Heap Reels In $110 Million Series D

<p><strong>SAN FRANCISCO &&num;8211&semi;<&sol;strong> Heap&comma; a digital insights platform&comma; has closed &dollar;110 million Series D round at a &dollar;960 million valuation&period; The funding will be used to scale Heap’s global operations and accelerate research and development of the industry’s most advanced digital analytics platform for product builders&comma; growth marketers&comma; and fast-moving analytics teams&period; Sixth Street Growth led the round which included new investment from the Growth Equity business within Goldman Sachs Asset Management &lpar;Goldman Sachs&rpar;&period; Sixth Street and Goldman will both receive representation on Heap’s board of directors&period; Existing investors NewView Capital&comma; Menlo Ventures&comma; DTCP&comma; Triangle Peak Partners&comma; Alliance Bernstein Private Credit Investors&comma; Maverick Ventures&comma; and The Private Shares Fund also participated&period; Heap’s total capital raised stands at &dollar;205 million to date&period;<&sol;p>&NewLine;<p>&&num;8220&semi;McKinsey research notes that while there are 100 million hits on agile transformation&comma; two-thirds of organizations that are looking to become more agile are still treading water and achieving little or no business impact&comma;&&num;8221&semi; said Ken Fine&comma; CEO of Heap&period; &OpenCurlyDoubleQuote;Our new funding will help us further innovate to foster the significant business outcomes that McKinsey says can be achieved&comma; including &&num;8217&semi;30 percent gains in efficiency&comma; customer satisfaction&comma; employee engagement&comma; and operational performance&period;'&&num;8221&semi;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Heap’s data-driven culture&comma; strong technology leadership&comma; and scalable architecture has made it a leader within the fast-growing digital insights sector&comma;” said Michael McGinn&comma; Partner and Co-Head of Sixth Street Growth&period; &OpenCurlyDoubleQuote;Their strategy for continuing to create innovative technology will put more advanced and easy-to-use digital insights into the hands of daily practitioners so they can quickly improve their products and accelerate their business&period; We look forward to supporting Ken and his team in their next phase of growth&period;”<&sol;p>&NewLine;<p>The latest funding will continue to facilitate the company’s rapid product innovation&comma; which in 2021 saw Heap release Illuminate&comma; a data-science powered solution that solves the problems of legacy tools that are ill-equipped to respond to the increasing complexity of the modern customer journey&period; By automatically collecting all customer interactions&comma; then using data science to offer actionable recommendations&comma; Illuminate gives teams insight far beyond traditional analyses—which according to recent research across thousands of digital companies&comma; hinges on misleading or incomplete data 84&percnt; of the time&period;<&sol;p>&NewLine;<p>The funding caps a strong year for Heap&period; In addition to the launch of Illuminate&comma; the company reports triple-digit growth and received coveted industry recognition&comma; including being named Snowflake’s FY2021 Data Marketplace Partner of the Year&period; The company also announced a series of key executive appointments including Rachel Obstler as EVP of Product&comma; Ahmed Quadri as Chief Customer Officer&comma; Sean Andrew as Chief Revenue Officer&comma; and Steve Love as Chief Financial Officer&period;<&sol;p>&NewLine;