Amplitude, a US-based digital enterprise tool developer backed by internet and gaming group Tencent, has confidentially filed to go public through a direct listing, Reuters reported yesterday.
Founded in 2012, Amplitude has built a software platform which gives an organisation a detailed overview of its digital activities and how they are experienced by customers, enabling it to optimise them.
The company has secured a total of $336m in funding and most recently raised money last month, pulling in $150m from a series F round led by venture capital firm Sequoia Capital at a $4bn pre-money valuation and backed by GIC, Battery Ventures and IVP.
SV Angel, Quest Venture Partners, Data Collective, Merus Capital and BoxGroup had joined angel investors including Charlie Cheever, Dave Morin and Adam Draper to supply $2m in seed funding for Amplitude in 2014.
Benchmark led Amplitude’s $9m series A round the following year, investing alongside Quest Venture Partners, Data Collective, Merus Capital and individuals including Cheever and Morin.
The company added $15m in series B funding from Battery Ventures, Benchmark, Data Collective, Merus Capital and Quest Venture Partners in 2016, and $30m in an IVP-led series C round also featuring Benchmark Capital and Battery Ventures the year after.
Amplitude was valued at $850m as of its $80m series D round in 2018, with Sequoia Capital, Lead Edge Capital, Benchmark, IVP and Battery Ventures providing the cash. That valuation was boosted to $1bn in a $50m series E in May 2020 that included all the series D backers as well as GIC and Sorenson Capital.
Although it has not been officially revealed as a participant in any of its rounds, Tencent is listed as an investor on Amplitude’s website, as are Silicon Badia and Y Combinator, the operator of an accelerator it joined in 2012.
