Analytics company Heap raises $11M

Heap announced today that it has raised $11 million in Series A funding.

We’ve written about the company’s “capture everything” approach to analytics before — it aims to collect data about every tap, swipe and other action that a user takes on a website or app.

CEO Matin Movassate said this should allow anyone at a company to answer any question they might have about user behavior without having to go through an engineer. In fact, Movassate said Heap is “most successful when it’s adopted by basically everyone in the organization and becomes the foundation for analysis across teams.”

He recalled that when he was a product manager at Facebook, there were many analytics tools available, but “despite all of that apparatus, it was really difficult for me to use data effectively.”

“It was always bottlenecked,” he continued. “By the time I’d get the answer to my question, I needed to loop in three different stakeholders.”

Heap has now raised a total of $13 million. The new round was led by NEA, with participation from Menlo Ventures, SVAngel, Initialized Capital and Pear Ventures.
Heap’s customers include Zendesk, Twilio, Optimizely and CrunchBase. Movassate said revenue has grown 4.5x in the past year, making the company cash-flow positive.

“With the growth that we’ve been seeing, bringing on more customers requires us to invest a lot more in headcount,” he said.

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