SalesLoft, a leading Sales Technology platform has announced it has secured $70 million in Series D investment. This funding its total funding to $145 million. Insight Partners led the round with participation from HarbourVest Partners, joining prior round investors Emergence Capital and LinkedIn. Insight Partners also led the company’s C round.
In recent years, the company has quickly emerged as the Sales Engagement category leader, growing recurring revenue by more than 1000% over the last three years. SalesLoft expanded its team to nearly 400 employees and earned many accolades for its growth and values-driven culture, including:
- #1 Sales Engagement Platform and Category Leader by G2Crowd and named on their Best Products for Sales 2019 list
- The #1 Best Place to Work in Atlanta 2 years in a row
- Best Company Outlook by Comparably
- The 7th Fastest-Growing Technology Company in North America by Deloitte
Further, The Total Economic Impact™ Of SalesLoft, a February 2019 commissioned study conducted by Forrester Consulting on behalf of SalesLoft, found that organizations using SalesLoft to generate more pipeline and improve the customer buying experience could obtain a return on investment (ROI) of up to 329% over three years. The study also revealed that organizations that use the SalesLoft platform to create a personalized, scalable, and consistent go-to-market process across a sales organization could expect to receive $7.2 million in value over three years, with a payback period of less than six months.
“This investment allows us to expand globally and drive innovation in the sales engagement category,” says Kyle Porter, Co-Founder and CEO, SalesLoft.
Kyle added, “Our commitment is to continue to help our customers deliver better buying experiences for their customers, make their sales teams more effective and efficient, and generating the most revenue.”
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The company will use the funds to scale SalesLoft’s business both domestically, where the company has offices in Atlanta, San Francisco, and New York, as well as internationally. The company recently announced the opening of its first European office in London.
“We partnered with SalesLoft because of their customer-centric approach to selling,” said Jim Steele, President and CRO of Yext.
Jim added, “SalesLoft has had a huge impact on our revenue growth and dramatically improved the selling experiences we provide our customers. SalesLoft is core to how we work; we couldn’t do our jobs without it.”
According to The Forrester Tech Tide™: Sales Technologies, Q4 2018, sales engagement platforms, of which SalesLoft is included, “drive efficiency, productivity, and most importantly, results.” The report went on to note that sales engagement platforms “empower sales organizations to reach more customers with automated and recommended engagement activities across channels and to focus on the right deals and interactions based on engagement trends from similar customers.”
The company will apply this additional investment across all business functions but will focus primarily on category innovation, customer success, and building a global community.
“Since inception, SalesLoft has continually innovated, pushed the boundaries, and worked towards changing the face of sales,” said Jeff Horing, Co-Founder and Managing Director, Insight Partners. “We are thrilled to continue our partnership with SalesLoft and join together in their mission to improve selling experiences across the world.”
This latest investment comes 12 months after the company announced its $50M Series C. In that time, the company has increased revenue by more than 100% and significantly expanded its platform with mobile, machine learning, and advanced reporting, as well as integration with two additional CRM platforms, Microsoft Dynamics and SAP Cloud for Customer.
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How is SalesLoft Different?
In his blog, Kyle said, “In the search for a Sales Engagement partner, we offer differences which are critical to the strategies of our customers.
The differences start with our purpose.
SalesLoft exists to activate the authentic seller in all of us. While some focus on simply sending more email, we focus on elevating the sales professional as a whole. Today’s buyers deserve an incredible sales experience… one that is sincere, human, and relevant to their needs. They want sellers to provide insights and solve their problems. It’s essential for sellers to take a buyer-centric approach. This is the heart of what we do.
Great sellers also need to be methodical and efficient. At SalesLoft we’re dedicated to helping you codify a scalable and effective sales process so you can consistently hit and exceed your targets.
Operationally, customers choose us for:
- Reliability – SalesLoft is proven to provide better results for email deliverability, phone quality, and application speed.
- Adoption – Our ease of use and in-app experience across all types of users is consistently cited in win reports and on G2 Crowd.
- Impact – SalesLoft is the only all-in-one solution, including conversational intelligence, which raises both the activity and effectiveness of every rep on your team.”
Measuring Impact
Creating value is our ultimate measure of customer success. It’s why we get up every day. While we’ve collected many positive stories from customers, we wanted to quantify it for the market. We commissioned a study conducted by Forrester Consulting to assess the Total Economic Impact of SalesLoft and how companies who use the SalesLoft platform can achieve:
- 329% return on investment
- 2x increase in top-of-funnel sales prospecting activity
- 2.5x increase in response rates
- 20% increase in sales-qualified leads to opportunity conversion rates
- 13% improvement in customer renewal rates
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The Future: Sales Coaching Network
Imagine a world where every seller has a full-time digital assistant at their side. The Sales Coaching Network gathers data from our network of distributed sellers and identifies what works and what doesn’t. It acts as a real-time, on-the-job coach, guiding sellers to successful outcomes.
This system learns best practices, proven effective across a variety of situations. It identifies those outlier cases where a creative seller finds a new, better solution, and adds those techniques to its coaching. This allows others to learn from the experience of those more creative sellers.
Rather than dispensing “one-size-fits-all” advice, the network offers coaching that’s uniquely tailored to each seller and the activities they’re doing at any given moment.
The Sales Coaching Network brings out the best in every authentic human-to-human interaction. Sales can never be fully automated, but machines can coach humans in ways that improve our ability to deliver the customer with the best sales experiences while making decisions that allow them to generate the most revenue.
This is the future of sales. You can count on us to deliver it.
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