San Francisco-based data analytics company Amplitude has raised $150 million in a Series F funding led by Sequoia Capital, with the participation from existing investors GIC, Battery Ventures, and IVP.
The new funding round has brought Amplitude’s total funding to $336 million and increased its pre-money valuation to $4 billion.
“Our latest funding round speaks directly to digital innovation as the new competitive frontier, and the central role Amplitude plays in the new digital economy. The winning companies in this era have three things in common: they are leaning into digital-first as a business strategy, they are the disruptors and leaders in their respective industries, and they rely on Amplitude to help them create value and differentiation,” said Spenser Skates, co-founder and CEO at Amplitude. “We thank our investors, customers and partners for their continued confidence and support as we continue to lead and shape the market.”
Amplitude provides solutions for product, marketing, engineering and other teams to let them have detailed product analytics to, for example, track customer interaction and improve outcomes.
The company works with customers such as Walmart, Atlassian, Burger King, Ford Motor Co. The company saw a 50% year-over-year revenue growth in the fiscal year 2020, with 400 new customers and 15 customers at or above $1million.
“In a digital world, the product is the business. Companies that can’t connect the product to business outcomes will be left behind,” said Pat Grady, partner at Sequoia and Amplitude board member. “Amplitude is the gold standard for optimizing digital businesses, and we’re excited to support them in their mission to help every company build better digital products.”