SessionStack raises an oversubscribed €750,000 seed round to create the next step in the evolution of digital analytics
SessionStack, the Digital Experience Insights platform that uncovers opportunities for digital experience optimization, just announced the closing of a €750,000 seed funding. The round is led by BrightCap Ventures with participation from our existing angel investor Boyko Iaramov.
As many VC funds showed interest in joining the round, we’re currently deciding whether to further expand it.
In the last few years, we have been very busy developing а product that is loved by product teams around the world. SessionStack’s growth has been purely organic, from word of mouth.
As the global digital transformation has drastically accelerated, the need for better product analytics is inevitable. Industries such as healthcare, education, insurance, etc. that were previously offline, are going digital. Industries that were already digital, like retail, are seeing unprecedented digital growth. This is why we raised our seed round — to create the next step in the evolution of digital analytics and address the rapidly changing and growing demand for better digital experiences.
Why does product analytics have to evolve?
The traditional product analytics solutions are fine for generic conclusions. But they cannot provide the level of insight that is needed by modern product teams. There are three main areas where traditional product analytics are lagging behind:
- If you don’t predict something, it won’t be measured: You have to know what you want to measure, what questions you want to answer, and the path you think users will take. When you learn that your assumption is wrong, you have to re-configure what you track.
- You know what is happening but don’t know why: E.g. “90% of your trials in the EU last month didn’t visit the billing page”. Now what?
- Unusable by most members of cross-functional teams. — The relationship between support issues, bugs, and bad design decisions and their impact on specific groups of customers is not clear.
SessionStack goes beyond these limitations by:
- Instrumentation-free: SessionStack collects and analyzes every point of user interaction. There is no manual tagging. You can uncover opportunities that you never thought of.
- You can replay user sessions and observe individual journeys. Understand what gets individual users’ attention, where they go, and how they interact with the product, providing insights on individual experiences.
- Cross-functional teams can leverage all of this data to easily understand issues, support tickets, and make design improvements.
How SessionStack will evolve
We’ve heard the feedback of our customers and will utilize the round to expand our Digital Experience Insights platform in the following areas:
SessionStack will provide PMs with precise, easy-to-digest digital insights. These insights will show them what steps need to be taken in order to turn unsuccessful users into successful ones. These insights will be based on user behavior data. E.g. “if the “checkout” button on the billing page is more visible, you will have 12% more purchases” or “If you improve the loading time of the registration page by 500ms, you will get 18% more trials”.
Granular searching and segmenting
We know that searching and segmenting is a crucial aspect of product teams when it comes to observing how important workflows are performing and whether people are behaving as expected. We’ll be expanding our segmentation capabilities, giving you many new ways to search criteria such as frustration and confusion indicators, page element interactions, and many more.
You will have a high-level understanding of how crucial user segments are performing and what you have to act upon.
We will be heavily expanding our user management and access level controls in order to accommodate the needs of both small startups and large enterprises.
We already have great partners such as Intercom, Zendesk, Sentry, and others. We know how important it is for product teams to plug SessionStack into the tools they are already using and help them in areas such as troubleshooting and customer tickets.
We will be actively working on new partnerships & integrations + improving existing ones in order to have precise clarity on what is happening to your users.
Thanks to our customers
Of course, all of this is possible thanks to our customers. There are many of them that have been with us since our inception. We’re very happy to see how many of them have turned from small startups to industry-leading companies. We’ll make sure that SessionStack will keep supporting them and help product teams turn their digital business into a category leader.