Analytics startup Heap raises $55M
Since co-founding Heap, CEO Matin Movassate has been saying that he wants to take on the analytics incumbents. Today, he’s got more money to fund that challenge, with the announcement that Heap has raised $55 million in Series C funding.
Movassate (pictured above) previously worked as a product manager at Facebook, and I interviewed him after the startup’s Series B, he recalled the circuitous process normally required to collect and analyze user data. In contrast, Heap automatically collects data on user activity — the goal is to capture literally everything — and makes it available in a self-serve way, with no additional code required to answer new queries.
The company says it now has more than 6,000 customers, including Twilio, AppNexus, Harry’s, WeWork and Microsoft.
With this new funding, Heap has raised a total of $95.2 million. The plan is to fund international growth, as well to expand the product, engineering and go-to-market teams.
The Series C was led by NewView Capital, with participation from new DTCP, Maverick Ventures, Triangle Peak Partners, Alliance Bernstein Private Credit Investors and Sharespost) and existing investors (NEA, Menlo Ventures, Initialized Capital, and Pear VC). NewView founder and managing partner Ravi Viswanathan is joining the startup’s board of directors.
“Heap offers an innovative approach to automating a company’s analytics, enabling a variety of teams within an organization to obtain the data they need to make educated and, ultimately, smarter decisions,” Viswanathan said in a statement. “We are excited to team up with Heap, as they continue to develop their cutting edge software, expand their analytics automation offerings and help serve their growing numbers of customers.”