SalesLoft Raises $70 Million Series D to Fuel Growth
Brings total funding to $145 million, extending the company's lead as #1 Sales Engagement provider
ATLANTA, April 25, 2019 (Newswire.com) - SalesLoft, the provider of the #1 sales engagement platform, today announced it has secured $70 million in Series D investment, bringing its total funding to $145 million. Insight Partners led the round with participation from HarbourVest Partners, joining prior round investors Emergence Capital and LinkedIn. Insight Partners also led the company’s C round.
In recent years, the company has quickly emerged as the Sales Engagement category leader, growing recurring revenue by more than 1,000 percent over the last three years. SalesLoft expanded its team to nearly 400 employees and earned many accolades for its growth and values-driven culture, including:
- #1 Sales Engagement Platform and Category Leader by G2Crowd and named on their Best Products for Sales 2019 list
- The #1 Best Place to Work in Atlanta two years in a row
- Best Company Outlook by Comparably
- The 7th Fastest-Growing Technology Company in North America by Deloitte
Further, The Total Economic Impact™ Of SalesLoft, a February 2019 commissioned study conducted by Forrester Consulting on behalf of SalesLoft, found that organizations using SalesLoft to generate more pipeline and improve the customer buying experience could obtain a return on investment (ROI) of up to 329% over three years. The study also revealed that organizations that use the SalesLoft platform to create a personalized, scalable and consistent go-to-market process across a sales organization could expect to receive $7.2 million in value over three years, with a payback period of less than six months.
“This investment allows us to expand globally and drive innovation in the sales engagement category,” says Kyle Porter, co-founder and CEO, SalesLoft. “Our commitment is to continue to help our customers deliver better buying experiences for their customers, make their sales teams more effective and efficient, and generate the most revenue.”
The company will use the funds to scale SalesLoft’s business both domestically, where the company has offices in Atlanta, San Francisco and New York, as well as internationally. The company recently announced the opening of its first European office in London.
"We partnered with SalesLoft because of their customer-centric approach to selling," said Jim Steele, president and CRO of Yext. "SalesLoft has had a huge impact on our revenue growth and dramatically improved the selling experiences we provide our customers. SalesLoft is core to how we work; we couldn’t do our jobs without it."
According to The Forrester Tech Tide™: Sales Technologies, Q4 2018, sales engagement platforms, of which SalesLoft is included, “drive efficiency, productivity, and most importantly, results.” The report went on to note that sales engagement platforms “empower sales organizations to reach more customers with automated and recommended engagement activities across channels and to focus on the right deals and interactions based on engagement trends from similar customers.”
The company will apply this additional investment across all business functions but will focus primarily on category innovation, customer success and building a global community.
“Since inception, SalesLoft has continually innovated, pushed the boundaries and worked towards changing the face of sales,” said Jeff Horing, co-founder and managing director, Insight Partners. “We are thrilled to continue our partnership with SalesLoft and join together in their mission to improve selling experiences across the world.”
This latest investment comes 12 months after the company announced its $50 million Series C. In that time, the company has increased revenue by more than 100 percent and significantly expanded its platform with mobile, machine learning and advanced reporting, as well as integration with two additional CRM platforms, Microsoft Dynamics and SAP Cloud for Customer.
SalesLoft is the #1 sales engagement platform, helping sales organizations deliver a better sales experience for their customers. More than 2,000 customers use the company’s category-leading sales engagement platform to engage in more relevant, authentic and sincere ways, including Facebook, MuleSoft, Square, WeWork and Zoom.
Headquartered in Atlanta, SalesLoft has additional offices in San Francisco, New York, London and Guadalajara, Mexico. SalesLoft has more than 375 employees and was recognized as the #1 best place to work in Atlanta for the second year in a row. The company was also named the 7th Fastest-Growing Technology Company in North America by Deloitte and recently hailed by The New York Times as a start-up that "may be the next unicorn ... on a path to a $1B valuation."
For more information on SalesLoft and how to deliver a better sales experience, visit http://www.salesloft.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.