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.“