Mutiny Raises $50M Series B Funding to Help Companies Turn Wasted Marketing Spend Into Revenue
SAN FRANCISCO, April 20, 2022 /PRNewswire/ -- Mutiny today announced a $50 million Series B funding round co-led by Tiger Global and Insight Partners with participation from prior investors Sequoia Capital, Cowboy Ventures, and Uncork Capital. The round also includes current and former CMOs from world-class companies like Uber, Visa, Salesforce, Square, Figma, Condé Nast, Carta, Snowflake, and Atlassian, who see in Mutiny a new and massive opportunity to change the way companies grow revenue.
Companies spend billions of dollars to acquire customers online, yet $19 out of every $20 they spend is wasted. Large tech companies try to fix this poor performance using two expensive resources: people and data. They hire massive engineering and data science teams to manually optimize the buyer experience and use the company's wealth of data to speak directly to each buyer and convert them. Few companies can afford this luxury.
Mutiny solves this problem with a no-code platform that plugs into the company's existing data and website, and uses AI to serve thousands of different versions of the site to different users. Mutiny automates a company's growth engineering efforts, so that every company can turn their marketing spend into revenue — without hiring engineers or data scientists.
"Growing revenue from digital channels has quickly become a board-level concern for private and public companies," said Jaleh Rezaei, CEO and co-founder of Mutiny. "We're thrilled to welcome our new investors, whose funding will enable us to accelerate our roadmap and invest heavily in technology that we believe can help every company grow revenue faster."
Some of the world's fastest growing companies such as Notion, Snowflake, Qualtrics, Dropbox, Carta, and Brex use Mutiny to convert their visitors into customers. In fact, fifty million people have seen a website personalized by Mutiny. Mutiny's AI learns from this activity to understand what works for different audiences and makes impactful changes for its customers. It can even rewrite website copy.
"At Notion, we are doubling down on online acquisition channels as we rapidly grow. Mutiny has helped us scale our online spend by letting our team quickly build better web experiences without requiring engineers," said Olivia Nottebohm, Chief Revenue Officer at Notion. "After seeing Mutiny increase our conversion rate from paid ads by up to 60%, we quickly expanded Mutiny to the rest of our website. Mutiny has been a great partner for Notion as we continue to grow globally."
"Speed and capital efficiency are paramount to growing a successful company today. As the pandemic has forced all customer acquisition online, marketing has become a more technical and complicated field," said Jeff Horing, Co-founder and Managing Director at Insight Partners. "With its innovative no-code platform, Mutiny has created a completely new category that allows enterprise marketing teams to launch AI-recommended growth experiments that tie directly back to revenue, without the support of dedicated engineers."
"Mutiny has seen unbelievable growth and momentum, quickly becoming a secret weapon of the world's fastest growing companies," said John Curtius, Partner at Tiger Global. "Every company out there stands to benefit from Mutiny because, simply put, it helps them grow their revenue faster."
Mutiny is a no-code AI platform that helps marketers convert their top of funnel demand into revenue, without engineers. Mutiny gives marketers everything they need to drive revenue and prove it — from data and analytics to AI-powered recommendations and content writing.
About Tiger Global
Tiger Global Management is a leading global technology investment firm with over $90 billion under management. The firm focuses on private and public companies in the software, internet, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, Databricks, Toast, Snowflake, Stripe, Bytedance, SentinelOne, Procore, Facebook, Alibaba, Chime, UiPath, Peloton, Attentive, LinkedIn, and Flipkart.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.