Amplitude, developer of a user behavior analytics platform for mobile and web that helps companies achieve sustainable growth and retention, today announced that it has raised a $15 million Series B investment led by Battery Ventures with participation from existing investors Benchmark, Data Collective, Merus Capital and Quest Venture Partners.
With funding from this round, Amplitude will hire key talent, fuel product development of its analytics platform, and expand sales and marketing to meet growing demand for mobile and web customer insights, the company said. Neeraj Agrawal, General Partner at Battery Ventures, will join the Amplitude board of directors.
Founded in 2012, Amplitude has raised $26M to date. This latest round of financing builds on an exceptional year for the company. With more than 150 enterprise customers including Square, LogMeIn, Instacart, and Thumbtack—all of which have substantial mobile presences—Amplitude has grown year-over-year revenues by 300%, its customer base by 100%, and has grown the number of events tracked to 75+ billion events per month.
“With billions of smartphones in use around the world, mobile has emerged as the leading way to access information and services. Amplitude was an early pioneer in recognizing not only the importance of mobile but also the crucial role that analytics would play in helping companies achieve sustained growth,” Agrawal said. “Amplitude’s continued product innovation has resulted in sustained growth and an 80% win rate over the competition.”
The company also officially unveiled Pathfinder, a new analytics tool that exposes all of the different ways users navigate through a product, showing the best paths to increase conversion and retention.