Segment Raises $27M in Series B Funding

segmentSegment, a San Francisco, CA-based customer data hub, raised $27m in Series B funding.

The round was led by Thrive Capital with participation from existing investors Accel Partners, Kleiner Perkins Caufield & Byers, and Jon Winkelried, former president of Goldman Sachs. As a part of the investment, Will Gaybrick, CFO of Stripe and General Partner at Thrive Capital, will be joining the Segment board.

The company plans to use the funds to double the team from 50 to 100, add connections to known data storage platforms, and capture new types of customer data beyond in-app behavior.

Led by Peter Reinhardt, CEO and co-founder, Segment provides a platform for collecting customer data generated by a website, mobile app, servers, and more — and send it to third-party tools, internal systems, or SQL databases.
Companies including Conde Nast, Bonobos and HotelTonight use Segment as their data infrastructure, which now processes 50 billion API calls per month.

With the funding, the company will develop new offerings for customers to query and build on their raw data, connecting to data warehousing services beyond Amazon Redshift such as Postgres, MySQL etc.. In addition, Segment plans to collect new types of data, capturing experiences where customers interact with brands outside of their products.



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