Vijaye Raji, CEO and founder of Statsig. (Statistical photo)
Statsig, a startup in the Seattle area, has raised $43 million in new funding to further develop and market technology that helps product teams test and evaluate new features, using live data from real customers, before they are widely introduced.
Based in Kirkland, Wash., Statsig was founded just over a year ago by Vijaye Raji, former Facebook technical director, inspired by the social network’s internal tools to experiment with new product features.
Sequoia Capital of Silicon Valley led the Series B funding round, with the participation of Seattle’s Madrona Venture Group. The venture capital firms played the same role in Statsig’s $10.4 million Series A round last year. Total funding to date now exceeds $53 million.
Statsig calls its approach a significant improvement over traditional A/B testing, allowing product teams to perform fine-tuned checks and run hundreds of experiments in parallel, with detailed analysis of the results based on the metrics of their choice.
The company has grown to 31 employees, compared to a dozen last summer. Statsig says sales have jumped from zero to seven figures (somewhere north of $1 million) in five months.
The startup lists clients including Brex, Headspace, Notion, Rec Room, TelevisaUnivision and Whatnot, and says companies use Statsig for products that reach hundreds of millions of end users each month.
Statsig itself has meanwhile rolled out hundreds of new features per month.
This post Statsig raises $43M Series B round for rapid, live testing and analysis of new product features
was original published at “https://www.geekwire.com/2022/statsig-raises-43m-series-b-round-for-rapid-live-testing-and-analysis-of-new-product-features/”
