Heap, a US-based, corporate-backed analytics platform developer, has received $27m in series B capital from a consortium co-led by venture capital firms Menlo Ventures and New Enterprise Associates (NEA).
VC fund Initialized Capital and venture firm Pear VC also contributed to the round, which increased Heap’s total funding to $40m.
Founded in 2013, Heap has built an analytics platform that automatically collects information on user interaction in apps and on websites. The data can be used across a client’s departments, such as its marketing, data science and engineering teams, to gain relevant insights into consumers.
The company has attracted more than 6,000 enterprise clients to date across a variety of industries including e-commerce, fintech, retail, media and software-as-a-service. The series B funding will support a recruitment drive for staff ranging from software engineers to account executives.
NEA previously led Heap’s $11m series A round in August 2016, with participation from Menlo, SV Angel, Initialized and Pear.
Cloud computing firm Salesforce and talent agency William Morris Endeavor contributed to the company’s $2m seed round in 2013 alongside e-commerce company Netprice, SV Angel, accelerator Y Combinator, Redpoint, RTA Capital and assorted angel investors.
Matin Movassate, co-founder and chief executive of Heap, said: “Existing analytics tools require too much tedious effort. Using them looks more like manual work, not data science.
“If we can automate away the annoying parts of analytics, then we can make data useful for many, many more people. This has big second-order effects on how businesses get run.”