Statsig, a platform for data-driven product development, announced it has raised $100 million in Series C funding at a $1.1 billion valuation. The funding round was led by ICONIQ Growth, with participation from existing investors Sequoia and Madrona.
As product development becomes increasingly complex, especially with the spread of AI-based features, teams struggle with fragmented data and slow decision-making processes. And Statsig addresses these challenges by offering an integrated suite of tools that enable cross-functional teams to control feature releases, measure impact through experimentation, unify product data, analyze insights in real-time, monitor application performance, and capture qualitative feedback.
Statsig has a wide range of offerings like feature flagging, product analytics, and A/B testing tools. And their platform vision aims to integrate and simplify these workflows by connecting product data to traditional developer tools.
With this funding, Statsig plans to expand its platform capabilities, grow its team, and empower more companies of all sizes to unlock the full potential of data-driven product development.
KEY QUOTES:
“Statsig is committed to solving one of the most pressing challenges in modern product development; their platform transforms how teams build and iterate, replacing guesswork with data-driven decision-making. We are seeing a ton of demand for a single source of truth across experimentation, feature flagging, analytics and more. We believe Statsig’s growing and comprehensive platform can serve this for enterprises end-to-end.”
Murali Joshi of ICONIQ Growth, who led this round
“Product development used to be an art, with visionary engineers and product managers relying on intuition to guide changes. That simply doesn’t cut it today. We’re doubling down on our mission to help every product team embrace both the art and science of building great products by providing a complete platform for data-driven decision-making.”
Vijaye Raji, Founder & CEO of Statsig
