Mixpanel builds product analytics tools for tracking product usage and user behavior. After promoting Amir Movafaghi to CEO in 2018, the company narrowed its focus, shutting adjacent messaging and A/B testing products to concentrate on core product analytics. The refocus improved customer satisfaction and retention — NPS rose from 15 in 2018 to 85 this year — and revenue has improved alongside those metrics. When Movafaghi took over in 2018 the company had roughly $100 million in revenue and was near a $1 billion valuation; business performance has continued to accelerate since. Mixpanel plans to use its new capital to invest in partnerships and further product development for its enterprise customers to grow market share. Founded in 2009 by Suhail Doshi and Tim Trefren, the company has raised $277 million to date following the latest round. Mixpanel offers an analytics platform focused on mobile (and web) that helps customers answer detailed questions about user behavior. The company was incubated by Y Combinator and launched in 2009. Mixpanel processes roughly 34 billion actions per month and its "People" product accounts for about 20% of revenue. Mixpanel has been profitable since 2012 and, prior to the new round, reported having more than $20 million in the bank. The company recently passed the 100-employee mark. Leadership says it will use new funding to experiment aggressively on features, invest in predictive capabilities that combine data science with AI, and make data more usable for non-data scientists while addressing retention through larger customer-success efforts and more annual subscriptions. Mixpanel provides advanced mobile and web analytics that track user actions across applications. The company reports rapid usage growth—tracking about 4 billion actions per month in February and more than 7 billion just weeks later. Mixpanel counts high-profile smartphone apps among its customers, including Path, Viddy and Socialcam, and the team says most hit mobile apps (aside from Instagram) use its service. The product is positioned as an affordable, innovative alternative to legacy analytics vendors such as Omniture. Mixpanel plans to make analytics data more actionable for customers (for example, helping gaming companies act on identified "whales") and to spend aggressively on recruiting to compete for talent with large tech firms. Mixpanel offers an easy-to-integrate analytics solution focused on on-page actions (how often users activate features, progress through flows, etc.) and reports data in real time. Its customers include Quora, Bebo, and Slide, and the service is used on roughly 2,000 sites, many of them mobile. Mixpanel provides a free plan that tracks 25,000 data points per month and paid plans starting at $150 per month for 500,000 events. Cofounder Suhail Doshi says the company is already generating a significant amount of revenue, with double-digit revenue growth each month. The team previously participated in Y Combinator and raised an earlier $500,000 from Michael Birch and Max Levchin. Mixpanel plans to expand its engineering team and hinted at major product announcements in the coming six weeks. Mixpanel is a Y Combinator‑backed startup that provides analytics tools enabling web services to get a deeper view of how users interact with their applications. Its core product tracks on-page actions and recently added a Tests feature that lets developers run A/B groups while tracking many user actions rather than a single metric. The company emphasizes more powerful, granular analytics than other popular solutions. Mixpanel has two founders, Tim Trefren and Suhail Doshi, and says it is ramping up hiring. The service has already been adopted by notable operators—Max Levchin is using Mixpanel to track some of Slide’s stats. Financially, the company has secured early seed backing from prominent angel investors.

Total raised

$277M

Funding rounds

5

Latest round

Series C

Latest activity

Nov 2021