Mixpanel Revenue, Valuation, Funding & Investors

Mixpanel is valued at $1.1B as of November 2021, a 10.5x multiple on its last reported $100M revenue.

Last Mixpanel valuation

$1.1B

Series C · Nov 2021

Last Mixpanel funding round

$200M

Series C · Nov 2021

Mixpanel revenue

$100M

Series C · Nov 2021

Key investors in Mixpanel

  • Andreessen Horowitz
  • Bain Capital

Mixpanel Overview

About Mixpanel

Mixpanel is a San Francisco-headquartered product analytics platform that tracks user behavior across web, mobile, and server-side applications in real time. It visualizes funnels, retention cohorts, and feature usage for teams at companies like Uber, Netflix, and Airbnb. Founded in 2009, Mixpanel processes billions of events monthly, offering SQL queries, A/B testing, and predictive modeling without sampling. The self-serve tool connects to data warehouses like Snowflake for custom dashboards.


Founded

2009

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$100M (Nov 2021)

Valuation

$1.1B (Nov 2021)

Mixpanel Valuation

Mixpanel is currently valued at $1.1B, based on its Series C in November 2021.

The $200M round was led by Bain Capital.

Mixpanel's valuation has grown 1.2x from $865M at its Series B in December 2014 to $1.1B in November 2021, across 2 priced rounds.

Mixpanel valuation by funding round

Revenue multiple
Mixpanel valuation by funding round
DateStageValuationRevenue Multiple
Nov 2021Series C$1.1B10.5x
Dec 2014Series B$865M8.7x

Mixpanel Revenue

Mixpanel's latest recorded revenue is $100M, as of its Series C in November 2021. At a $1.1B valuation, that implies a 10.5x revenue multiple.

Revenue moved from $100M in December 2014 to $100M in November 2021, while the revenue multiple moved from 8.7x to 10.5x.

Mixpanel revenue by funding round

Mixpanel revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2021$100M$1.1B10.5xSeries C
Dec 2014$100M$865M8.7xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Mixpanel Funding History

Mixpanel has raised a total of $265M across 2 funding rounds.

Mixpanel's first fundraising round was a $65M Series B in December 2014. The most recent completed round was a $200M Series C in November 2021.

Mixpanel funding rounds

Mixpanel funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series CBain Capital (lead)$200M$1.1BMixpanel is a San Francisco-based product analytics platform founded in 2009 that tracks user interactions with web and mobile applications, analyzes data to support product innovation, identifies popular features, retention drivers, friction points, and informs product roadmaps, powering over 6,000 innovative digital companies including Uber, DocuSign, Hinge, Wise, and eToro. On November 16, 2021, Mixpanel secured a $200 million Series C growth investment led by Bain Capital Tech Opportunities at a $1.05 billion valuation, marking its first unicorn status and bringing total funding to $277 million following a $65 million Series B in 2014 led by Andreessen Horowitz. The investment validates Mixpanel's product-led growth strategy amid acceleration in the digital economy and COVID-driven tech disruption, with CEO Amir Movafaghi noting a surge in revenue from product development decisions and heightened demand for analytics insights. Funds will accelerate product development, expand engineering and product teams, and scale go-to-market efforts in EMEA and Asia Pacific over the next 12-18 months, positioning Mixpanel to capture the massive product analytics market through partnerships and enterprise focus. Bain Capital Tech Opportunities, which invests in application software and other tech sub-verticals, praised Mixpanel's hyper-focused core product strategy and customer ROI, citing feedback from hundreds of customers on the platform's depth for data-driven decisions by engineering, product, and design teams. This round came seven years after the prior VC investment, during which Mixpanel refined its offerings to align with market timing as digital transformation boosted demand for its infrastructure to process and utilize user data efficiently. Mixpanel differentiates in a competitive analytics landscape by emphasizing actionable insights for product teams rather than broad data processing, with Bain highlighting the management team's focus on maximum customer value.
Dec 2014Series BAndreessen Horowitz (lead)$65M$865MMixpanel is a mobile and product analytics platform that enables companies to analyze user behavior and answer detailed questions about customer interactions. The platform was processing 34 billion actions monthly at the time of this funding round. Founded by Suhail Doshi and Tim Trefren, the company had achieved profitability by 2012 and had accumulated over $20 million in cash reserves prior to this round, having previously raised $12 million in venture funding. In December 2014, Mixpanel announced a $65 million Series B investment from returning investor Andreessen Horowitz, valuing the company at $865 million post-money. CEO Suhail Doshi indicated the capital would be deployed to experiment aggressively with new features and technology, including enhancements to predictive capabilities through data science and AI, and making the platform more accessible to non-technical users. The company had recently surpassed 100 employees and served customers including Netflix, Monday.com, Noom, and Xero. Andreessen Horowitz had been a believer in Mixpanel at an earlier stage when other investors were passing on the opportunity.

Who has invested in Mixpanel?

2 investors have backed Mixpanel across its funding rounds, including Andreessen Horowitz and Bain Capital.

Lead investors include Bain Capital and Andreessen Horowitz.


Mixpanel Investors

Investors in Mixpanel by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Mixpanel

Mixpanel has acquired 1 company to date.

Last acquisition by Mixpanel was on October 7th 2025. Mixpanel acquired DoubleLoop for undisclosed valuation.


