SAN FRANCISCO — Amplitude, a digital product intelligence company, has raised $80 million in Series D funding led by Sequoia Capital. The firm now has an $850 million valuation.
Lead Edge joined the round as a major investor, and existing investors Benchmark Capital, IVP and Battery Ventures also participated. Sequoia partner Pat Grady has also joined Amplitude’s Board of Directors.
Amplitude has 230 employees and serves over 26,000 customers including Microsoft, Under Armour, Intuit, Twitter, Bonobos, and Peloton.
Amplitude’s product intelligence platform enables companies to use insights from customer behavior data in digital properties to drive growth in business outcomes like revenue. Product and growth teams use Amplitude to understand their user experience, ship features and campaigns that have impact, and effectively run their digital product portfolios. Amplitude now serves more than 26,000 customers, including Microsoft, Under Armour, Intuit, Twitter, Bonobos and Peloton. The company will use this new funding to further scale its operations globally and build new solutions to help digital product leaders achieve systematic business growth.
“When we spoke to Amplitude’s Fortune 100 customers, it was clear that Amplitude is becoming to product what Adobe is to marketing and Salesforce is to sales: the platform those teams can’t live without,” said Pat Grady, partner at Sequoia and Amplitude board member. “Every business is becoming a digital business, and digital businesses must deliver delightful experiences for customers. Amplitude is the perfect partner to provide product teams with the platform and processes required to build great products and deliver those delightful experiences.”
Modern digital teams rely on product intelligence to create a democratic understanding of the drivers of their core metrics across the company. With close to 6 trillion behavioral records in its proprietary database, Amplitude’s growing product intelligence platform further improves customer engagement, acquisition efficiency, and retention.
“Today, every company’s future is tied to their digital products. Products with great customer experience are driving growth in the economy,” said Spenser Skates, CEO of Amplitude. “These products have become the most critical revenue centers for businesses pursuing digital transformation and yet leaders underinvest in them. At Amplitude, we work with CEOs, product executives and growth leaders to help them run and scale digital businesses with democratic access to product intelligence across their organization.”