This round brings Amplitude a total funding to $336 million and increases its pre-money valuation to $4 billion.
Amplitude has bagged $150 million in Series F funding round, led by Sequoia Capital with participation from other existing investors GIC, Battery Ventures and IVP, the digital optimisation provider announced on 10 June.
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, the company said in a statement.
“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.