Statsig Becomes a Unicorn as Product Teams Demand Simpler, Smarter Stacks

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.

Statsig was built in response to this shift. It offers an integrated platform that combines feature flagging, experimentation, performance monitoring, and analytics into one workflow. Instead of stringing together multiple “best-in-class” tools, product teams can use Statsig as a centralized system of record for understanding how their releases are performing and what’s driving outcomes.

“The status quo for data is a mess,” the company noted. Many teams use fragmented tools, leading to slower decisions, disconnected metrics, and operational friction. Statsig’s goal is to replace that sprawl with a single platform that enables fast experimentation and continuous learning.

Statsig’s core differentiation is its breadth. While many competitors focus on one function, A/B testing, analytics, or feature rollouts, Statsig integrates all of these into a single environment.

“Many competitors do a really good job solving that one problem,” Raji told GeekWire. “But as those tools get bundled into broader platforms, it’s validating the vision that we had originally.”

That vision is resonating with enterprise buyers, as Raji noted, with many large customers now seeking a “single source of truth” that tightly connects experimentation with business metrics and application behavior. With Statsig, product teams can manage feature releases through dynamic feature flags, run experiments to precisely measure impact on user behavior and business goals, and analyze metrics in real time using dashboards and advanced filtering tools. The platform also enables teams to link product changes directly to application performance through integrated observability features, while capturing qualitative insights via session replays to better understand the “why” behind user actions.

Statsig’s system also connects directly to a company’s data warehouse, reducing the need for data duplication and external processing. That architectural choice improves security and operational efficiency.

With the new funding, Statsig plans to grow its 140-person team to around 175–190 by early 2026, hiring across engineering, product, data science, and go-to-market roles. The company has maintained a five-day in-office policy at its Bellevue headquarters, which Raji said has been key to fostering rapid collaboration and execution.

The hiring strategy is focused on candidates who align with that working style and who are drawn to the company’s long-term mission. Raji sees the new valuation and ICONIQ’s backing as helping Statsig attract top-tier talent who might have been wary of joining a startup before.

The company is currently outgrowing its existing office and plans to move to a larger space nearby, continuing to anchor its operations in the Seattle area.

Statsig’s pitch has gained urgency as AI introduces new challenges to product development. “With AI, every customer’s experience is different because models are constantly adapting,” the company wrote. That variability makes it difficult to understand whether a feature is working by simply using it with the effects needed to be measured quantitatively across different users and conditions.

“AI-generated features introduce new levels of unpredictability,” Raji told GeekWire. “Product teams need to validate not only whether a feature works initially, but whether it continues to work as expected after launch.”

Statsig’s vision has gained additional credibility amid recent industry consolidation. Datadog, a cloud monitoring firm, recently acquired experimentation startup Eppo. Before that deal, Datadog had approached Statsig, according to Upstarts Media.

Raji wrote a blog post about the Datadog–Eppo deal, calling it a “huge move in the experimentation category.” But he also used the moment to underline Statsig’s distinct approach. While others focus narrowly, Statsig aims to offer an end-to-end system.

ICONIQ Growth’s Murali Joshi echoed that sentiment in a statement: “Statsig is committed to solving one of the most pressing challenges in modern product development. Their platform transforms how teams build and iterate, replacing guesswork with data-driven decision-making.”

With its new funding, Statsig plans to invest further in platform expansion, including deeper analytics, more integrations, and enhanced AI-driven insights. The company says it’s still early in its journey, but the direction is to become the default platform for data-driven product teams.

“We’re on a mission to change how people build products,” Raji said. “And we’re just getting started.”