Maze's Series B and the future of product research

Today, we’re excited to announce that we have raised a $40 million Series B round led by Felicis’ Victoria Treyger with participation from existing investors Emergence, Amplify, Partech and Seedcamp. In addition, strategic partners Atlassian Ventures, Zoom Ventures, and HubSpot Ventures joined the round, as well as angel investors Anne Raimondi, COO at Asana, and Justin Bauer, CPO at Amplitude. The Series B round follows just 12 months after Maze’s Series A, bringing our total funding to $60 million.

This round is a big milestone for us. Just four years ago, we embarked on an uncertain journey as a small team of four to build the first version of Maze. Now, we’re an amazing team of 130+ people spread across 35 countries, building the future of product research together. More than anything, this funding is a validation of our vision and the way we’re reimagining the future of product research. It’s incredible to see the support from investors, the Maze team, and our customers in building a faster, more integrated way of doing product research.

Find out more about what this funding means for Maze.

Finding the right partners is never easy, especially ones who share the same vision. When we started our conversations with Felicis, we immediately knew they were the right partner to support the next step of our journey. They invested in some of the most innovative companies, such as Notion and Canva, and led the seed round for Dovetail, reinforcing their passion for the product research space.

"Maze is at the center of three critical trends: the rapid pace of product innovation, the growth of the design economy, and the power of customer experience as a critical differentiator. Maze’s best-in-class revenue growth, customer logos, and the efficiency of that growth speak to the fact that every company across every industry needs asynchronous and automated user testing to power their product development. We're thrilled to lead the B in Maze and to join the company’s board," said Victoria Treyger, General Partner and Managing Director at Felicis Ventures.

As part of this round, we also brought new strategic partners on board that we believe will help us reimagine the product research space: Zoom Ventures, Atlassian Ventures, and HubSpot Ventures.

These new partners will enable us to build new workflow solutions to empower product teams to collaborate further when sourcing participants, collecting user insights, or sharing results across the organization.

Additionally, we’re welcoming two new operating partners, Anne Raimondi, COO at Asana, and Justin Bauer, CPO at Amplitude, who will help us in our next stage of growth.

We’re incredibly excited about the opportunity to work with such household names, and we look forward to what’s to come.

With the rise of product-led growth, product development teams have taken center stage in many organizations. Yet, building the right product with existing research practices is still hard and costly.

Product-led companies are under pressure to quickly ship user value, often leaving little time to do product research to make informed decisions. Launching without testing solutions can be a detrimental mistake and cost up to 100x more than validating them pre-development.

This is why Maze is changing the way product teams collect user insights.
To truly build user-centric products, teams need to collect insights throughout the entire product development process—from idea to launch. Traditionally, this has been challenging due to slow and expensive research practices and the under-resourcing of research functions.

“For companies to truly grow and retain their revenue, they need to keep their customers at the center of both product and go-to-market decisions—always optimizing for end-user value. Collecting user feedback through Maze is a powerful way to do that. At HubSpot, we're inspired by Maze's ability to centralize workflows to better understand customers' goals and needs, and we're excited to support their success in our ecosystem," said Brandon Greer, Head of HubSpot Ventures.

Maze has reimagined traditional research by empowering anyone in a product team to test and learn rapidly. Product teams can collect user insights anytime with our versatile tools, from prototype tests, surveys, and card sorting to 5-second tests. With Maze, product teams can speed up their research 10x and ship value faster and more often.

“Atlassian is powering how products are being built and Maze is building the validation layer allowing teams to get the insights they need to build better products. We see an incredible opportunity for our companies to create the future of product discovery together,” said Matt Sonefeldt, Head of Atlassian Ventures.

Our recent launch of Reach, a new participant management solution, is the next step toward reimagining the future of product research. Reach is the first integrated tool that enables users to curate their own database of research participants, send Maze research studies via email campaigns, and collect user insights in one platform. Think CRM, just for product research.

With seamless integrations with leading design platforms, like Figma, a versatile suite of research tools, and a new participant management solution, we’re proud to be paving the way to a faster, more integrated way of doing product research.

“The number of digital products launched every day is growing exponentially, yet most product creators still over-rely on intuition and don’t consistently integrate customer feedback into how they build products. I’ve seen firsthand the power of democratizing quantitative understanding of user behavior through product analytics and believe Maze has the same opportunity to do that for product research,” said Justin Bauer, CPO at Amplitude and Angel Investor of Maze.

The funding will be used to develop new solutions, including further investments in Reach, that will help solve for new use cases along the entire product development process. We’re planning to invest in new product solutions, workflow integrations, and more advanced features to help democratize product research across larger organizations.

To make all of this happen, we’re looking for incredible talent to join our team. If you’re excited by the future of product research and want to help us build it, check out career opportunities at Maze.

We’d like to thank our incredible community that has supported us throughout this amazing and wild journey. We’re looking forward to building the future of product research with you!

Jo & Thomas