Freshpaint Announces $14.5 Million in Financing and Launches Free Tier to Unlock Customer Data Without Engineering Work
Company expands to address unmet needs of non-engineers
SAN FRANCISCO, CA, November 16, 2022 — Freshpaint, a Y Combinator-backed company that enables businesses to capture and activate customer data across hundreds of integrations like Google Analytics, Mixpanel, Iterable, Braze, Snowflake, and more without relying heavily on engineering, announced $14.5 million in financing, with a $9.5M Series A led by Intel Capital and an additional $5 million in debt. Nick Washburn, Senior Managing Director at Intel Capital, will help accelerate Freshpaint’s growth by joining its board of directors.
“Our goal is to help businesses get the customer data that is table stakes for building better products, driving engagement, improving retention, and growing faster. The teams who care about customer data usually don’t sit in software engineering – they’re data teams, product managers, growth marketers, and other business users,” said Steven Fitzsimmons, co-founder of Freshpaint. “All the existing tools to collect and use customer data were specifically built for developers who live in the codebase, so we set out to make customer data accessible to everyone who is not a software engineer.”
Freshpaint will use the funding to support their mission of helping data, product, and other non-engineering teams unlock the power of customer data without relying heavily on software engineers, including rapidly expanding its platform and launching a free tier to help startups unlock customer data from day zero.
“The most important data for a given company is first-party customer data. However, historically the users of that data – be it product, marketing, growth, or sales teams – have to endure unnecessary handoffs with the engineering team to instrument, implement, and maintain tedious tracking code to capture that data,” said Nick Washburn, Senior Managing Director at Intel Capital. “Freshpaint’s platform empowers these ultimate data users – the non-engineers – to self-service capture first-party customer data in real-time and automatically populate it in the end analytics and marketing tools they use daily to drive business outcomes.”
Unlike traditional platforms used to collect and activate customer data that require lots of developer resources, Freshpaint provides non-engineering teams tools to automatically instrument their site or app for analytics tracking and generate a behavioral customer dataset, then activate their customer data to hundreds of out-of-the-box integrations to analytics and marketing tools like Google Analytics, Mixpanel, Iterable, Braze, BigQuery, Snowflake, and more.
Freshpaint was founded in 2019 by veterans of the web analytics industry. Co-founders Michael Malis and Steven Fitzsimmons were both early employees at product analytics company Heap. Malis built and scaled data infrastructure at companies like Heap and Uber. Fitzsimmons brought new products to market and led growth experimentation efforts at companies like Heap and Quantcast.
Since launching in 2020, Freshpaint has partnered with customers like B2C brands Breville, Monster.com, and Thumbtack, as well as B2B companies like Bitrise, Modern Health, and more.
"The user data we collect with Freshpaint is crucial for anyone on our team looking to improve the customer experience,” said Somya Mathur, Product Analytics Manager at Modern Health. “With Freshpaint, we get a centralized, reliable source for data about users in nearly real-time. It's enabling Modern Health to scale our analytics and marketing stack as our applications for user data grow in number and complexity.”
“Our generous free plan offering is the latest iteration of our vision. We see this product offering as a long-term investment. Companies can’t run without customer data. By offering a free plan that enables a fast setup of the same customer data infrastructure that our enterprise customers use, we can help early-stage startups achieve their ambitious growth goals,” said Steven Fitzsimmons, co-founder of Freshpaint.
The launch of Freshpaint’s generous free plan comes on the heels of a year of major product accomplishments including:
- Automatically instrumenting analytics tracking on a site or app in minutes without engineering work, saving teams weeks of time by eliminating up to 90% of manual coding work
- Enabling product managers, data teams, and other non-engineers to tag events with Freshpaint’s Visual Tagger
- Pioneering the hybrid tracking methodology where Autotrack and Precision Tracking are combined, enabling companies to scale their customer data infrastructure as they grow
- Releasing hundreds of one-click integrations that install and send customer data to the analytics and marketing tools that data teams, product managers, and marketers use to analyze and engage customers
- Launching the industry’s first healthcare-focused offering for HIPAA compliance, with a data governance toolset to control sensitive data like Protected Health Information (PHI) across a stack of analytics and marketing tools
Following Freshpaint’s $1.65 million Seed Round after the company graduated from Y Combinator, this Series A brings the company’s total financing to more than $16 million. With this latest funding round, the company will:
- Automate away the manual work that software engineers are forced to do to capture first-party customer data
- Continue to scale its data governance featureset to help businesses control sensitive data like PHI across their stack
- Expand its library of out-of-the-box integrations, and provide a platform for customers and partners to build their own integrations
- Enable data teams do more with their customer data through powerful transformations, importing external datasets, and strong interoperability with cloud data warehouses
Founded by veterans of the web analytics space, Freshpaint helps teams capture and use the customer data they need to build a better product, drive engagement, and improve retention – without the heavy engineering work traditionally required. Freshpaint's hundreds of integrations and powerful data governance functionality make it easy to transform, control, and send customer data between the analytics and marketing tools companies use to run their business. Freshpaint is backed by leading investors such as Intel Capital and Y Combinator. For more information, visit www.freshpaint.io.
Steven Fitzsimmons, Co-founder and CEO