Amplitude Analytics Secures $9 Million From Benchmark
Company’s Platform Now Supports 25 Billion Events Per Month with Millions In Revenue; Fresh Capital Infusion Will Supercharge Growth
Amplitude Analytics today announced a $9 million Series A funding round led by Benchmark, with participation from existing investors including Quest Venture Partners, Data Collective, Merus Capital, Charlie Cheever, Dave Morin and several angel investors.
Founded in 2012, the company emerged from Y Combinator as a voice-recognition company called Sonalight. Its founders built a new analytics stack to support the project – which had much broader appeal than they expected. "When we shared our new tools with the mobile community, we realized that every product team faced the same issues," said co-founder and CEO Spenser Skates. "They routinely complained about prohibitive volume-based pricing or analytics that couldn’t scale to the data volumes they faced. We knew we could solve both, so we pivoted and Amplitude Analytics was born."
Within 36 months, the Amplitude team has built a mobile-scale analytics platform to meet the needs of millions of companies who want to better understand and grow their user base. Amplitude now has a multi-million-dollar revenue stream with thousands of customers around the globe including Nokia, Rdio, Rhapsody, MapQuest, DoorDash, and Yik Yak.
"Amplitude allows us to make highly informed, data-driven decisions to ensure we’re constantly providing the very best experience for our customers," said Zachary Kinloch, Head of Growth, DoorDash. "Our entire team – from engineering to design to support – regularly uses the service to track the success of our launches and quickly tweak our app based on customer demand. And Amplitude’s behavioral cohorting feature allows us to perform complex analysis and quickly identify which actions in our app lead to long-term user retention."
"Amplitude is the rare company that combines deep technical expertise with business model ingenuity," said Eric Vishria, General Partner at Benchmark. "In the last couple years, companies have had to get much more quantitative on their approach to mobile. Amplitude has built a platform that provides the in-depth analysis and flexibility modern enterprises need. And does so dramatically more cost-effectively than any solution on the market today."
Related News Today: Amplitude Puts An End to Volume-Based Pricing for User Analytics
In a separate press release issued today, Amplitude announced a free version of Amplitude Mobile Analytics that is available now to mobile product teams for up to 10 million events per month. This game-changing move by Amplitude offers for free what other vendors charge $1,000 per month for, liberating one third of the current mobile analytics subscription market.← Back to Press
Amplitude is the Digital Optimization System. Powered by the proprietary Amplitude Behavioral Graph, the Digital Optimization System enables organizations to see and predict which combination of features and actions translate to business outcomes – from loyalty to lifetime value – and intelligently adapt each experience in real-time based on these insights. Amplitude is the brain behind more than 45,000 digital products at over 1,000 enterprise customers and 23 of the Fortune 100, helping them innovate faster and smarter by answering the strategic question: “How do our digital products drive our business?” Learn more at www.amplitude.com.
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