Funding to Help Gong.io Fuel Growth in Collaboration and Communication Markets
Gong.io, the market leader in Conversation Intelligence for sales teams, announced that it has received an investment from Cisco Investments in an extension of its A1 funding round.
“We’re thrilled to have Cisco Investments join Gong as an investor,” explained Amit Bendov, Gong.io CEO. “Cisco Investments’ involvement will help fuel our continued growth and expedite our penetration into the collaboration and communication markets. We can’t wait to utilize immediate opportunities this investment creates and we’re confident even more exciting future opportunities lie ahead of us.”
“Cisco Invests in companies that capture major market transitions,” said Rob Salvagno, vice president of Corporate Development and Cisco Investments. “Gong’s introduction of contextual and action-driven artificial intelligence specifically tailored for sales conversations represents a major overhaul in the way companies engage with customers, and augments collaboration tools to make them more valuable to businesses.”
Gong.io will make its debut appearance at the Cisco Live conference starting June 10th in Orlando, FL.
In June 2017, Gong.io had announced a $20 Million Series A1 funding round, led by existing investors Norwest Venture Partners (NVP) and CheckPoint Co-Founder Shlomo Kramer. They were joined by new investors Wing Venture Capital and NextWorld Capital. The announcement added that Peter Wagner, Founding Partner at Wing Venture Capital, and Ben Fu, General Partner at NextWorld Capital, would be joining Going.io as Board Observers.
Speaking of their investment, Dror Nahumi, General Partner at Norwest Venture Partners, had said, “We have been very impressed with Gong.io’s rapid growth and stellar execution of their original vision and we are thrilled to increase our investment. Gong.io is taking a strong lead in a whitespace category that will grow.”
Wagner added, “The conversations a company has with its customers are strategic data assets that have been untapped for far too long. For the first time, Gong.io turns these customer conversations into productive intelligence resources with profound implications across the enterprise.”
Fu also said that they saw Conversation Intelligence as the future of AI-powered sales and “We’re excited to help Gong.io dominate this new enterprise category around the globe.”
Gong.io helps sales teams generate more revenue by having better sales conversations. Gong automatically records, transcribes and analyzes every sales conversation so you can replicate successful sales conversations, coach your reps, and ramp new hires faster.