Summary:
Statsig raises $100 million in Series C funding, reaching a $1.1 billion valuation.
The company aims to become a one-stop product-building platform amid AI transformations.
Led by Iconiq Growth, the funding will expand Statsig's product offerings and workforce.
Statsig reports $40 million in annual recurring revenue but has not disclosed profitability.
The startup plans to grow its team to 175-190 employees by early 2026.
A New Unicorn in the Tech Space
Statsig, a startup founded by a former Facebook engineering leader, has successfully raised $100 million in Series C funding, achieving a $1.1 billion valuation. This funding will accelerate its mission to unify product development tools in an era where AI is reshaping software creation.
Statsig CEO Vijaye Raji at the company’s Bellevue headquarters.
The Vision for Statsig
Based in Bellevue, Statsig provides essential tools that allow product teams to test new features, measure their impact, and decide on rollouts—essentially building on A/B testing practices. Vijaye Raji, the founder and CEO, envisions Statsig as a “one-stop product-building platform” that spans from conception to launch and performance observation.
Series C Funding Details
The Series C round was led by Iconiq Growth, known for backing successful companies like Datadog and Snowflake, alongside existing investors Sequoia and Madrona. With this new funding, Statsig aims to expand its product lineup and its team of 140 employees, reinforcing its position as a unicorn in the Seattle tech scene.
Financial Performance
Statsig reports $40 million in annual recurring revenue, although it has not disclosed its profitability status. The company ranks #9 on the GeekWire 200, indicating its prominence among Pacific Northwest tech startups.
The Impact of AI on Product Development
As AI accelerates software development, the need for experimentation and observation becomes critical. Raji emphasizes that AI-generated features introduce unpredictability, making continuous validation essential post-launch. The recent acquisition of competitor Eppo by Datadog highlights a trend of consolidation in the field, which Statsig views as an opportunity to position itself as a comprehensive platform.
Growth Plans
Statsig plans to grow its staff to between 175 and 190 employees by early 2026, with roles in engineering, product management, data science, and sales and marketing. Raji believes the new valuation and investor support will aid in attracting top-tier talent, particularly experienced engineers and product leaders.
The company is also known for its five-day in-office work policy, which promotes collaboration and may influence the local job market positively. As Statsig outgrows its current space, plans for a larger office near its current location are underway.
Investor Relations
Murali Joshi, a partner at Iconiq Growth, will join Statsig’s board, bringing valuable experience and a long-standing relationship with the company. With over $153 million raised to date, Statsig is set to expand its offerings, which already include experimentation, analytics, visualization, session replay, web analytics, and feature flagging tools. Raji mentions that there are three to four additional products currently in development, signaling robust growth ahead.
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