The Venture Codex

Participated · Series C · Oct 2015

Optimizely provides A/B testing and personalization tools for web and mobile apps. Its core product suite enables digital experience optimization and personalization across channels, serving customers such as Gap, Visa, IBM, StubHub, Metromile, Lending Club and Sonos. The company says it handles more than 6 billion events a day and that about a quarter of the Fortune 100 use its services; customers have tripled their investments in digital experience optimization over the past two years. Optimizely announced a $50M Series D and a $55M line of credit, and the company has now raised more than $200M in total excluding the line of credit. Management plans to use the new funds to invest in products, expand geographically, and grow its team of digital optimization experts. The company aims to widen the gap with competitors by accelerating product development and market expansion. Optimizely builds tools that let customers run A/B tests to optimize website and mobile-app experiences. The company has expanded beyond web testing with the launch of Optimizely for iOS and the recent release of Optimizely Personalization. Optimizely emphasizes building "best in class" products that integrate with partners and are usable by marketing teams rather than being a black box. CEO and co-founder Dan Siroker says the company aims to "optimize every experience" and to broaden usage across teams within businesses. Customers include CNN, Microsoft and Virgin America, and Optimizely is cited as a top service for optimizing websites (Alexa) and mobile apps (MixRank). The company reported that revenue has more than doubled since its Series B in May 2014. Optimizely provides an A/B testing and experimentation platform for website owners to test design and content variations and deliver personalized experiences. The company was founded in 2010 by Dan Siroker and Pete Koomen and was incubated at Y Combinator. Optimizely says it has more than 7,000 customers who have created over half a million experiments and has optimized seven billion web experiences. At its first customer conference, Opticon, the company launched a version of its platform that supports iOS apps. Founder Dan Siroker has framed a longer-term vision of building a platform to enable personalized experiences for any website. Financially, Optimizely has been raising venture capital and has now raised a total of $88 million following its latest round. Optimizely provides tools to A/B test website variations and already supports segmented visitor experiences. The company aims to expand beyond testing into a personalization platform that shows the right content to the right visitor at the right time. It counts high-profile customers including the Obama and Romney 2012 presidential campaigns. Optimizely reports an annualized revenue run rate in the “double-digit millions” and says revenue is growing by 400 percent per year. The team has 68 employees and is moving into a new 56,000 square foot San Francisco office with room for more than 450. It opened its first European office in Amsterdam and plans to launch in nine languages representing 36 countries next quarter. The company plans to invest in international expansion, sales and marketing, infrastructure, and customer support. Optimizely provides a simple A/B testing service that lets customers configure experiments via a JavaScript snippet and analyze results through its dashboard. The service launched in July and has added features such as integration with Google Analytics. Optimizely says it is tracking around 250 million events per month, though it is not disclosing its number of signed-up users. It has landed prominent customers, including the Democratic National Committee. The company also helped the Clinton Bush Haiti Fund optimize its site, which reportedly drove an additional $1 million in contributions. Optimizely’s product emphasizes ease of use and rapid experimentation for web optimization.

Participated · Series D · Oct 2014

SnapLogic offers a platform that unifies integration and automation for enterprises, enabling customers to connect apps, data, and APIs from on‑premises systems to multiple clouds. The company emphasizes AI-driven capabilities and plans to expand the AI that underpins its platform and invest in business development. SnapLogic serves thousands of organizations, including customers such as Adobe, Aramark, Siemens and Workday, and processes roughly 2.7 trillion customer documents monthly across about 3.1 million pipelines. Its combined integration and automation offering is positioned as a single procurement alternative to point‑to‑point tools and competes with firms like Workato, Tray.io and MuleSoft. The company is San Mateo–based and has seen a notable valuation increase since 2019, reflecting demand for enterprise automation and hybrid/multi‑cloud data strategies. SnapLogic has built an integration platform that lets enterprises bring together legacy and cloud apps to monitor them and enable workflows and data interoperability. The company targets areas including application integration, data integration, API management, B2B integration and data engineering and sees a $30 billion market opportunity. SnapLogic names customers such as Adobe, Verizon, AstraZeneca, Bristol-Myers Squibb, Emirates, Schneider Electric, Siemens, Sony and Wendy's, though it is not disclosing its current customer base size. The company says it will use the new growth financing to expand its business globally. CEO Gaurav Dhillon and investors describe SnapLogic’s approach as measured fundraising and continued focus on product leadership. To date SnapLogic has raised $208 million in total. SnapLogic offers a self-service platform that lets analysts, data scientists and business users integrate data warehouses, big data streams, cloud and on-premise applications and IoT deployments. Led by founder and CEO Gaurav Dhillon and based in San Mateo, CA, the company targets enterprise integration needs across apps, data and devices. SnapLogic serves more than 700 customers, including Clorox, Del Monte, Denny’s, Groupon, Magellan Health, McKinsey, Teva Pharmaceuticals and Wendy’s. Financially, the company has raised $136.3M to date, including a $40M Series F announced in this round. The company plans to use the new funds to expand sales, marketing and customer service. SnapLogic offers a data-integration platform that acts as a translator for data and data streams moving to the cloud or into enterprise data lakes. The company provides more than 400 “snaps” (connectors/adaptors) for systems such as Workday, Concur, SAP, Twitter and Tableau. Its tools aim to hide integration complexity from end users and reduce reliance on IT for connecting consumer apps to legacy systems. SnapLogic positions the same technology to handle both high-velocity cloud connections and high-volume data-lake ingestion. The company reports processing more than 55 billion documents per month and counts customers including Adobe, Box, AstraZeneca, CapitalOne and Verizon. In the current financing it raised $37.5 million, bringing total funding to $96.3 million; it has also announced partnerships with Microsoft (including support for the Cortana Analytics Suite), Okta and Workday. SnapLogic offers the SnapLogic Elastic Integration Platform to connect enterprise data, applications and APIs at cloud speed, supporting cloud and on-premises deployments. The platform emphasizes big data wrangling and streaming capabilities and includes SnapReduce enhancements for Hadoop 2.0. SnapLogic’s platform has been certified by Hortonworks and Cloudera and the company plans to add native support for Apache Spark in upcoming releases. The company said it will use recent funding to grow field sales, marketing and operations while continuing to build platform capabilities. Prominent Global 2000 customers include Adobe, Acxiom, Blackberry, CapitalOne, Cisco, iRobot, Netflix, News Corp., Rocket Fuel, Target Stores, Yelp and Xactly. SnapLogic is funded by leading venture investors and was co-founded by Gaurav Dhillon.