DEVOPSdigest

Eppo announced $19.5M in funding, consisting of a newly closed $16M Series A and a previously unannounced $3.5M Seed.

Menlo Ventures led the Series A round with participation from Seed leader Amplify Partners and angel investors from Airbnb and the Reforge Community. The funding will be used to make key hires in engineering and product development while accelerating product momentum.

Eppo makes high-quality experimentation accessible to growing companies with lower data volumes. Current customers include Cameo, Foxtrot, and Netlify.

Eppo was created by Chetan Sharma, an early member of Airbnb’s Data Science Team, to help data teams at companies of all sizes tap into the tooling and capabilities that only larger ones enjoyed. He saw how Airbnb’s growth rate increased during the great recession and their data showed a direct tie to experimentation. Legacy commercial tools were built for simple marketing tests and vanity click metrics, while Airbnb’s tools measured deep product changes against core business metrics.

“With the recent market dip and potential recession, we are seeing a huge boost to the demand for experimentation as companies can no longer take growth for granted,” said Chetan Sharma, CEO and founder, Eppo. “Data teams need to become revenue-generating teams rather than cost centers, and experimentation is the most effective way for data investments to verifiably improve metrics.”

"Experimentation is a pillar of what I call the Modern Growth Stack," said Naomi Ionita, Partner, Menlo Ventures. "For product-led growth, success hinges on the velocity of learning and driving metrics. Eppo allows any company to manage sophisticated experimentation and analysis linked directly to CEO-level business impact--made even more urgent as we look toward a potential recessionary period."

"Companies that use data to guide their product roadmap and understand the impact of their investments outperform their peers in bull and bear markets," said Sarah Catanzaro, General Partner at Amplify Partners. "With Eppo, any company can become data driven by running more rigorous experiments faster ..."