- Heap recently announced it raised $55 million in Series C funding led by NewView Capital in order to grow internationally and hire additional talent
Heap recently announced it raised $55 million in Series C funding led by NewView Capital. Including this round, Heap has raised a total of $95.2 million. Ravi Viswanathan — NewView founder and managing partner — is joining Heap’s board in conjunction with this funding round.
New investors DTCP, Maverick Ventures, Triangle Peak Partners, Alliance Bernstein Private Credit Investors, and Sharespost also joined the round along with existing investors NEA, Menlo Ventures, Initialized Capital, and Pear VC. With this round of funding, the company will drive international growth and expand its product, engineering, and go-to-market teams.
“We’re laser-focused on helping Product Managers get deeper insights on their users,” said Heap CEO and co-founder Matin Movassate. “This rapid growth is a strong signal that product managers and engineers are tired of wasting their time with the manual parts of analytics instrumentation. We’re excited to build more in 2019 to eliminate even more analytics friction for our customers.”
What does Heap do? Heap automatically collects and organizes customer behavioral data thus allowing businesses to analyze customer experiences and create more valuable products without the typical costs associated with analytics implementations.
Heap’s data capture technology frees companies from the tradeoff between data-driven decision-making and business agility. This is essential as flexibility should be one of the most important aspects of a company’s analytics strategy.
Plus Heap empowers product teams to focus on what matters by building the best products without having to wrestle with their analytics platform. And Heap automatically collects and organizes customer behavioral data, allowing product managers to improve their products with maximum agility. There are more than 6,000 businesses that use Heap to drive business impact by delivering better experiences and better products such as AppNexus, Twilio, Harry’s, and WeWork.
“Heap offers an innovative approach to automating a company’s analytics, enabling a variety of teams within an organization to obtain the data they need to make educated and, ultimately, smarter decisions,” added Viswanathan. “We are excited to team up with Heap, as they continue to develop their cutting edge software, expand their analytics automation offerings and help serve their growing numbers of customers.”
Along with revenue growth, the company has also maintained a unique company culture. And it was received the #1 Best Place to Work in 2019 among small and medium-sized businesses in the U.S. by Glassdoor.
“Mobile app and website developers must continuously evolve the product design and the user experience to attract and retain new and existing users. When it comes to understanding customer behavior, Heap delivers a comprehensive analytics platform that features advanced automatic user data gathering. This saves planning time and eliminates guesswork for product decision-makers,” noted Jack J. Young — DTCP Partner and Head of Venture Capital. “The growing list of Heap customers and their glowing feedback are really impressive, and we are happy to be part of the team supporting global growth.”
