Four years after it was founded by former Facebook engineering leader Vijaye Raji, Statsig has joined the unicorn club. The Bellevue-based startup announced a $100 million Series C round at a $1.1 billion valuation, with ICONIQ Growth leading the investment and participation from existing backers Sequoia and Madrona. The company says the funds will be used to expand its team, enhance its product suite, and accelerate its mission to standardize data-driven product development.
The funding milestone caps a period of rapid momentum for Statsig, which reported $40 million in annual recurring revenue but declined to share further financials or profitability details. The company’s pitch is clear: today’s software products are too complex, AI-driven, and fast-moving to rely solely on human intuition. Product teams, Statsig argues, need a unified system that can help them test, measure, and iterate all in real time.
“Product development used to be an art,” Raji wrote in a blog post. “That simply doesn’t cut it today.” In the early days of software, decisions were often driven by the judgment of a single engineer or product manager. But as features multiplied, teams scaled, and customer experiences became more personalized especially with the rise of AI, the need for quantitative feedback became urgent.
