Analytics Company KISSmetrics Raises $7 Million
Space Pencil (run under the name KISSmetrics) is a web analytics company that has raised $7 million. Entrepreneurs Hiten Shah and Neil Patel are the individuals behind KISSmetrics. True Ventures and Azure Capital invested in the company, according to the executives involved in the investment listed in an SEC filing. Prior to this round, KISSmetrics raised $4 million. The company raised a $2.85 million Series A round in 2009.
Patel and Shah previously founded a company called Crazyegg. Crazyegg uses eye tracking technology to create heat maps for websites. Crazyegg did not raise funding and is used by over 50,000 companies around the world.
KISSmetrics uses data analytics for customer acquisition and retention. Individuals are tracked across multiple platforms. KISSmetrics’ clients include eBay, Foursquare, and Adobe.