Latest Acquisitions by Mixpanel

DoubleLoop
Description
DoubleLoop is a strategy platform for product and growth teams at companies like Amplitude, SpotHero, and Grain. The tool maps initiatives to metrics, facilitates stakeholder alignment, and evaluates strategy performance through visual roadmaps and impact analysis. San Francisco-headquartered, it shifts organizations from project completion to outcome-driven planning.
HQ CountryUnited States
HQ City
San Francisco, CA
Deal Date7 Oct 2025
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Investments by Mixpanel

Mixpanel has invested in 6 companies to date.

Latest investment by Mixpanel was on June 30th 2022. Mixpanel invested in EMARKETING SOLUTIONS, LLC in their $200K Seed round.


Latest Investments by Mixpanel

EMARKETING SOLUTIONS, LLC
Dream Business System
U22
WEBZELLA LTD
Description
EMARKETING SOLUTIONS, LLC is a digital marketing resource hub offering tools, software reviews, and educational content for online businesses seeking growth strategies.
-
U22 is a live streaming platform for K-pop concerts, esports tournaments, and virtual events using multi-angle HD feeds and interactive chat. Headquartered in Seoul, South Korea, it streams events like BTS fan meetings and League of Legends matches to global audiences. Launched in 2020, U22 partners with HYBE Labels and Kakao for pay-per-view access on web and mobile.
WEBZELLA LTD is a provider of digital marketing and e-learning solutions through https://webzella.com. The company delivers tools for online course creation, marketing automation, SEO, and performance analytics to educators and businesses.
HQ CountryUnited StatesUnited StatesUkraineEgypt
HQ City
Los Angeles, CA
-
Kharkiv
Cairo
Deal Date30 Jun 20223 Jun 202224 May 202230 Apr 2022
RoundSeedSeedSeedPre-seed
Raised$200K$600K$100K$100K
InvestorsZendesk; Stripe; Segment; Twilio; Amazon Web ServicesAuth0; Zendesk; Stripe; Segment; Twilio; Amazon Web Services; Notion CapitalSegment; Amazon Web ServicesStripe; Segment; Twilio; Amazon Web Services; Notion Capital
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Mixpanel Competitors

Mixpanel competitors include listed companies like Clarivate and Red Violet, and private ones like Panorama Education, Morning Consult, Imply and EcoVadis.

Public and private companies comparable to Mixpanel
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Panorama EducationUnited StatesBoston, MAPrivate--$1.1B-
Morning ConsultUnited StatesWashington, DCPrivate$50M-$1B-
ImplyUnited StatesSan Francisco, CAPrivate--$1.1B-
EcoVadisFranceParisPrivate$115M-$1B8.7x
ClarivateUnited KingdomUnited KingdomPublicly listed$2.5B$829M$1.2B2.2x
Red VioletUnited StatesUnited StatesPublicly listed$90M$24M$1.2B11.7x

Mixpanel Public Comps

Mixpanel is still privately-owned, but its public comps include Clarivate, Beijing Join-Cheer, Red Violet, WingArc1st, Similarweb, Cognyte Software, Plus Alpha Consulting, Latent View Analytics, Claritev and Happiest Minds Technologies.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Clarivate$2.5B$829M2.1x2.2x6.3x5.3x
Beijing Join-Cheer$386M$11M1.9x-68.9x-
Red Violet$90M$24M13.2x11.7x50.0x31.7x
WingArc1st$199M$70M3.5x3.3x10.0x10.5x
Similarweb$283M($15M)2.5x2.3x(48.6x)26.2x
Cognyte Software$400M$21M1.5x1.4x27.6x9.8x
Plus Alpha Consulting$110M$36M4.2x3.8x12.9x9.4x
Latent View Analytics$111M$27M4.4x4.0x17.8x18.2x

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Common questions about Mixpanel

When was Mixpanel founded?Mixpanel was founded in 2009.
Where is Mixpanel headquartered?Mixpanel is headquartered in San Francisco, CA, United States.
Is Mixpanel publicly listed?No, Mixpanel is a private, VC-backed company.
What is Mixpanel's valuation?Mixpanel was last valued at $1.1B in its Series C in November 2021.
How much funding has Mixpanel raised?Mixpanel has raised $265M across 2 funding rounds.
What was Mixpanel's last funding round?Mixpanel's last funding round was a $200M Series C in November 2021, led by Bain Capital.
Who are Mixpanel's investors?Mixpanel's investors include Andreessen Horowitz and Bain Capital.
What is Mixpanel's revenue?Mixpanel's latest recorded revenue is $100M (November 2021).
What is Mixpanel's revenue multiple?Mixpanel's latest valuation implies a 10.5x revenue multiple ($1.1B valuation on $100M of revenue).
Which companies are comparable to Mixpanel?Companies comparable to Mixpanel include Panorama Education, Morning Consult, Imply, EcoVadis, Clarivate and Red Violet.
How many companies has Mixpanel acquired?Mixpanel has acquired 1 company, including DoubleLoop.
How many companies has Mixpanel invested in?Mixpanel has invested in 6 companies, including EMARKETING SOLUTIONS, LLC, Dream Business System, U22, WEBZELLA LTD, Connect Plus10 LTD and Seven Magnum.
What was Mixpanel's last investment?In June 2022, Mixpanel invested in EMARKETING SOLUTIONS, LLC's $200K seed round alongside Zendesk, Stripe, Segment and 2 other investors.

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