Embrace, an information technology startup based in Culver City, has raised $25 million in Series B funding to help organizations adapt to the increasing use of mobile devices.
The funding round was led by New Enterprise Associates (NEA) with participation from existing investors Greycroft, AV8, and Eniac, and founders from PagerDuty, Sendbird, LogDNA, Scopely, and TestFlight. Embrace has now raised a total of $57 million in funding, which will allow it to accelerate the expansion of its team and suite of products. Aaron Jacobson, Partner at NEA, referred to the firm’s participation by stating:
“We see Embrace as the next evolution in a line of transformative data-focused companies in which we have invested, including Databricks, Tableau, and DataRobot. With nearly all companies moving to digital-first engagement with customers, mobile has become a business-critical initiative. We believe Embrace is poised for explosive growth, and we’re thrilled to partner with Eric and the team to capture the massive opportunity of mobile.”
Embrace was founded in 2016 to provide enterprises with observability and data platforms specifically designed for the mobile experience, allowing them to make informed decisions based on actionable data. The increasing demand for the startup’s solutions has allowed it to grow rapidly over the past years, increasing its employee count by 400% since 2019 while serving more than 100 organizations worldwide. Eric Futoran, CEO at Embrace, said about the startup’s mission:
“For businesses competing in the modern mobile ecosystem, continually delivering great mobile experiences while innovating rapidly is incredibly difficult. Mobile has so many variables to contend with that companies cannot afford to make decisions on guesswork. With Embrace, for the first time, companies can make truly informed decisions based on comprehensive datasets that work for their needs.”
With mobile devices accounting for more than 50% of all web traffic, companies around the world are paying special attention to improving the mobile experience for their users as data shows that a better mobile experience translates to better conversion rates. Embrace is taking advantage of this growing trend to provide its users with data that allows them to improve the mobile performance of their platforms, allowing them to increase their revenue and customer satisfaction.