Amplitude Raises $30M to Build the Next Generation Product Platform

We have a lot of exciting news to share today – our Series C raise, the progress we’ve made as a company over the last 12 months, and the incredible team we have built in San Francisco and Amsterdam which made all of this possible. But first, I want to share with you the vision that has guided our journey.

The Dawn of the Product Age

Ten years ago, the internet revolutionized marketing. It was a new way to sell goods and services to the world. In the US alone, companies spent $72B in 2016 on digital advertising. As a result, marketing became a key function at many companies. The advent of mobile and web applications has changed that forever.

Today, product-led companies are taking over the world. From Facebook and Netflix to Capital One and Geico, our entire lives and interactions with businesses are inside digital products. Product has become the new everything. It’s your brand, your competitive advantage, your distribution channel, and the driver of your customer loyalty. No one can build a successful company today without an obsessive focus on building great products that deliver the best user experience.

Are you a Product Maker using Poor Tools?

This is for you. Most product teams are stuck using software built for marketers like Google Analytics and Adobe Marketing Cloud. Others rely purely on data scientists to understand their users—outsourcing the most important part of their job. There are hundreds of solutions in the market that will help you “become data-driven”.

Amplitude is focused on helping you build a better product. Amplitude is built from the ground up to help modern product teams succeed. Thousands of product teams across companies like Microsoft, Capital One,PayPal, and Twitter use our powerful solution everyday to understand user behavior, ship product faster, and achieve their business goals.

A typical Amplitude user asks and answers over 50 questions every week. Product managers, engineers, growth hackers, data scientists and designers collaborate in Amplitude everyday. They learn fast, pick the right features to build, double down on ideas that work, and ultimately ensure that each new version of their product gives customers more value than the last.

Amplitude Raises $30M

To help us build the next generation of mission critical infrastructure for product teams, we’ve raised $30M in Series C funding from IVP.

We are excited to partner with Somesh Dash who will be joining our Board as an Observer. As your company grows, it becomes harder to find quality advice. IVP has a long track record of working with successful growth stage companies. We are also excited to share that industry product leaders Tien Tzuo, founder and CEO of Zuora, Jyoti Bansal, founder and former CEO of AppDynamics, and Phil Fernandez, founder and former CEO of Marketo, are now investors and advisors.

More important than funding, we’re delighted to share that we’re working with an amazing set of customers. An increasing number of them are some of the most forward thinking Fortune 500 Companies around the globe. Over the last 12 months, some of the new customers we’ve added include Microsoft, Capital One, Autodesk, Twitter, PayPal, Booking.com, Yellow Pages, and HubSpot.

As a founder, I feel proud to see how far we’ve come since we launched Amplitude in 2014. Our vision has grown with the company. We raised our Series A in 2015 to give mobile teams direct access to the behavioral layer of their user data for the first time. In 2016, we raised our Series B to help product teams gain a scalable, cross-platform view of all user behavior and discover their magic moment. The growing importance of product teams in Enterprise companies and their urgent need for effective analytics solutions like Amplitude has fueled 3x growth in our business over the last year.

The Incredible Team at Amplitude

The last and most important thing I’m proud of is the team that we’ve built. Since January, we’ve doubled our company from 50 to 100 employees, built out a wonderful executive team (all of whom have taught me a lot about leadership in one form or another), and successfully launched operations in Europe to cater to growing demand from global product leaders.

Our team has gone above and beyond to serve our customers’ best interests. Whether it’s shipping new features to address customer pain every week, supporting our users’ needs at any hour or day, or understanding the problems of prospective customers, I’m proud of how the Amplitude team has executed the details right to make ambitious things we’ve done possible. In 2016, we also made diversity and employee equity a priority for our organization and are proud to share that in 2017, 50% of all new employees hired by Amplitude were women.

The Future is Bright for Products

The future of building a successful company lies in building great products. Amplitude is just getting started on it’s path towards becoming the #1 product platform for companies. We’ve been busy building new product lines ourselves this year and have some big announcements coming up next month that we can’t wait to share.

A big thank you to all the amazing Amplitude customers and product makers that pour their hearts into creating great products and user experiences for the world. Also,a big thank you to the incredible team at Amplitude and all our partners and community that puts helping product makers first and foremost. If you too are passionate about building great products and love a challenge, join us!

-Spenser Skates

Amplitude Team in July 2017

P.S. We also wanted to share the deck that we raised the Series C and encapsulates our vision for a product led world. [slideshare id=78715426&doc=amplitudeseriescdeckabridgedaugust2017-170810000047]

Comments

Daniel Peris: Cheers