What Indicative does

Indicative is a New York-based product analytics company founded in 2014 that built a cloud-based, no-code platform for behavioral and customer journey analytics. The platform's defining architectural choice is direct, native connectivity to customer data warehouses and lakes — Snowflake, Google BigQuery, Amazon Redshift, Amazon S3, Google Cloud Storage, and Firebase — allowing it to query event and user data in place rather than relying on a proprietary event-collection pipeline, which removes sampling and event-volume ceilings common to legacy product analytics tools. On top of the warehouse connection, Indicative offers an integrated set of modules: Multipath Funnel (concurrent visualization of multiple conversion paths with breakouts and optional steps), Customer Journeys (path discovery including paths to churn), Segmentation (event- and user-level analysis with unlimited filters and breakouts), Cohort Analysis (behavioral cohorting for retention), People Insights (individual user-level timelines), and Dashboards and Reporting (scheduled PDF reports, public sharing). SDKs and a REST API are available for JavaScript, iOS, Android, Python, and Java.

The company operates a hybrid go-to-market that combines a product-led, self-serve motion — a free plan with core features including cohort analysis and an in-app demo at app.indicative.com — with a sales-assisted enterprise motion for custom pricing and personalized demos. Revenue is generated through SaaS subscription contracts; pricing is quote-based and not publicly disclosed. Indicative targets three primary buyer personas (Product Managers, Marketers, Data Analysts) and has built vertical-specific solution pages for ecommerce, mobile apps, media & gaming, SaaS, and financial services. Named enterprise customers include Dow Jones, Prezi, GetYourGuide, INDOCHINO, Haven Life, TodayTix, Novus, 99designs, INWEGO, and Drops, and the company holds G2 leader designations in Customer Journey Analytics for both overall and mid-market segments.

In January 2022, Indicative was acquired by mParticle, a customer data platform, and the product is now sold as 'mParticle Analytics.' Following the acquisition, Indicative's standalone website continues to operate as a product line, pricing and login have been redirected to mparticle.com/app.indicative.com, and the company has continued to ship product updates through at least January 2024. The platform maintains GDPR compliance and is headquartered in the United States.

Name

Indicative

Legal name

Indicative

Website

https://indicative.com

Company type

Private

Founded year

2014

Operating status

Acquired

Headcount range

11–50 employees

Short description

Indicative (now mParticle Analytics) is a no-code product analytics platform that connects directly to data warehouses to deliver customer journey, funnel, cohort, and segmentation analytics for product, marketing, and data teams at enterprise and growth-stage companies.

Ownership category

akta.pro rank

Product category

Product Analytics Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Attribution, Measurement, Analytics & Incrementality (BPAMALAF)

akta.pro secondary industry

Performance Analytics, Attribution & Marketing Measurement (MPAAACAH)

Keywords

• Product analytics
• Customer journey analytics
• Cohort analysis
• Behavioral analytics
• Data warehouse integration

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription: Cloud-based SaaS product analytics platform with subscription-based pricing model. Offers free plan with basic features; paid tiers for advanced capabilities and enterprise needs.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Indicative is a cloud-based product analytics platform (now branded mParticle Analytics) that connects directly to customer data warehouses and data lakes to synthesize behavioral data without requiring SQL or coding. The platform offers multipath funnel visualization, customer journey mapping, segmentation, cohort analysis, people-level insights, and dashboards/reporting for product, marketing, and analytics teams across ecommerce, financial services, media, mobile, gaming, and SaaS verticals. It is delivered as a SaaS subscription with a free tier and quote-based enterprise pricing.

Product overview

Indicative is now mParticle Analytics - a product analytics platform that connects directly to data warehouses to provide actionable insights across the entire customer journey without requiring SQL or code. The platform consists of a core analytics engine with integrated modules including Multipath Funnel (for visualizing multiple conversion paths), Customer Journeys (for mapping behavioral flows), Segmentation (for audience analysis), Cohort Analysis (for retention insights), People Insights (for individual user timelines), and Dashboards and Reporting (for visualization and sharing). The platform supports native connections to major data warehouses (Snowflake, BigQuery, Redshift, S3, Google Cloud Storage, Firebase) and integrates with CDPs (mParticle, Segment) and analytics tools (Snowplow, Google Analytics, Google Tag Manager). Industry-specific solutions are offered for Ecommerce, Mobile Apps, Media & Gaming, SaaS, and Financial Services verticals.

Differentiator

Problem solved

Functional benefit

Products and services

• mParticle Analytics (formerly Indicative) Cloud-based product analytics platform for B2B product, marketing, and analytics teams that connects directly to data warehouses and data lakes to provide behavioral insights, journey analysis, segmentation, cohort analysis, and dashboards without requiring SQL or code.

Quantifiable outcome

• INDOCHINO achieved 10% jump in checkout completions after redesign based on Indicative funnel analysis
• +1 more outcomes

Named customers10 records

Segments8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• mParticlecoreStrategic or Co-development Partner · 1 January 2022mParticle acquired Indicative in January 2022 to accelerate customer data strategy. Indicative now operates as mParticle Analytics, combining Indicative's journey analytics capabilities with mParticle's customer data platform.
• SnowflakecoreTechnology or IntegrationNative integration partnership allowing Indicative to read data directly from Snowflake data warehouse.
• Google BigQuerycoreTechnology or IntegrationNative integration partnership enabling direct data connection from Google BigQuery.
• Amazon RedshiftcoreTechnology or IntegrationNative integration with AWS Redshift data warehouse for customer data analysis.
• Amazon S3coreTechnology or IntegrationIntegration with Amazon S3 for data lake connectivity.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Direct peers

• Amplitude: Direct competitor in product analytics, offering funnel, cohort, and journey analysis for product teams. Most comparable on feature set, target customer (PMs, marketers, analysts), and SaaS delivery model.
• Mixpanel: Direct competitor providing event-based product analytics with funnel, retention, and user journey views. Closely aligned on PLG motion, no-code interface, and SaaS subscription model.
• Heap: Direct competitor in product analytics with autocapture event tracking and journey analysis; now part of Contentsquare, giving it broader experience-analytics distribution against Indicative.
• Kissmetrics: Person-based product and marketing analytics platform with funnel and cohort analysis for SaaS and ecommerce. Competes directly with Indicative in mid-market behavioral analytics.

Emerging players

• Pendo: Product experience platform combining in-app guides, NPS, and product analytics. Overlaps on journey and adoption analytics but expands into in-app engagement, a capability Indicative does not natively offer.
• FullStory: Digital experience analytics combining session replay with behavioral analytics and journey mapping. Competes in customer journey analytics but emphasizes qualitative session data versus Indicative's warehouse-native quantitative focus.
• Hotjar: Behavior analytics tool offering heatmaps, session recordings, and feedback polls for product and UX teams. Overlaps in journey and behavioral insights but with a qualitative, SMB-leaning angle rather than warehouse-native analytics.

Broad incumbents

• Adobe Analytics: Enterprise-grade analytics suite within Adobe Experience Cloud offering journey, attribution, and segmentation. Overlaps with Indicative's analytics capabilities but is positioned for large enterprise martech stacks.
• Google Analytics 4: Free web and app analytics from Google with event-based data model and basic journey analysis. Represents a default incumbent that Indicative must displace, particularly in SMB and mid-market.

Others

• mParticle: Parent company and customer data platform that acquired Indicative in January 2022. Now bundles Indicative as mParticle Analytics, making it both parent and a complementary data infrastructure vendor rather than a true competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/getindicative
• Facebookfacebook.com/getindicative
• LinkedInlinkedin.com/company/indicative

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indicative