Riding a new wave of growth, analytics startup, Mixpanel has raised a staggering $65 million in new funding, raised entirely from existing investor Andreessen Horowitz at a $865 million post-money valuation. Mixpanel CEO Suhail Doshi said he aims for his products to be richer than Google Analytics and easier to grok than Omniture, while measuring modern things like engagement instead of old-school page views. Mixpanel has both Web and mobile products, and is used by companies like Path, Viddy, Socialcam, Jawbone and Airbnb.

Mixpanel was incubated by Y Combinator and launched in 2009. As Doshi delineates it, the company decided a year later to make "a big bet" by focusing primarily on mobile. The technology of the company works with websites too, but Doshi said the mobile focus gave Mixpanel an edge over the big players in analytics, who were slow to respond to the new opportunity.

Now, equipped with new funding, the company is looking to spend it in a few specific ways. First, it wants to make some acquisitions, especially in the machine learning space. The company is also looking forward to build an R&D team to enhance their amenities. Lastly, Mixpanel wants to expand into new markets. Doshi shared that the company is already interested in applying data science to sales and finance in addition to continuing to build out its marketing tools, which he believes have so much more territory to explore.

it analyzes 34 billion actions every month. That is primarily based on growth in usage of existing customers' products, but also because of new customers joining.