Company reveals unprecedented momentum, with revenue growth of 50% YoY, 15 $1 million dollar customers and accelerated new enterprise customer adoption
SAN FRANCISCO, CA, January 27, 2021 – Amplitude, the operating system for digital business, today announced business results from 2020 that demonstrate record growth in revenues and customer adoption. The company grew revenues by 50%, signed on 400 new customers, doubled new enterprise customers in Q3, and increased its penetration of the Fortune 100 to more than 20 percent. Additional recognition and milestones reflecting Amplitude’s hypergrowth in the last twelve months include:
- Celebrated the best quarter in company history for new business;
- Inclusion on The Deloitte Fast 500 at spot 208;
- Inclusion in top 25 of Y Combinator’s list of top companies by valuation;
- Designated as a Forbes Cloud 100 company;
- The completion of the company’s first acquisition: predictive analytics firm, ClearBrain;
- Named the #1 rated Product Analytics Vendor, and rated a leader in Digital Analytics and Mobile App Analytics by the top software review site G2;
- 28 trillion digital events tracked and 40,000+ digital products powered in 180+ countries around the world;
- Record attendance (14K global viewers) for Amplify: The Digital Transformation Conference of 2020;
- The launch of Amplitude’s inaugural Pioneer Awards, recognizing companies like Atlassian, HBOMax and IBM for their excellence in using digital product intelligence to drive business growth;
There is a historic shift to digital-first occurring across all industries, yet businesses don’t have a system to manage digital growth. Amplitude’s vision is to become the operating system for every digital business, arming growth leaders and the C-suite with the insights to answer the strategic question, “where do we place our digital bets to maximize revenue?” Digital businesses across all vertical sectors are placing their bets on Amplitude, including two of the top five auto manufacturers, three of the top five telecommunications companies, two of the top five retailers, three of the top five entertainment/media companies, four of the leading financial services companies and four of the most successful digital-first IPOs of 2020.
“Amplitude has an opportunity to build a billion-dollar business amidst the next chapter of massive transformation: the shift to digital revenue,” said Spenser Skates, co-Founder and CEO of Amplitude. “In this digital era, it’s critical that every digital business has an operating system to understand what product bets drive revenue. Amplitude was built from the ground up to deliver the digital revenue insights that legacy marketing analytics and business intelligence tools struggle to unlock. Our performance in 2020 validates the massive opportunity. Amplitude has the right product and the right team at the right time, as we look to bring new innovations to market and aggressively scale the business through an IPO and beyond.”
In 2020 Amplitude bolstered its executive leadership team with the addition of seasoned go-to-market and market creation leader Jennifer Johnson as Chief Marketing and Strategy Officer, formerly Chief Marketing Officer at Tenable (Nasdaq: TENB). The company also added Confluent’s Erica Schultz, an accomplished go-to-market leader in enterprise technology with over 25 years of experience building and scaling companies through hyper-growth, transformation, and IPO, to its board.
The company has raised $186 million from leading venture capital firms Sequoia Capital, Benchmark, Battery Ventures, IVP and others which will continue to help the company scale to capitalize on the explosive shift to digital-first, and fuel further global business expansion as every organization, everywhere, seeks to better understand their digital customers.
“In 2020, virtually every company realized they have to win on digital or risk irrelevance,” said Eric Vishria, General Partner at Benchmark. “The most innovative leaders from entertainment to financial services have partnered with Amplitude to make their digital products the best for their customers. To sustain this level of growth with virtually no cash burn and absolute best-in-class ARR/headcount is an incredible testament to Amplitude’s business fundamentals. The future is bright for Amplitude in 2021 and beyond as even more enterprises discover the enormous competitive advantage Amplitude gives them.”