In our third iteration of Growth Clinic, we’re taking a step back and thinking bigger.
To survive, businesses need growth. To achieve sustainable growth we focus on strategies for long-term user retention. But before any of that can happen, there’s one thing that all businesses need to nurture first: a culture of data.
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.
As an analytics company, we’re always thinking about growth. We ask ourselves constantly how we can help our customers leverage data to grow their product and their business. That’s one of the reasons we’ve made growth mindset one of the three cultural values we want every Ampliteer to exhibit.
For Amplitude as a whole, growth mindset doesn’t only pertain to adding more features to the product or getting more customers. It means growing our ideas. We can’t grow as a company if we remain static, fixed in our ways. We can’t grow as a company if the ideas we come up with are unchallenged. That’s why having diversity of thought in the workplace is essential to our company’s success.
Diverse thoughts come from diverse individuals. Diverse teams help to build better products and better companies.
Back in March, with the formation of the diversity team, Amplitude started taking its first steps towards addressing diversity in the workplace.
Today, I want to talk about what diversity is at Amplitude and share our commitment to diversity and inclusion in the workplace.
I want to take a moment to personally thank you, our current customers, for choosing Amplitude as your source of behavioral analytics.
Since raising our Series A just nine months ago, we’ve faced phenomenal growth.
- We’ve gone from tracking 25 billion to 60+ billion events per month
- We have 150+ enterprise customers, including Instacart, Square, LogMeIn, and Thumbtack
You may have caught wind of the exciting things that are happening at Amplitude recently. We refreshed our website and brought our visual brand into this decade (advantages of having an amazing brand experience designer), and a couple days ago, we announced ‘Compass,’ a sophisticated addition to our platform that helps you uncover the user behaviors that do (or do not) lead to their retention.
We’ve spent months writing and talking about retention and working tirelessly to build Compass — a powerful user retention tool in and of itself. Why, though? Because user retention is the cornerstone of sustainable growth. Even if you can produce a flawless graph of daily active users or downloads showing hockey stick-like growth, if the bulk of your users are slip through the cracks within a couple of days, your company is effectively running on fumes. The growth you see just won’t be sustainable. If you can’t retain, you die.
Nothing exhibits financial promise like a company with a telltale hockey-stick growth graph. Pre-revenue, seed-stage companies, in true lean fashion, launch a minimum viable product and then throw all their resources into acquiring users as fast as they can. Most average-sized tech companies spend around 10-20% of their revenue (or ARR) on marketing and sales — some early SaaS companies can spend up to 120%.
On Monday, January 4, 2016, from 8:22 PM PST to 11:37 PM PST, we experienced an outage that prevented our customers from accessing their data on Amplitude. Following the outage, data on Amplitude remained stale until 3:23 PM PST on Monday, January 11, and several important features on Amplitude were inaccessible. We know many of our customers rely on Amplitude being available and up-to-date for their businesses, and we let you down. We’d like to take this opportunity to explain what happened, how we responded, and steps we are taking to prevent future outages like this from happening again.