After rapid growth over the last several years, Rallyware, the leading provider of outcomes-based Performance Enablement solutions for enterprises with distributed teams, has announced that it has raised $22 million from PeakSpan Capital to further invest in platform innovation.
Rallyware, the leading provider of outcomes-based performance enablement solutions for enterprises with distributed teams across the globe, today announced that it has raised $22 million from PeakSpan Capital. Rallyware has experienced rapid growth over the last several years with strong capital efficiency. In order to satisfy the immense demand from enterprise organizations for its solution, Rallyware intends to use the proceeds from the financing to further invest in platform innovation driven by artificial intelligence, as well as expand its team across several functional groups.
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The sales enablement category has experienced explosive growth in recent years, buoyed by significant investor interest, which has led to a rapid increase in new startup activity and a notable rise in the number of software tools being used by enterprise sales teams today. The average enterprise organization now uses 69 cloud-based tools for CRM/sales (up over 60% from 43% two years prior), highlighting a clear trend towards the testing and implementation of data-driven, software-enabled strategies and tactics for sales.
Enterprises now leverage technology to capture, analyze, and interpret massive volumes of data related to every element of the sales process and each activity performed by a given rep, surfacing predictive insights that can inform changes to the sales process. However, the proliferating number of tools and vendors that businesses are using to support technology-enabled strategies has created a convoluted technology stack comprised of dozens of disparate solutions, which can be a challenge to manage.
“No Head of Sales today is saying, ‘I just wish another SaaS vendor would pitch me a sales enablement platform,’” said George Elfond, Co-Founder and CEO of Rallyware, adding, “As the ecosystem of vendors offering tools in the space has burgeoned, revenue leaders are not looking to blindly introduce more technology into their workflow, but rather are now focusing on leveraging strategic data-driven platforms that seamlessly integrate to drive clear, tangible impact and deliver better outcomes. We have the privilege of working with some of the largest companies in the world, and we are very proud of the 24X average ROI and strategic value that we have delivered for them.”
Rallyware’s platform works to drive impact and influence change to improve the sales process across a variety of areas, by creating personalized paths to success for every team member. Customers leverage the platform for a variety of use cases, including boosting sales rep productivity, decreasing ramp time for new hires, promoting CRM adherence, increasing partner engagement, and more.
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“The combination of real-time incentivization and personalized engagement paths support the behavior change required to transform theoretical insights into actual operational benefits. Rallyware’s platform has been purpose-built to improve the effectiveness of enterprise go-to-market organizations. The experience and data that we have accumulated over time working with our customers, combined with knowing how to drive and measure impact, is incredibly valuable and cannot be replicated overnight. Over time, we have architected those key learnings into the platform to ensure all customers receive the benefit,” said Mykhaylo Kostandov, Rallyware’s Co-Founder and CTO.
Rallyware focuses on large enterprise organizations and currently has customers in more than fifty countries globally, including Samsung, Avon, Tupperware, Vonage, NuSkin, and many others.
“Sales will always be part art, part science, but the impact that software and the intelligent application of data has had on the sales function is undeniable,” commented Matt Melymuka, Co-Founder & Partner at PeakSpan Capital. “What’s interesting is that even if you can produce data that shows a given tactic or activity should be more effective than another, it can still be hard to influence the behavior change required to operationalize that insight and get value from it. Without providing clear, direct incentivization to change, the sales rep has no reason to do so. Rallyware bridges that gap by incentivizing individuals to pursue specific actions that align with the broader objectives of the organization. This model creates a mutually beneficial dynamic, which delivers tangible improvements in a short period of time.”
Rallyware was founded in 2012 and currently has more than 80 FTEs globally with headquarters in Mountain View, CA and offices in five countries.
