Amplitude, the Digital Optimization System, today announced a $150 million Series F funding round, led by Sequoia Capital with participation from other existing investors GIC, Battery Ventures and IVP. This round brings Amplitude’s total funding to $336 million and increases its pre-money valuation to $4 billion. This round comes on the heels of Amplitude’s launch of the Digital Optimization System which is rapidly emerging as the industry standard for connecting digital product innovation to business outcomes.
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Every business is being reimagined through digital products. According to a 2021 IDC report, 500 million new digital applications and services will be developed and deployed by 2023, the same number developed in two years as the previous 40. This tectonic shift from the web to the product as the digital growth driver requires a modern approach to help ensure products are optimized for business outcomes. Digital Optimization is the next major evolution of digital transformation to help every business connect product innovation to business outcomes — and will separate the winners from the rest of the pack.
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“Our latest funding round speaks directly to digital innovation as the new competitive frontier, and the central role Amplitude plays in the new digital economy. The winning companies in this era have three things in common: they are leaning into digital-first as a business strategy, they are the disruptors and leaders in their respective industries, and they rely on Amplitude to help them create value and differentiation,” said Spenser Skates, co-founder and CEO at Amplitude. “We thank our investors, customers and partners for their continued confidence and support as we continue to lead and shape the market.”
“In a digital world, the product is the business. Companies that can’t connect the product to business outcomes will be left behind,” said Pat Grady, partner at Sequoia and Amplitude board member. “Amplitude is the gold standard for optimizing digital businesses, and we’re excited to support them in their mission to help every company build better digital products.”
Amplitude closed fiscal year 2020 with record growth, including a 50% year-over-year revenue increase, 15 customers at or above $1 million, 400 new customers and more than 20% penetration of the Fortune 100.
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