Company to Deliver AI And Open Platform In Response To Rising Market Demand For Its Sales Engagement Platform
SalesLoft, the sales engagement platform on a mission to help authentic sellers deliver the best sales experience, announced it has raised $50 million in its Series C round, bringing total funding to $75 million. Insight Venture Partners led the round with participation from LinkedIn, and Series A and B investor Emergence Capital.
In recent years, the company quickly emerged as the sales engagement category leader, growing sales by more than 800 percent in the past two years alone, and being named the 7th fastest-growing technology company in North America by Deloitte. Along the way, SalesLoft expanded its team to more than 220 employees and has built a company culture that has earned it recognition as the #1 best place to work in Atlanta. The growth and accolades are the results of the relentless platform innovation which balances the authentic, human side of sales with the scalable, scientific side.
“Things have gotten very noisy for buyers these days. They are bombarded with sales activity via phone, email, social, and many other channels. When buyers are able to peel away from those distractions, they still have problems to solve — and an overwhelming range of solutions to sift through. Now more than ever, buyers really need sellers who can rise above all this noise and provide them with a better sales experience — through our product innovation and our people, it’s our mission to help sellers do just that,” said Kyle Porter, Co-Founder and CEO, SalesLoft.
Looking ahead, the company will continue platform innovation, including the highly anticipated launch of its SalesLoft Assist offering, the category’s first true artificial intelligence (AI) capability — which is informed by more than 500 million sales interactions, providing users with dynamic and real-time suggestions. SalesLoft has opened its platform and plans to aggressively expand its developer community and partner ecosystems, including a recently launched app marketplace of more than 30 available integration providers.
One popular integration option on its sales engagement platform is through LinkedIn’s Sales Navigator, where SalesLoft is one of the top partner integrations of LinkedIn’s Sales Navigator Application Platform (SNAP).
“SalesLoft is one of the most innovative companies in the sales engagement category and a leading provider on the Sales Navigator Application Platform. SalesLoft has integrated Sales Navigator into their application in a way that provides great user value while protecting LinkedIn member data. We look forward to working with SalesLoft to create even more value for our joint customers in the future,” said Doug Camplejohn, VP of Product, Sales Solutions, LinkedIn.
With this new investment and innovation, SalesLoft plans to add over 200 employees across its Atlanta headquarters, San Francisco, New York, and Europe. The company intends to continue developing innovative solutions for its commercial and enterprise customers.
SalesLoft has more than 2,000 customers — including Square, Cisco, MuleSoft, Alteryx, and Dell — who have boosted sales by delivering better experiences to their customers. SalesLoft recently shared the results of a study where it analyzed customer performance 90 days prior to and 90 days following their implementations and found an average of a 36 percent increase in opportunities created.
“We didn’t create the sales engagement category; our customers did. They weren’t satisfied with the tools their teams had to connect and engage buyers. They made their needs clear, and we listened. As a result, sales engagement has evolved from a point solution to the system of record for sales organizations. Users are spending more time within SalesLoft than any other technology, including their CRM. Our customers are leading the way in this exciting new category, which is really just a reflection of their efforts to serve their customers in new, authentic ways,” adds Porter.
“Sales engagement has emerged as the fastest-growing area in the sales and marketing stack. And for good reason: it works. SalesLoft consistently helps customers increase their pipelines, but also strengthen their relationships with buyers — that’s a huge differentiator. We’re looking forward to partnering with SalesLoft on their mission to activate authentic sellers and help them deliver better sales experience for the customers they serve,” said Jeff Horing, Co-Founder and Managing Director, Insight Venture Partners.
This latest investment comes 15 months after the company announced its $16M Series B. In that time, the company has increased annual recurring revenue by over 150% and significantly expanded its platform in four primary areas: automated workflows, CRM integration, connected apps, and enterprise security.