Analytics Startup Raises $55 Million in Series C Funding

Heap, an analytics firm, has raised $55 million in total of $95.2 million in series C funding with a desire to expand its platform, products, engineering, and go-to-market teams globally.

In an announcement of fund raising, it has added that, Ravi Viswanathan, the Founder and Managing Patner of NewView Capital, will join the board of directors of Heap. NewView was previously leading the Series C with the participation from Triangle Peak Partners, Maverick Ventures, Private Credit Investors and Sharespost, new DTCP, and existing investors (Initialized Capital, NEA, Menlo Ventures, and Pear VC).

Heap has released a new list of over 6,000 customers that includes Harry’s, Twilio, Microsoft, WeWork, and AppNexus.

The former Product Manager of Facebook and current Co-founder and CEO of Heap, Matin Movassate says, since he co-founded heap, he wants to be a leader of analytics industry and now he has got the sufficient balance in order to fund that challenge. He always mentions the circuitous process which is required to collect and analyse user data.

Currently, he explained the Heap’s automatic data collecting process on user’s activity which can be  available in a self-serve way. He also mentioned that there is no requirement of any additional code to answer new queries.

Ravi Viswanathan states, “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. 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.”

Matin said that, “We’re laser-focused on helping Product Managers get deeper insights on their users. 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.”