SAN FRANCISCO — Heap, an analytics infrastructure company, has raised $27 million in Series B financing, increasing its total funding to $40.2 million. The round was co-led by Menlo Ventures and NEA, with participation from Initialized Capital and Pear VC, all of whom were existing investors in the company.
Heap is building a fundamentally new approach to analytics that aims to automate as much as possible. Unlike other analytics platforms, Heap automatically captures all app and website user interactions upfront, eliminating the need for manual event tracking. Every team within a company — product, marketing, engineering, data science, customer success, sales — can self-serve to get the data they need to make smarter decisions.
“Existing analytics tools require too much tedious effort. Using them looks more like manual work, not data science. If we can automate away the annoying parts of analytics, then we can make data useful for many, many more people. This has big second-order effects on how businesses get run,” said Heap Co-Founder and CEO Matin Movassate.
The company saw 3x revenue growth in the prior year and will use the new funds to continue growing the team, investing in scaling its infrastructure, and building out its product roadmap.
Founded in 2013, Heap serves over 6,000 companies in ecommerce, SaaS, fintech, retail, media, and beyond, including Zendesk, Twilio, Lending Club, App Annie, Optimizely, Morningstar, Monotype, and Casper.