Mobile and web analytics startup Mixpanel has secured a $10 million Series A round of financing led by Andreessen Horowitz, which had previously made a seed investment, with participation from others including PayPal co-founder Max Levchin, Salesforce.com chairman and CEO Marc Benioff, and Yammer chairman and CEO David O. Sacks. Additionally, Andreessen Horowitz’s general partner Peter Levine has joined Mixpanel’s board of directors.
The funds will go to accelerate Mixpanel’s growth as it aims to be a leader in its field.
In making the announcement, Mixpanel also said it expects to reach 7 billion actions tracked in the month of May. Since February 2012, Mixpanel has nearly doubled the amount of actions tracked per month and increased revenue by more than 50 percent, and it now counts Viddy, Path and SocialCam among its customers.
“Knowing who is using an app for how long and which features are more used than others has a profound impact on how the application should be developed and deployed,” Levine wrote in a blog post. “Providing a dedicated solution to this problem is exactly what Mixpanel does. Until now, the best that mobile application developers could do was use older PC-based technology, which has been completely inappropriate for the mobile web.”
Mixpanel is privately held and is based in San Francisco.
Mixpanel – official site
Peter Levine – blog post
Andreessen Horowitz – official site