Industry-Leading Sales Enablement Platform Scoops $60 Million Series D

Industry-Leading Sales Enablement Platform Scoops $60 Million Series D

Sales Enablement platform is a key technology in the Sales ecosystem. Yesterday, Highspot announced that it has secured $60 million in Series D funding. ICONIQ Capital led the funding round, that included new investor, Sapphire Ventures, and all existing investors including Madrona Venture Group, OpenView, Salesforce Ventures and Shasta Ventures. The latest funding for the Sales Enablement Platform will allow the Company to focus on global expansion. This will bolster the current position as a Martech leader in the Sales Enablement category.

Highspot’s Hypergrowth Accelerates

At the time of this announcement, Highspot CEO Robert Wahbe, said, ‘Enablement is the new customer battleground. Sales technology is moving toward a system of intelligence and collaboration. Now, more than ever, customer-facing teams need a system of truth for Content and Guidance. This is Highspot. We make our users trusted advisors to their customers, which is a real competitive advantage’.

The funding comes during a period of explosive company growth, with the strong performance prompting the lease of Highspot’s new headquarters – a 55,000-square-foot space near the Seattle waterfront. The company will keep its existing Seattle offices, giving it capacity for 800 employees. Highspot also launched its EMEA operations earlier this year with the opening of its London headquarters.

 

Highspot continues to earn global recognition as both a top product and workplace. London’s Sales Innovation Expo presented Highspot with the Best Sales Enablement Platform award, and the Stevie® Awards recognized Highspot as a winner for the Customer Service Department of the Year. Highspot was also named to Glassdoor‘s 2019 Top 10 Best Places to Work and LinkedIn’s Top 50 Startups lists, among others.

As of now, Highspot’s revenue, customer base, existing customer expansion and employee count are all more than doubling year-over-year. Today, hundreds of companies are using the Highspot platform to empower customer-facing teams and partners, elevate the customer experience, and ultimately, accelerate revenue growth.

Defining Modern Sales Enablement

What modern Sales Enablement platform do?

Modern Sales Enablement Platforms are expected to do these activities for the Marketing and Sales teams:

  1. Prepare Sellers
  2. Engage Buyers
  3. Optimize Content Performance

The Highspot solution is powered by the category’s only patented Artificial Intelligence and Machine Learning technology. Sellers and marketers are armed with differentiating capabilities including:

  • The first-of-its-kind approach to B2B Content Management where content is organized in Spots™ instead of a traditional file and folder structure
  • The ability to create dynamic, mobile-ready sales playbooks and customize seller and buyer experiences using SmartPages™
  • Intelligent Content Recommendations, Semantic Search and Deep Analytics powered by AI
  • A broad range of technology integrations with leading products including Salesforce and Slack

Today, Highspot uses patented AI technology to bring Search Recommendations, Predictive Intelligence, and Sales Analytics to Sales Enablement practices.

Why is Sales Enablement Technology Key to Marketing and Sales?

Despite tremendous growth in Marketing and Sales Automation, teams continue to build a uniform vision on which content would help both the departments. In short, the gap between Sales and Marketing remains a tough challenge; something that traditional marketing technologies have failed to reconcile.

SiriusDecisions reports, “65 percent of content produced by marketing for use by sales is never utilized.”

How does Highspot Make Sales Enablement Effective?

Highspot is uniting Sales and Marketing in delivering personal, relevant customer conversations. Highspot’s platform combines sophisticated Machine Learning and intuitive user experience to define modern Sales Enablement.

According to Gartner research: “By 2021, 15 percent of all sales technology investments will be applied to sales enablement technology, up from the 2017 level of 7.2 percent.”

“Highspot epitomizes our focus on clear product leaders that can make a global impact,” said ICONIQ Capital General Partner Matthew Jacobson, who is joining Highspot’s Board of Directors.

Matthew added, “They are poised to capitalize on several powerful trends including the growing importance of Sales Enablement as a critical pillar of the modern sales and marketing technology strategy.”

Currently, Highspot gives businesses a powerful sales advantage to engage in more relevant buyer conversations and achieve their revenue goals. Through AI-powered search, analytics, in-context training, guided selling, and a broad range of technology integrations, the Highspot platform delivers enterprise-ready Sales Enablement in a modern design that sales reps and marketers love. With 90 percent average monthly recurring usage and global support in 125 countries, Highspot is the highest-rated solution on G2 Crowd, Microsoft Store, Google Play and Apple AppStore.

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