Amplitude, a US-based data analytics provider backed by internet company Tencent, secured $80m today in a series D round led by venture capital firm Sequoia Capital.
VC firms Lead Edge, Benchmark, Institutional Venture Partners (IVP) and Battery Ventures also took part in the round, which valued Amplitude at $850m according to Forbes. Sequoia Capital partner Pat Grady has joined Amplitude’s board of directors.
Founded in 2012, Amplitude has built a data analytics software platform that tracks more than 4.5 trillion customer actions online each year to help companies better understand user behaviour and engage with consumers more efficiently.
Amplitude said the product is used by more than 26,000 clients including software producer Microsoft and social media operator Twitter. It will use the series D capital to drive international expansion efforts and develop additional features.
The company has now raised a total of $139m in funding. Tencent joined 26 other investors including Quest Venture Partners, Data Collective, Box Group and SV Angel in its $2m seed round in 2014.
Battery Ventures led the company’s $15m series B round in 2016, which included Benchmark, Data Collective, Merus Capital and Quest, after Benchmark had led a $9m series A in 2015 with participation from Quest, Data Collective, Mercus and several private investors.
Amplitude subsequently raised $30m series C round led by IVP in August 2017 that included Benchmark and Battery Ventures.
