Statsig, a startup that aids software teams in testing and launching products, has successfully raised $100 million in Series C funding, achieving a valuation of $1.1 billion. This news comes after their acquisition discussions with Datadog fell through, leading the latter to acquire competitor Eppo instead. The investment round was led by ICONIQ Growth, with contributions from Sequoia and Madrona. Statsig is using the funds to enhance its capabilities and expand its workforce.
Key Points
- Statsig raised $100 million in Series C funding, putting its valuation at $1.1 billion.
- Funding led by ICONIQ Growth and participated by Sequoia and Madrona.
- The acquisition discussions with Datadog were abandoned, as Datadog opted for Eppo instead.
- Statsig reported $40 million in annualised revenue, showcasing rapid growth.
- The startup aims to improve product testing and release strategies for software teams.
Why should I read this?
If you’re even remotely interested in tech startups or investment trends, this article is a must-read! Statsig’s funding success, especially post-Datadog saga, is a clear indicator of where the market’s heading. Plus, it’s a great insight into how competition is shaping the industry landscape. Avoid the FOMO; we’ve done the digging for you!