Maze has successfully raised $57.5 million over four funding rounds, positioning itself as a key player in the product research platform market. The platform offers a suite of tools designed to help product teams make informed decisions through continuous research and automated analytics.
Keep reading to explore the intricacies of Maze's fundraising journey and the investors backing this innovative platform.
What Is Maze?
Founded by Jonathan Widawski and Thomas Mary, Maze is a product research platform that empowers product teams to make better decisions through continuous research and automated analytics. The company operates remotely and supports over 60,000 brands.
Maze integrates with leading design platforms like Figma, Adobe XD, InVision, Marvel, and Sketch, providing tools for prototype testing, usability sessions, and data analysis. The platform is designed to match the speed of product development, offering quick and actionable user insights.
With a team of 51-200 employees, Maze has successfully raised $57.5 million over four funding rounds. The company is committed to fostering a flexible work environment with benefits like remote work and unlimited vacation policy.
How Much Funding Has Maze Raised?
- Pre-Seed Round
- Amount Raised: $470,000
- Date: May 2018
- Lead Investors: Partech, Seedcamp
- Motivation Behind the Round: To support the development and scaling of their user interface testing tool for app prototypes.
- Seed Round
- Amount Raised: $2,000,000
- Date: January 2020
- Lead Investors: Amplify Partners
- Motivation Behind the Round: To support the addition of new features like Figma support and to help companies assemble a panel of testers, enhancing the end-to-end user testing experience.
- Series A Round
- Amount Raised: $15,000,000
- Date: February 2021
- Lead Investors: Emergence Capital
- Motivation Behind the Round: The company plans to grow the size of its team.
- Series B Round
- Amount Raised: $40,000,000
- Date: June 2022
- Lead Investors: Felicis
- Motivation Behind the Round: To develop new product solutions, workflow integrations, and advanced features to democratize product research across larger organizations.
Total Amount Raised: $57,470,000
Current Valuation: $200 million (~estimated)
Key Investors
- Felicis
- Details: Felicis is a venture capital firm that led Maze's Series B funding round. They are known for their early-stage investments in transformative technology companies.
- Investment Focus Areas: Enterprise software, consumer technology, health tech
- Notable Investments: Shopify, Canva, Plaid
- Emergence Capital
- Details: Emergence Capital is a venture capital firm that focuses on early and growth-stage enterprise software companies. They led Maze's Series A funding round.
- Investment Focus Areas: Enterprise cloud, SaaS, business software
- Notable Investments: Salesforce, Zoom, Veeva Systems
- Amplify Partners
- Details: Amplify Partners is a venture capital firm specializing in early-stage technology companies. They have been involved in multiple funding rounds for Maze.
- Investment Focus Areas: Infrastructure software, data management, cybersecurity
- Notable Investments: Datadog, Fastly, Gremlin
- Partech
- Details: Partech is a global investment firm with offices in Paris, San Francisco, and Berlin. They invest in technology and digital companies at various stages of development.
- Investment Focus Areas: Technology, digital companies, innovation
- Notable Investments: Made.com, Sendinblue, Alan
- Seedcamp
- Details: Seedcamp is a European seed fund that invests in early-stage startups. They provide funding, mentorship, and a network to help startups grow.
- Investment Focus Areas: Early-stage startups, technology, fintech
- Notable Investments: TransferWise (now Wise), Revolut, UiPath
What's Next for Maze?
Maze is poised to capitalize on the growing demand for remote and unmoderated research tools, a trend accelerated by the pandemic. With features like Reach and Clips, Maze can attract a broader user base, including entire product teams, not just specialized researchers. Serving over 60,000 brands, the platform has a significant market to tap into, especially as companies increasingly prioritize user experience and data-driven decisions.
Future fundraising opportunities are likely as Maze continues to innovate and expand its offerings. The recent $40 million Series B round indicates strong investor confidence, and further rounds could focus on developing new product solutions and expanding use cases. However, Maze will need to navigate challenges such as high competition from other user research tools and maintaining the quality of user feedback as it scales. The company's ability to integrate seamlessly with popular design tools and continuously innovate will be crucial for its sustained growth.
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