Eppo, the cutting-edge experimentation platform, has raised $28 million series B financing, led by Davis Treybig at Innovation Endeavors with participation from Preeti Rathi at Icon Ventures with additional support from existing investors Menlo Ventures and Amplify Partners.
Read also – [Funding News] Talus Bioscience Raises $11.2 Million in New Funding
Eppo Series B funding comes at an interesting inflection point for the tech industry, a new era of change where experimentation is the clear differentiator between which companies will thrive, and which will struggle.
Read also -[Funding News] Learning.com Secures Growth Funding from CIBC Innovation Banking
Since last funding, Eppo has become synonymous with large experimentation ambitions. Category-leading companies like Twitch, DraftKings, and Coinbase use Eppo to supercharge their experimentation. So do generative AI pioneers like Descript and Perplexity. Eppo customers are running experiments across their businesses with use cases spanning product, marketing, and AI.
“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.”
With the help of this round’s funding, Eppo will be able to improve its product even further and support other marketing and AI experiments. One such experiment is a new Channel Incrementality test suite, which aims to reduce marketing spend—the largest risk in efficient growth.
“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.”
About Eppo
Eppo was founded in 2021 with the idea that nothing in the commercial landscape provided the power of experimentation systems like Airbnb, which meant building the same system over and over. Eppo leverage the modern data stack and the latest in causal inference literature, allowing companies to tie product team efforts to business metrics like revenue, with boosted statistical power. Of all products in the modern data stack, experimentation has one of the clearest relationships to revenue ROI because it injects C-suite-level metrics into every decision a product team makes.
