Eppo, the cutting-edge experimentation platform, announced that they have raised $28M in a Series B investment funding. The round was led by Innovation Endeavors and Icon VC as a participating investor, with additional support from existing investors Menlo Ventures and Amplify Partners.
Eppo is a next-gen A/B experimentation platform that’s built to build the diverse, high flying experiment cultures seen at companies like Airbnb, Netflix, and Amazon. Built by alums of Airbnb, LinkedIn, and Uber, Eppo democratizes experimentation across product, AI, and marketing teams, with an emphasis on executive-level impact reporting and forecasting.
While prior generations of the A/B testing space narrowly focused on single use cases in devops or marketing, Eppo enables every function in an org to adopt experimentation by easily integrating with cloud services, MarTech tools, AI products, and data warehouses. As a result, category-leading companies like Twitch, DraftKings, and Coinbase use Eppo to supercharge their experimentation strategies, alongside generative AI pioneers like Descript and Perplexity.
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“Modern companies are navigating an era of efficient growth, with public markets simultaneously demanding high revenue scale and high growth,” says Chetan Sharma, CEO of Eppo. “Experimentation has become the canonical tool of efficient growth, de-risking large investments, ensuring that bad ideas fail fast, and giving leaders high conviction on which initiatives will successfully grow the business. Eppo lets companies replace decision by committee with decision by customers, creating an arena for a meritocracy of ideas.”
The funding from this round will be used to further expand on Eppo’s product and bolster support for different marketing and AI experiments, including a new Channel Incrementality test suite that targets the biggest risk of all in efficient growth: marketing spend.
“Eppo is instrumental in transforming our company’s approach to experimentation,” says Alexis Weill, Perplexity’s Head of Data. “The platform has helped us to foster a culture of testing and learning. With Eppo, we’ve been able to significantly scale the number of experiments we run concurrently, which allows us to make data-driven decisions faster.”
“Experimentation is quickly becoming an essential piece of the workflow of all functions within modern technology companies, including product, growth, machine learning, marketing, and finance. Eppo is the only modern experimentation platform built from first principles to power decision-making for the entire business, stemming largely from the team’s background in developing some of the most advanced experimentation systems in the world. We couldn’t be more excited to partner with a team developing such a beloved and category-leading product,” said Davis Treybig, partner at Innovation Endeavors.
SOURCE: PRNewsWire