Segment Raises $27 Million

What does Segment do?

Segment, is a startup which allows businesses to use a single API for event tracking for sending data to hundreds of databases and different tools, which include MailChimp, Google Analytics, Ominture, Quantcast, KISS metrics, Flurry etc. The company is a single stop for customer data. Users can collect their customer data in one place and send it to any place. Customers can collect this data and send it their tools for markting, analytics, automation and raw data access with SQL. Users can implement all of their event tracking with the company’s single API instead of wrangling a new API for every tool or database.

How much Segment was funded?

Segment raised $27M in Series B on October 9, 2015 from e.ventures, Kleiner Perkins Caufield & Byers, Jon Winkelried, Thrive Capital and Accel.

Previous funding

• $600k in Seed round on January 15, 2013 from New Enterprise Associates, ventures and General Catalyst Partners
• $2M on October 7, 2014
• $15M in Series A on October 8, 2014 from Accel, ventures and Kleiner Perkins Caufield & Byers

What is next for Segment?

Will Gaybrick, CFO of Stripe will join the company’s board of directors. The company has plans to double its headcount to 100. The company’s user base doubled in the past year, and now it has 4,000 active customers. Its revenue has tripled in the past 8 months. The company now processes as much data in a day as it did in a month in the previous year.

The company currently offers 160 integrations across twenty categories, and now the company plans to use the funding raised for expanding to more popular data storage platform and obtain more customer data beyond the in app behavior it is tracking today.

More about Segment

Segment was founded in 2012 by Peter Reinhardt, Calvin French-Owen, Ilya Volodarsky and Ian Storm Taylor. It has its headquarters in San Francisco, CA.