Apollo.io Raises $32M in Series B Funding to Make B2B Sales Prospecting More Intelligent, Automated and Accessible
With more than 1 million user sign ups to date, latest investment will fuel marketing, engineering, and product development
Apollo.io, the leading go-to-market acceleration platform for B2B companies, raised $32M in a Series B funding round led by Tribe Capital, with participation from NewView Capital and existing investor Nexus Venture Partners. The funding follows a successful 12 months for the company during which it grew its user base by more than 200 percent and maintained profitability for more than 18 months.
With the capital in hand, Apollo.io plans to expand its product and engineering teams to refine its category-leading technology; Apollo uses advanced algorithms and unique data acquisition methods to help sales professionals access extremely accurate and affordable prospecting and sales data with maximum coverage. The round will also enable the company to expand its client base of mid-market and enterprise clients with further investments in sales, marketing and operational resources, including new leadership hires.
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In tandem with the funding round, Sri Pangulur, partner at Tribe Capital, joined Apollo.io’s board.
“Apollo is challenging the status quo in B2B lead intelligence and sales engagement by making contact data and prospecting tools in this space more accessible,” said Pangulur. “Seeing the company’s incredible growth over the past year, enhanced product offerings and new client acquisitions, we are confident in Apollo’s ability to disrupt the sales tech market for B2B companies, offering a more intelligent, more cost-effective and simpler solution.”
Over the past year, Apollo.io tripled its revenue, amassed more than 1 million new users, increased its weekly active users by more than 400%, and remained profitable for 18 consecutive months. The company currently has nearly 9,000 paying customers – from rapidly growing startups to Fortune 500 companies. Over the same 12 months, the company released major product updates, including an international dialer, improvements to the depth of its contact and account intelligence, a sophisticated automated prospecting engine, and a revamp to bring these enhancements to the very popular Apollo.io LinkedIn extension.
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“Sales professionals at B2B companies are burdened by a go-to-market process that’s manual, tedious and complex. It’s stifled by convoluted workflows, very little guidance, lengthy onboarding and high price tags for name-brand solutions,” said Apollo.io Co-Founder and CEO Tim Zheng. “This funding will help us further accelerate our product-led growth model, which has seen tremendous success in the contact data space.”
“Apollo’s vision is to give its customers the most powerful and intelligent GTM platform in the industry, so they can reach their full market potential,” said Zheng. “We want to make access to B2B data even easier, while enhancing the data with sales intelligence and automated workflows.”