Companies collect data from their users. However, they don't know which data is valuable or not until the data is analyzed. In this mobile-first age, our phones are used for everything: apps, ordering food, and connecting to our cars.
These same companies have digitalized to meet customers and employees where they are. However, 92% of digital traffic is generated by mobile devices worldwide. They lack visibility into this data and how it can convert to retention and revenue.
Embrace is here to help. The Culver City-based data and observability company, Embrace, was founded in 2016. It launched its Data Intelligence product in 2016 after raising $45 million in Series A funding from New Enterprise Associates. NEA's Series B investors include Greycroft, AV8, Eniac and existing investors. Also joining NEA are a group founders from PagerDuty and SendBird as well as LogDNA, Scopely, Scopely, Scopely, Scopely, Testflight, Scopely, Scopely, Scopely, Scopely, Scopely, Scopely, Scopely, and Testflight. Crunchbase data shows that the capital injection has netted the company $57million.
The company's Data Intelligence product allows organizations to make all their mobile data available and actionable by their business Intelligence and data science teams. This allows other departments like marketing and engineering to use the data to make better decisions in areas such as new products or marketing campaigns.
This product joins Observability and Resolution, which can be used to proactively identify, prioritize and solve regressions.
This product can be used in a variety of industries, including mobile apps such as games and social media. It also has potential for future digital-first industries, as more IoT and mobile devices are being used to point-of-sale, Eric Futoran (CEO of Embrace) told TechCrunch. Our product allows engineers to look back on a year of mobile data and can disconnect from the user.
Embrace offers a SaaS pricing structure with pro/enterprise and free tiers. It works with over 100 organizations including Hyatt and GOAT, Apprentice, Glo TextNow, Dave, Glo, Glo, Glo, TextNow, Dave, ChowNow. It has not only grown its customer base but also increased its employee number to 45, nearly 400% more than its previous funding round in 2019. Futoran plans to keep that streak going, noting that it will reach over 100 employees in the next 12 months due to the new funding.
He also plans to use the funds to keep pace with the company's growth, which has seen its annual recurring revenue increase three times in the past year.
Futoran stated that Embrace aims at verticalizing data for mobile devices. This is a high-stakes endeavor as 75% of media consumption by Gen Z takes place on a mobile device.
He said that expectations for mobile phone experiences are higher than ever. To make sense of data, we are pushing the boundaries of AI, mobile and observation. This process must be automated and in real-time so you can quickly identify what it is. Mobile is difficult to accomplish. This is a natural evolution of our company, and we will provide data to those who do the AI and ML to aid in decision making.
