Amplitude raises $150 million amid surge in demand

Amplitude has raised $150 million through a sixth funding round led by Sequoia Capital with participation from other existing investors GIC, Battery Ventures and IVP. 

This Series F round brings Amplitude’s total funding to $336 million and increases its pre-money valuation to $4 billion, and comes on the heels of Amplitude’s launch of its Digital Optimization System. 

“Our latest funding round speaks directly to digital innovation as the new competitive frontier, and the central role Amplitude plays in the new digital economy,” said Spenser Skates, co-founder and CEO at Amplitude.

Skates said the winning companies in this era are leaning into digital-first as a business strategy, and are the disruptors and leaders in their respective industries.

“Companies that can’t connect the product to business outcomes will be left behind,” said Pat Grady, partner at Sequoia and Amplitude board member.

Amplitude closed fiscal year 2020 with record growth, including a 50% year-over-year revenue increase, 15 customers at or above $1 million, 400 new customers and more than 20% penetration of the Fortune 100.