CULVER CITY, Calif., Oct. 20, 2021 /PRNewswire/ -- Embrace, the only observability and data platform built exclusively for mobile, today announced it has raised $45M in Series B funding led by New Enterprise Associates (NEA) with participation from existing investors Greycroft, AV8, and Eniac, and founders from PagerDuty, Sendbird, LogDNA, Scopely, and TestFlight.
This latest round of funding accompanies the launch of Embrace's next platform product, Data Intelligence. With Data Intelligence, organizations can now make 100% of their mobile data accessible and actionable by their BI and Data Science teams. With full visibility into all of their mobile user experience data, a company's engineering, product, and marketing teams can make informed, truly data-driven decisions around their marketing campaigns and product features to drive business value across retention, revenue, and adoption.
The world is now mobile-first and increasingly so with each generation. Mobile is not just the apps we use but the point-of-sale tablets on which we order coffee, the cars we drive, and the 10+ IoT devices the average family now relies on. The way we purchase, play, and work have irrevocably changed, with COVID forcing fundamental shifts in user interactions, including keyless experiences at hotels, ceiling-to-floor devices at fast food chains, and COVID-safe workplace entry. Corporations have accelerated their digitalization by a shocking seven years to meet consumers and workers where they are, and mobile devices represent up to 92% of all digital traffic worldwide.
The quantity of data generated by mobile devices has exploded, yet businesses lack visibility into the key drivers of retention and revenue. Traditional error logging and APM platforms collect extremely limited categories of data, dropping as much as 98% of the valuable data that could be used to create more compelling user experiences and solve business problems. These vendors are not positioned for the new worlds of Observability and AI/ML, which require access to comprehensive user experience data to drive business decisions as opposed to only those data points explicitly instrumented on a hunch by an engineer or product manager.
"For businesses competing in the modern mobile ecosystem, continually delivering great mobile experiences while innovating rapidly is incredibly difficult," said Eric Futoran, CEO, Embrace. "Mobile has so many variables to contend with that companies cannot afford to make decisions on guesswork. With Embrace, for the first time, companies can make truly informed decisions based on comprehensive datasets that work for their needs."
Embrace anticipated the disruptive shift towards mobile by building the only verticalized platform slicing through the entire data ecosystem. Embrace's first products built on top of this platform are Observability and Resolution, which engineering teams use to proactively uncover, prioritize, and instantly resolve any business-impacting regression. By collecting 100% of sessions from 100% of users and transforming the voluminous and cardinal data into actionable insights, companies can make fully informed, revenue-optimizing decisions.
"We see Embrace as the next evolution in a line of transformative data-focused companies in which we have invested, including Databricks, Tableau, and DataRobot," said Aaron Jacobson, Partner at NEA. "With nearly all companies moving to digital-first engagement with customers, mobile has become a business-critical initiative. We believe Embrace is poised for explosive growth, and we're thrilled to partner with Eric and the team to capture the massive opportunity of mobile."
Focused on partnering with current and future global enterprises, Embrace works with over 100 organizations worldwide. Embrace's growing customer base includes many global brands, such as Hyatt, GOAT, Apprentice, Cameo, and TextNow. The company continues to see growth in digital-first industries, such as e-commerce, IoT, and e-learning, along with increased traction in new verticals, such as workforce productivity, financial services, and healthcare, as these companies undergo digital transformations to better serve their customers.
"Listening to our guests is central to our strategy of caring at Hyatt, and when those touchpoints are increasingly digital and done through our mobile app, observability is a critical way we listen," said Ben Weiss, Vice President of Product Management at Hyatt Hotels. "Embrace provides the proactive platform we need to perfect the user experience, and accelerate the growth of our mobile channel."
Moving forward, Embrace, which has increased its employee count by nearly 400% since its last funding round in 2019, plans to expand its executive leadership team and hire new talent across the entire business, including growing go-to-market functions for enterprise companies. The company will continue to expand its suite of products built on top of the verticalized data platform so that every business can transform to the mobile eventuality.
Embrace's mission is to transform all companies to mobile by empowering them to deliver incredible mobile experiences. Embrace is the only observability and data platform built for mobile. With Embrace, teams proactively uncover, prioritize, and instantly solve issues before they affect a business' bottom line. More than 100 organizations worldwide — and many of the world's best mobile companies — including Hyatt, GOAT, Glo, Depop, Dave, and ChowNow, use Embrace to proactively optimize their mobile experiences. Learn more at embrace.io or follow Embrace on LinkedIn, Facebook, or Twitter.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 250 portfolio company IPOs and more than 425 mergers and acquisitions. www.nea.com.