarily the way users navigate your product? Pathfinder lets you explore all the actions your users take from any point in your web or mobile app, including the different ways users end up converting. You can even investigate how certain segments or behavioral cohorts of users behave differently using Pathfinder.
Pathfinder allows you to see all the paths your users can take in your product.
Pathfinder takes the guesswork out of figuring out how your users actually use your app by simply showing you. Mobile payments company Square, for example, uses Pathfinder to “get into their users’ heads” and figure out where they’re getting stuck.
“We heavily use Amplitude’s Pathfinder and user activity streams to get in the heads of our users and understand how they navigate through the product, finding where they’re getting stuck or confused.”
-Anne Yeung, Square
Nova: The Backend Architecture for Understanding User Behavior
A couple weeks ago, we officially launched Nova, Amplitude’s new backend architecture built to push the boundaries of behavioral analytics. What does this mean for Amplitude users? We’re now processing over 75 billion events per month and we’re returning 95% queries within three seconds. Our users have reduced query times by 50%, while having the ability to track and access more data than ever before.
One More Thing to Help You Increase Retention
Lastly, we already have some new resources and tools in the works to help you understand user behavior and increase conversion, retention, and engagement. One thing to keep an eye out for this fall is the launch of our Retention Playbook. The Retention Playbook is a comprehensive guide filled with data-backed retention strategies, frameworks, and best practices that we compiled from working closely with 8 growth teams across different verticals and through talking with thought leaders like Brian Balfour and Nir Eyal.
“Amplitude’s playbook methodology uncovered hidden gems in our data that led to key product changes. These changes subsequently improved our retention by 15%. It’s exciting to work with a company that really helps us find success, and not just collect data.”
-Alex Tew, Founder & CEO, Calm
This round of funding goes a long way toward supporting Amplitude’s vision and direction with regards to behavioral analytics. In the future, we’ll continue to add to the industry’s best behavioral tools and resources, like Pathfinder and the Playbook, to take your understanding of your users to the next level.
Last Updated: 05/17/18