When it comes to building a web startup, the devil’s often in the details. And keeping track of those details — be it how far users get in your signup process, or how often they’re clicking a certain button — can be a real pain.
Mixpanel is a startup that’s looking to solve that problem by giving sites an easy-to-integrate analytics solution. And today it’s announcing that it’s raised another $1.25 million from an all star roster of investors, with new investors including Sequoia Capital (Jim Goetz and Roelof Botha) and Keith Rabois. That’s in addition to existing investors Max Levchin and Michael Birch, who are themselves experts at tracking viral data. The company previously participated in Y Combinator and raised $500k from Birch and Levchin in Feburary 2010.
Unlike traditional analytics services that focus on page views and uniques, Mixpanel is all about on-page actions: how many times users are activating a feature, how far in a flow they’re getting, and so on. All of this is tracked in real-time.
The startup’s customers include Quora, Bebo, and Slide (which has continued to use the service even after the Google acquisition). Cofounder Suhail Doshi says that they now are tracking data for 2000 sites, many of which are mobile. Not all of these are paid though — Mixpanel also offers a free plan that tracks 25,000 data points per month. Paid plans begin at $150 per month, which includes 500,000 events.
Doshi says that the company is already generating a significant amount of revenue, with double-digit revenue growth each month. The funding, he says, will be used toward expanding the engineering team and to make their work environment “the best place for engineers” (sidenote: I’m hearing this mantra more often as the hunt for engineers becomes ever more competitive).
Aside from the funding news, Mixpanel hasn’t had much news in the last several months, but Doshi hints that we’ll be hearing some major product announcements over the next six weeks.