Outreach, the largest sales engagement platform with industry-leading usage announced it has closed a $50 million funding round. This new round of funding comes at a time when funding has been more difficult to come by and many startups are experiencing challenges fundraising. Outreach remains the only unicorn in the rapidly growing sales engagement category.
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“The pandemic has changed sales forever and brought to the forefront the importance of having a sales engagement platform. Products like Outreach that provide high visibility and versatility — are now required for all sellers in order to be successful,” said Manny Medina, CEO and co-founder of Outreach. “As the Sales Engagement category leader, customers expect Outreach to drive transformative changes in sales. With this round of funding, we’re excited to accelerate our investments to meet the increasing demand we are seeing in the market while continuing to innovate.”
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This funding round is led by Sands Capital with participation by Salesforce Ventures. In addition, new investor Operator Collective will be joining existing investors which include Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield, and Sapphire Ventures. This round brings Outreach’s valuation up to $1.33 billion and total funding to $289 million.
“Outreach’s leadership position in the market, clear mission, and value-added approach make the company a natural investment choice for us,” said Michael Clarke, partner at Sands Capital’s Global Innovation Fund. “Now more than ever, companies need an AI-powered sales engagement platform like Outreach. Enterprise sales teams are rapidly adopting sales engagement platforms and Outreach’s rapid growth reflects this.”
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