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Analytics Leader Mixpanel Set to Reach 7 Billion Actions Tracked in May, Closes Series A Round Led by Andreessen HorowitzAndreessen Horowitz's Peter Levine Joins Board of Directors (May 10, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 05/10/12 -- Mixpanel, the most advanced analytics platform for mobile and web, announced today that it is on pace to reach 7 billion actions tracked in the month of May, making it one of the fastest growing analytics companies in the world. Since February 2012, Mixpanel has nearly doubled the amount of actions tracked per month and increased revenue by more than 50%.
To accelerate its growth and leadership in the mobile and web analytics market, the company also announced today a $10 million Series A round of financing led by Andreessen Horowitz, with additional investors including PayPal Co-founder Max Levchin, Salesforce.com Chairman and CEO Marc Benioff and Yammer Chairman and CEO David O. Sacks. Additionally, Andreessen Horowitz's General Partner Peter Levine has joined Mixpanel's Board of Directors.
Mixpanel's tremendous activity growth is driven by numerous enterprise client wins and increased usage among existing customers. Mixpanel is also experiencing strong demand among mobile app developers and publishers that are seeking to better understand and act on the user interactions that matter most for their business.
In recent months, many of the most exciting and innovative companies in the mobile app space have selected Mixpanel to measure recurring visitor traffic, engagement in desired behaviors and conversion rates through funnel analysis. New customers Viddy, Path and SocialCam turned to Mixpanel because incumbent analytics solutions that primarily track page views have become outdated and don't deliver the kind of actionable insights that drive value for app developers and publishers. In recent months, both Viddy and SocialCam have been the top free iPhone apps in the App Store.
"There is a massive shift afoot in the analytics space because companies have moved away from page views as an important metric for their business. Today, what matters in an application is user experience and the actions they take, and that's what we measure," said Suhail Doshi, CEO of Mixpanel. "We're providing the kind of data and insights that companies can bet their future on and the power of this solution is evident in both our growth and the caliber of companies that have joined us as customers. Adding Andreessen Horowitz as investors significantly strengthens our business and will provide a competitive advantage as we grow to the next level."
"We've watched Suhail and his team at Mixpanel transform the company from an innovative startup to one that delivers the most advanced solution we've seen for mobile and web analytics," said Peter Levine, general partner at Andreessen Horowitz. "Mixpanel has become the go-to analytics platform for some of the most exciting companies in the world because it gives them the power and flexibility to make data-driven decisions that can radically improve product development and end user experience."
Read more about Mixpanel in Peter's blog post: http://peter.a16z.com/2012/05/10/data-analytics-for-the-mobile-web/.
Mixpanel is the most advanced analytics platform for mobile and web, helping the world's most innovative companies gain unmatched insights into user activity and leverage this data to build better products. The privately held company is based in San Francisco with investors including Andreessen Horowitz, Sequoia Capital, PayPal Co-founder Max Levchin, Salesforce.com Chairman and CEO Marc Benioff and Yammer Chairman and CEO David O. Sacks and Michael Birch.
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that provides seed, venture and growth stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its general partners are Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan and Peter Levine, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 90 investments are Airbnb, Actifio, Box, Fab, Facebook, Foursquare, Groupon, Jawbone, Lytro, Pinterest, Silver Tail Systems, Twitter and Zynga. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com
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