Our $55 Million Series C

Our $55 Million Series C

We’re excited to announce our $55M Series C funding round, led by NewView Capital! Ravi Viswanathan, founder and managing partner of NewView, will be joining our board. The round includes new investors DTCP, Maverick, Alliance Bernstein, Triangle Peak, and Sharespost.

We’re also grateful that this round includes existing investors NEA, Menlo, Initialized, and Pear. Each of them has invested in every fundraise since our Series A (and in the case of Initialized and Pear, since our seed round!).

A retroactive look at our progress

At Heap, our mission is to power business decisions with truth. The rise of web and mobile products have given product teams newfound visibility into their ground truth data: customer behavior. Coupled with the exponential decrease in compute and storage costs, we believe it should be painless for product teams to guide their decisions with customer data.

Yet most product analytics tools still operate as if we’re stuck in the 90’s. We’re increasingly agile in how we ship software and iterate on our products, but our analytics processes are just as time-consuming and brittle as ever before.

If a new question pops up – for instance, you’d like to know whether a feature you shipped correlates with long-term retention – you’ll have to:

  1. Curse the analytics gods that you’re missing data you need to answer your question.
  2. Waste an engineer’s time getting them to write tracking code for you.
  3. Wait for the code to get written.
  4. Wait for that code to go live.
  5. Wait a few weeks for enough data to trickle in.
  6. Cross your fingers and hope that no instrumentation mistakes happened along the way. Otherwise, start again from step 1.

At the end of the day, your insights are limited by your dataset. That’s why we built Heap with a brand new approach to analytics: automatically capture all user actions. This saves our customers from the pain of manually defining events, writing brittle tracking code, and waiting to collect data. They can gain insights retroactively, and in minutes rather than weeks.

Our approach is no easy technical feat. But we’re willing to shoulder any technical burden for the sake of helping our customers make smarter decisions, faster. (If you’re an engineer eager to solve problems no one’s ever solved before in distributed systems, analytics interfaces, and/or data integrations, shoot us a note – we’re hiring! We promise to spare you from BS interviews.)

Since reaching #1 on Hacker News in 2013, we’re proud to:

  • Power decisions for nearly 10,000 active customers
  • Serve a large swath of businesses, from Amazon and E-Trade in the Fortune 500, to fast-growing companies like Twilio and WeWork, all the way down to budding startups
  • Achieve triple-digit revenue growth in each year of our existence
  • Rank #1 on Glassdoor’s 2019 Best Places to Work
  • Scale our event volume 10x in the past 18 months
  • Grow our team to 150 Heaple strong
  • Open offices in New York City and Salt Lake City
  • Build a distributed engineering team across the US, Australia, Canada, Lithuania, Bulgaria, and India

What’s in store for Heap’s future

As excited as we are about the past, we’re even more excited about what the future holds. We exist to help our customers win, and we won’t rest until product analytics is as simple as two steps: 1. connect your data sources, 2. get actionable insights.

To that end, we can’t wait to use this fundraising to deliver even more value to our customers. Some of the upcoming themes on our roadmap include:

  • More comprehensive customer view. We’re not done with autocapture. Not even close. Whether it’s from Android, a React Native app, a REST endpoint, or a 3rd-party SaaS tool, we want to make it as easy as possible to collect a complete, trustworthy set of your customer behaviors, all with minimal tracking code.
  • Proactive insights. If the first chapter of Heap was automating collecting data, then the next chapter of Heap is automating getting value from the data. Because we’ve auto-captured a full dataset, we can uniquely surface the “unknown unknown” trends and anomalies to our customers.
  • Make decisions, not just graphs. We plan to ship opinionated workflows within Heap to help guide PMs through the end-to-end process of asking questions, gaining customer insights, and making decisions. And thanks to the power of autocapture, they can do it all without getting bottlenecked on engineers!
  • Easily take action. Whether it’s sending an email to resurrect churned users, or targeting your power users with an in-product survey, we’re excited to partner with some great companies to make acting on the insights you uncover within Heap as easy as a couple clicks.

Embodying the culture we sell

Last, but certainly not least: at Heap, we like to think we’re not just selling our customers an analytics product. We’re selling them a culture. One that grounds decisions in truth, that ensures the best ideas win (not the biggest egos), that makes customers the center of every conversation, and that iterates on product-market fit faster than the competition.

In order to deliver on that promise, we must embody that culture ourselves at Heap. We’re proud to have been recognized by Glassdoor as the #1 Best Place to Work in 2019 for small/medium businesses. Nevertheless, we recognize that our culture will need to evolve as our needs evolve, and that we’ll need to work hard to preserve the good parts. We need your help to do so!

If these values resonate with you, please check out our job listings. We’re hiring for just about every role, and we’d love to hear from you.