Highspot, which is a Seattle, WA-based sales enablement platform for sales reps, has now revealed that they have raised an amount of $35m in the funding round of Series C. The round, which brought total funding to date to $64m, and was led by some of the new prominent investors which include the OpenView with participation from Madrona Venture Group, Salesforce Ventures, and Shasta Ventures. In conjunction with the funding, Blake Bartlett, a Partner at OpenView, will join Highspot’s Board of Directors. The company has a plan to use these funds to accelerate market expansion.
The Seattle-area startup aims to help make salespeople more efficient, which also helps in equipping its users with the help of an artificial intelligence-infused technology to improve how they have conversations with prospective buyers. Its “sales enablement platform” is a sales playbook of sorts, analyzing hoards of internally-produced information — historical data; marketing presentations; case studies; data sheets, etc. — and then applying AI to optimize the selling process. Highspot also provides communication and analytics tools.
“This whole category has gone from ‘should have to ‘must have,'” Wahbe said. “It’s now a competitive necessity.”
Wahbe said advancements with mobile, cloud, and AI technology have helped Highspot grow its user base by 300 percent in the past year. Its customers range in both size and industries including software, financial services, manufacturing, and life sciences. Wahbe, who co-founded Highspot in collaboration with the Oliver Sharp and David Wortendyke, added that modern buyers have more information than ever.
“They are more sophisticated and educated; more complex, and more demanding,” he said. “They are used to a great consumer experience. Sellers have to address that.” “Highspot has built a sales enablement solution that is vital to a seller’s daily workflow,” Blake Bartlett, partner at OpenView, told GeekWire. “Highspot’s product creates alignment between marketing and sales teams by surfacing the best content to sellers through powerful search technology.”
As of now, the Highspot raised an amount of $15 million Series B round in the month of June 2017. The company as of now is not yet profitable and is investing in growth, Wahbe said. The startup has a team of around 100 people and expects to double its headcount over the next year while expanding its footprint in Europe and Asia.
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