Amplitude Analytics, a buzzy Bay Area startup that tracks online user behavior, is now valued at $1 billion by DavidJeans2
A buzzy Bay Area startup that tracks online user behavior has raised a fresh round of funding from Sequoia Capital and Benchmark Capital at a $1 billion valuation.
San Francisco-based Amplitude Analytics, which provides software to companies that helps monitor which online products and features jive with customers, raised $50 million in a series E funding round led by Singapore sovereign wealth fund GIC, the company tellsDemand for its product has spiked as the Covid-19 pandemic has forced companies to work out how best to engage customers on their online platforms.
By collecting such vast amounts of data on user behavior, Amplitude then provides insights to its clients on which online features are engaging users. For example, home exercise bike firm Peloton used Amplitude’s software to learn that its customers were frequently using a “virtual high five” function that allowed riders to send encouragement to others by tapping on their user profile during spin classes.
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