Total amount raised
$218.1 Millions
Latest funding date
12/1/2021
Location
Heap has successfully raised significant funding through multiple rounds, with the latest being a Series D. The platform offers comprehensive digital insights to help businesses understand their customers' journeys.
Keep reading to explore the intricacies of Heap's fundraising journey and the investors backing this innovative platform.
What Is Heap?
Heap, founded in 2013 by Matin Movassate and Ravi Parikh, is headquartered in San Francisco, California. The company specializes in providing a digital insights platform that automates the collection, organization, and analysis of customer data.
Heap's platform is designed to help businesses understand customer journeys, improve conversion rates, and enhance user experiences. It serves a diverse range of industries, including ecommerce, SaaS, fintech, and retail.
With a team of 101-250 employees, Heap continues to innovate in the field of analytics, offering features like automatic event tracking, session replay, and heatmaps to over 10,000 companies worldwide.
How Much Funding Has Heap Raised?
- Seed Round
- Amount Raised: $120K
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core product and validate the market need.
- Seed Round
- Amount Raised: $2M
- Date: August 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $13M
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series A
- Amount Raised: $11M
- Date: August 2016
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the customer base and improve product features.
- Series B
- Amount Raised: $27M
- Date: May 2017
- Lead Investors: Menlo Ventures, New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in marketing and sales efforts.
- Series C
- Amount Raised: $55M
- Date: July 2019
- Lead Investors: NewView Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance product innovation.
- Series D
- Amount Raised: $110M
- Date: December 2021
- Lead Investors: Sixth Street
- Valuation at Round: $960M
- Motivation Behind the Round: To scale global operations and accelerate R&D of the digital analytics platform.
Total Amount Raised: $218.12M. Current Valuation: $960M.
Key Investors
- Sixth Street Growth
- Details: Sixth Street Growth is a global investment firm managing over $55 billion in assets. They focus on private investments in growth companies.
- Investment Focus Areas: Growth equity, technology, healthcare.
- Notable Investments: Airbnb, Spotify, Sprinklr.
- Goldman Sachs Asset Management (Growth Equity business)
- Details: Part of Goldman Sachs, this division focuses on growth equity investments in high-growth sectors. They have a strong presence in the technology and financial sectors.
- Investment Focus Areas: Technology, financial technology, consumer, healthcare.
- Notable Investments: Not publicly disclosed.
- NewView Capital
- Details: NewView Capital is a venture capital firm that invests in technology companies, particularly those in the growth stage. They aim to support companies through their scaling phases.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They have a long history of successful investments in the tech sector.
- Investment Focus Areas: Technology, early-stage, growth-stage.
- Notable Investments: Not publicly disclosed.
- Maverick Ventures
- Details: Maverick Ventures is a venture capital firm that invests in technology and healthcare companies. They focus on early to growth-stage investments.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Heap?
Heap's future looks promising with significant opportunities on the horizon. The company plans to scale its global operations and accelerate research and development of its digital analytics platform. With a valuation of $960 million and a recent $110 million Series D funding round, Heap is well-positioned to enhance customer experiences and drive business impact at scale.
As the demand for advanced digital analytics grows, Heap may pursue additional funding rounds to support its expansion and innovation efforts. However, the company will need to navigate challenges such as maintaining quality while scaling globally and staying ahead in a competitive market. Integrating new executive team members effectively will also be crucial for continued success.
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