App Analytics Company Amplitude Lands $150 Million
Amplitude Inc., whose technology helps businesses understand how customers are using their applications, has raised $150 million in new investor funding.
The San Francisco-based company, which announced a Series F funding led by Sequoia Capital this week, now has a valuation of about $4 billion, with $336 million in total funding since it was founded in 2012.
Amplitude’s software gives IT leaders, chief product officers and others insight about how customers are using their applications and what features may need to be tweaked.
With many companies over the past year doubling down on digital efforts to reach customers, demand for the software has grown, said Spenser Skates, co-founder and chief executive of the company.
“[For] every single business, the one part that’s growing is the online business,” said Mr. Skates, who graduated with a degree in bioengineering from the Massachusetts Institute of Technology in 2010. “All the different features, designs, releases they put out there, they need to answer the question, How are those things actually driving and impacting the business?”
Amplitude’s software is part of a growing market of product analytics tools. Such tools are gaining more traction, in part because companies need to create new and better digital experiences for customers to remain competitive, said Al Gillen, group vice president of software development and open source at research firm International Data Corp.
