Atlanta-based FullStory has raised $103 million in a Series D round led by European investors, bringing the user-experience intelligence firm’s valuation to the “unicorn” tier and setting it up for international expansion.
FullStory helps online grocers, restaurants, investment firms and consumer brands in various categories analyze user behavior on their websites and apps to improve the customer experience and drive revenue growth.
The round, which values the company at $1.8 billion, was led by the growth fund of Permira, a global private equity firm with 44 billion euros of committed capital and eight offices across Europe, including in London and Frankfurt, as well as five in Asia.
Serving more than 3,100 customers in 60-plus countries, FullStory said in a news release that the funds would be used for global growth and the improvement of its digital experience intelligence, or DXI, platform.
According to Atlanta tech publication Hypepotamus, the company plans to expand across Europe, the Middle East, Australia and New Zealand; it employs 300 people across 35 states but plans to double its workforce in the next 18 months and hire 150 new staff in Atlanta, the site reported.
Among FullStory’s many customers is the Ocado Group, an online grocer in the United Kingdom that is also offering its logistics technology to the likes of Kroger in the U.S. FullStory founder and CEO Scott Voigt said FullStory combines behavioral data, machine learning and heuristic methods — the study of problem-solving — to provide insights that can’t be gleaned from traditional analytics.
“We will continue to aggressively innovate privacy-first platform capabilities that empower global companies to bring a better version of the digital experience to life,” Mr. Voigt said in the release.
Atlanta has been on a tear of late minting unicorns — privately held companies with a greater than $1 billion valuation. FullStory joins OneTrust, Calendly, SalesLoft, Greenlight, Bakkt and others in that club, many of them achieving this status based on fundraising rounds held in 2021.
Permira joined existing investors including Kleiner Perkins, GV, Stripes, Dell Technologies Capital, Salesforce Ventures and Glynn Capital in the latest funding round.
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