Web site analytics firm Mixpanel, which is currently focused on building tools for mobile measurement, has raised $10m in a first institutional round of investment.
Investors include Andreessen Horowitz plus angel investors including PayPal Co-founder Max Levchin and Salesforce CEO Marc Benioff.
Mixpanel emerged from the incubator program of tech hothouse Y Combinator, in 2009. The company offers real-time ‘micro’ stats giving in-depth information on page views visitor engagement, and is currently investing in mobile analytics tools to address what it sees as a weak spot for its competitors Omniture and Google Analytics. Its new mobile metrics measure time spent using apps, return visitors and consistent use of features - rather than page views which are much less appropriate for mobile.
The company had already raised $0.5m in seed funding, back in 2010. Co-founder Suhail Doshi (pictured) told www.venturebeat.com
Mixpanel had been cashflow positive ‘for awhile’ and therefore wasn’t ‘in a hurry to raise funding’, adding that the firm would therefore use the cash 'to spoil the first one hundred people we hire.’
Web site: www.mixpanel.com