Digital insights platform Heap closes $110m funding round

David Murphy

Digital insights platform Heap has closed a $110m (£83.3m) Series D round at a $960m valuation. The funds will be used to scale Heap’s global operations and accelerate research and development of its digital analytics platform. Sixth Street Growth led the round, which included new investment from the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs). Sixth Street and Goldman will both receive representation on Heap’s board of directors. Existing investors NewView Capital, Menlo Ventures, DTCP, Triangle Peak Partners, Alliance Bernstein Private Credit Investors, Maverick Ventures, and The Private Shares Fund also participated. Heap’s total capital raised stands at $205m to date.

The latest funding will continue to facilitate the company’s product innovation, which in 2021 saw Heap release Illuminate, which automatically collects all customer interactions, then uses data science to offer actionable recommendations.

"McKinsey research notes that while there are 100m hits on agile transformation, two-thirds of organizations that are looking to become more agile are still treading water and achieving little or no business impact," said Heap CEO, Ken Fine. “Our new funding will help us further innovate to foster the significant business outcomes that McKinsey says can be achieved, including 30 per cent gains in efficiency, customer satisfaction, employee engagement, and operational performance.'"