Segment Secures $64 Million

Internet & IoT startup Segment announced the completion of $64 million in Series C financing. Six investors contributed to the round: Y Combinator, GV, New Enterprise Associates, Thrive Capital, SV Angel, and Accel Partners.

Segment is a fast-growing startup building a platform for collecting customer data. The company provides a single API to track customer data across multiple devices and channels and sends it to third-party tools, internal systems, or a SQL database with the flip of a switch. Segment eliminates the need to write code to integrate new tools, saving time and removing dependencies across teams. By consolidating tracking to one API, Segment sends consistent, complete data to every tool and database where companies need to use it.

The company revealed that the product is in use by more than 15,000 customers, including Intuit, Atlassian, and The Gap. Company CEO Peter Reinhardt said that, while Segment was initially adopted by startups, he sees a significant opportunity in selling the technology to large enterprises. He is also hoping to see Segment turn into a broader platform that third parties can use to build products that tap into its data.