MindTickle, the leader in Sales Readiness technology, today announced it achieved tremendous growth, customer acquisition and engagement, and technological milestones in 2020. These achievements prove that readiness has become a strategic priority for enterprise organizations focused on driving revenue growth in 2021 and beyond.
MindTickle doubled the number of Fortune 500 and Forbes Global 2000 organizations it counts as customers while also expanding its global workforce throughout the year. In addition, customers dramatically increased their usage of the platform. Most notably, MindTickle’s raise of $100 million in funding led by Softbank Vision Fund 2 along with being ranked the #1 for Enterprise Software Product by G2 for the second year in a row underlined the strategic importance of sales readiness and our category leadership.
Business Momentum
In 2020, MindTickle doubled the number of Fortune 500 and Forbes Global 2000 it counts as customers. MindTickle now counts six of the top 20 health and life sciences companies, six of the top 20 technology companies globally and three of the top 20 US insurance companies as customers. In addition, 9 out of every 10 enterprise customers across industries expanded the scope and scale of their workforce readiness programs in MindTickle including onboarding, remote upskilling, ongoing learning, coaching and reinforcement. This resulted in an industry-leading net retention rate of 155%.
To further support our customers’ success, MindTickle raised $100 million in funding in November of 2020 with new investor Softbank Vision Fund 2 leading the round with Norwest Venture Partners, Canaan, NewView Capital and Qualcomm Ventures also participating. The funding coupled with MindTickle’s continued focus on acquiring top talent to support product innovation and customer readiness initiatives has propelled the business forward. Over the last two years, the new hires contributed to a 63% growth rate in the employee base.
Continued Innovation In Supporting Remote Readiness Drove Adoption and Engagement
In 2020, organizations used MindTickle to ensure that all customer-facing employees had the right capabilities and behaviors needed to drive revenue growth. MindTickle released numerous innovations to maximize seller and customer-facing performance in virtual environments. This led to unprecedented adoption and engagement on the platform with MindTickle’s remote and ready programs engaging more than 360,000 users. The platform delivered a 150% increase in micro-learning assignments, 20 million knowledge check questions, 560,000 hours of video consumed, 641,000 certifications granted, and 353,000 role-play exercises.
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MindTickle announced a number of product capabilities, services offerings and ecosystem partnerships:
- New Readiness Dashboard that boosts sales rep adoption, engagement and improvement with role and industry-specific content seamlessly integrated with skill developing exercises and coaching opportunities.
- Model Pitch and other AI-enhancements to Missions virtual role-play for remote skills development.
- Content Authoring Collaboration that allows MindTickle admins to facilitate and streamline collaboration with subject-matter experts (SMEs) to create engaging content for sales enablement and readiness programs.
- Comprehensive global services offering and content partnerships that help customers succeed in the remote environment.
- Strategic partnerships with leading providers of sales training and methodology including SalesSparx, the Menemsha Group, Sandler Training, the Ken Blanchard Companies, Performance Solutions International (PSI), and Halifax Consulting.
“Revenue leaders are focused on low ramp-time and high productivity. The readiness of every quota carrying rep is mission-critical,” said Nishant Mungali, chief product officer and co-founder of MindTickle. “Our focus in 2020 was to deliver personalized experiences for every new or tenured rep that boosts adoption, engagement and measurable improvement. For enablement professionals, we’ve worked to create workflows, templates and best practices to power successful programs. New AI-enhancements help sellers become more effective by identifying knowledge and skill gaps critical to effective customer interaction while reducing manager workload to identify opportunities for coaching and skills development.”
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