Experimentation platform company Eppo announced that it has raised $28 million in a Series B investment round. The round was led by Innovation Endeavors, with Icon VC participating as a participating investor. It also received additional support from existing investors Menlo Ventures and Amplify Partners.
Eppo is a next-gen A/B experimentation platform created to build the diverse experiment cultures seen at companies such as Airbnb, Netflix, and Amazon. Created by alums of Airbnb, LinkedIn, and Uber, Eppo democratizes experimentation across product, AI, and marketing teams, with an emphasis on executive-level impact reporting and forecasting.
Even though prior generations of the A/B testing space narrowly focused on single use cases in devops or marketing, Eppo enables every function within organizations to adopt experimentation by easily integrating with cloud services, marketing technology tools, AI products, and data warehouses. This is why companies like Twitch, DraftKings, and Coinbase utilize Eppo for their experimentation strategies along with other generative AI tools.
This funding will be used to further expand on Eppo’s product and support for different marketing and AI experiments, including a new Channel Incrementality test suite that targets the biggest risk of all in efficient growth: marketing spend.
KEY QUOTES:
“Modern companies are navigating an era of efficient growth, with public markets simultaneously demanding high revenue scale and high growth. Experimentation has become the canonical tool of efficient growth, de-risking large investments, ensuring that bad ideas fail fast, and giving leaders high conviction on which initiatives will successfully grow the business. Eppo lets companies replace decision by committee with decision by customers, creating an arena for a meritocracy of ideas.”
- Chetan Sharma, CEO of Eppo
“Eppo is instrumental in transforming our company’s approach to experimentation. The platform has helped us to foster a culture of testing and learning. With Eppo, we’ve been able to significantly scale the number of experiments we run concurrently, which allows us to make data-driven decisions faster.”
- Alexis Weill, Perplexity’s Head of Data
“Experimentation is quickly becoming an essential piece of the workflow of all functions within modern technology companies, including product, growth, machine learning, marketing, and finance. Eppo is the only modern experimentation platform built from first principles to power decision-making for the entire business, stemming largely from the team’s background in developing some of the most advanced experimentation systems in the world. We couldn’t be more excited to partner with a team developing such a beloved and category-leading product.”
- Davis Treybig, partner at Innovation Endeavors
