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General

August 6, 2020 2 minute read

Announcing Our Series D

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Derek Steer

CEO

When we started Mode seven years ago, as the industry was just emerging, it felt impossible to hire a qualified data scientist, let alone build an entire data stack and a culture to take advantage of it. Today, the number of data scientists just grew 40% year over year, and even small companies or departments can spin up a modern data stack in about 30 minutes.

Since then, we’ve found our place with fast-moving data teams who care most about getting the right answer and quickly incorporating it into decision-making. Particularly in the current uncertain business environment, we see endless demand for deeper, better and faster analysis.

We see this first-hand: Mode has processed 830 million queries for 300 thousand users. In 2019, our customer base grew to include 52% of the Forbes 500, with industry leaders like Anheuser Busch, Zillow, Lyft, Bloomberg, Capital One, VMware, and Condé Nast. Thanks to these intrepid problem-solvers, we’ve received nine G2 Awards, from Momentum Leader to Highest Performer to my personal favorite: “Users Love Us.”

We’re humbled and grateful to all of you who depend on Mode for everything from your day-to-day work to your most impactful decisions.

This morning, we announced that we’ve closed a $33 million round of Series D funding led by H.I.G. Growth Partners, with participation from Valor Equity Partners, Foundation Capital, REV Venture Partners, and Switch Ventures.

With this investment, we’ve ventured beyond “by analysts, for analysts” because the best analysts collaborate across the organization. They empower anyone with analytical ambitions to easily make discoveries or simply satisfy their curiosity. In that sense, we can’t really be for analysts unless we are for everybody.

Last week, we launched SCIM support, our Okta integration, and our Discovery API to help analysts and administrators manage the flow of information throughout their organizations.

Earlier this week, we launched Calculated Fields, which allows analysts and experts across a business to take advantage of Helix and perform fast calculations across big datasets, without making a round-trip to your database.

We’ve even got another launch lined up for next week, so stay tuned!

We’re working hard to push the vision of companies unified around decision science. To do this right, we’re working directly with you, our customers. Whether you are a new Mode customer or have been with us for years, this wouldn’t be possible without you! We can’t thank you enough for your support. Your feedback makes us better at what we do every day. If you have a story to share, please get in touch with me at derek@modeanalytics.com.

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