Statsig Announces $ 10.4 Million Series A Financing Led by Sequoia | Business and finance

SEATTLE – (BUSINESS WIRE) – August 5, 2021–

Statsig today announced the general availability of the Statsig platform which allows product teams to quickly assess the impact of new features and deliver products their customers love. Statsig also announced a $ 10.4 million Series A financing led by Sequoia Capital with participation from Madrona Venture Group and several individual investors, including Aparna Chennapragada (CPO at Robinhood), Calvin French-Owen (co-founder de Segment), Dylan Field (CEO and Co-Founder at Figma), Fidji Simo (ex-Facebook and CEO at Instacart), Gokul Rajaram (Product Leader at DoorDash), Hadi Partovi (CEO and Founder at Code.org), Jay Parikh ( ex-VP at Facebook and co-CEO at Lacework) and Sriram Krishnan (ex-Twitter and general partner at a16z).

Founded in February 2021, Statsig brings the power of Facebook’s growth engine and data-driven product decisions to everyone who creates the next generation of digital products. “At Facebook, we’ve empowered every engineer to make better decisions faster with fully automated A / B testing and tools like Gatekeeper, Quick Experiments and Deltoid,” said Vijaye Raji, Founder and CEO. “Our goal at Statsig is to put the same capabilities in the hands of every product team so they can make faster, data-driven decisions and create great products. “

The Statsig platform enables product developers to run fast, high-quality product experiences and analyze how their users react to new features and functionality in the same way as product teams from Facebook, Amazon, Airbnb. and Uber are doing it today. Statsig’s experience analysis and decision-making tools, such as Pulse, Experiments +, and AutoTune, enable product teams to run hundreds of experiments each week and assess their product’s performance each day. With a complete view of the impact of each improvement on various business metrics, product teams can always create and deliver the right products to their customers. Statsig already serves millions of end users every month for clients like Clutter, Common Room, and Take App. There is no subscription fee or initial commitment to use Statsig. With a fully transparent pricing model, customers only pay for data analyzed by Statsig.

“Statsig is going to be a transformational product for most tech companies. It enables product teams to operate quickly and decisively in a decentralized fashion by understanding the impact of the changes they bring about, ”said Mike Vernal, Partner at Sequoia. “We are excited to partner with Vijaye and her team as they transform the way businesses create products and enable product-driven growth. “

“We have long been looking for a tool that can allow our engineers to run A / B tests more independently without having a big data infrastructure and a tooling team,” said Xiaojie Zhang, senior manager of engineering at Clutter. “Statsig arrived at the right time, and we are now able to easily set up experiments and most of the analysis results arrive automatically, saving us tons of bandwidth for our data team to focus on. on more important initiatives. “

“Common Room creates a new way for corporate clients to deepen their engagement with their communities. Statsig’s product experimentation platform is at the heart of our ability to deliver the right product to our customers, ”said Viraj Mody, Co-Founder and CTO of Common Room. “We loved that the Statsig platform captures our product-driven culture and allows us to iterate quickly. Their round-the-clock responsiveness was the icing on the cake.

“Data is the incredible bridge that brings teams together to respond quickly to customers and answer key business questions. Unfortunately, organizations still spend a lot of time discussing data to make sense of it. Despite the cloud’s endless resources, dominant analytics tools continue to hamper the use of data for the day-to-day product decisions that teams make every day, ”said S. Somasegar, Managing Director of Madrona Venture Group. “With its simple and modern platform for product experimentation and decision-making, Statsig is already elevating its customers on a technical and cultural trajectory that will soon become the norm. “

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PUB: 08/05/21 12: 00 / DISC: 08/05/21 12:02

Copyright Business Wire 2021.

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