- Enterprise customer intelligence Databook announced it has raised $16 million in Series A funding. These are the details.
Enterprise customer intelligence Databook announced it has raised $16 million in Series A funding led by M12 (Microsoft’s venture fund) with participation from Salesforce Ventures and seed investors Threshold Ventures, Haystack and Firebolt. And the new capital follows a seed round raised in January 2020 and brings Databook’s total investment to date to $22 million.
Since being founded, Databook has experienced 300% year-over-year growth — reflecting the pace at which enterprise sales organizations have evolved. And as technology has leveled the playing field, prospects often have done their own research and know as much about a product as the sales rep selling it. Databook helps enterprise salespeople be successful by automating and augmenting smart pitches with market insights that speak specifically to the target business’ bottom line.
Databook is essentially an AI-powered SaaS platform that builds customer intelligence on top of CRM. And every member of a go-to-market team can tap the platform to efficiently identify and rank target customers, track progress against sales quotas, provide insights to increase deal size, shorten research cycle times, and assist in converting a prospect to a customer. And the result is high volume and high value enterprise sales.
Databook plans to use its new capital for product development and hiring. And the company plans to double its workforce through expanding its sales, customer service and engineering teams.
KEY QUOTES:
“We use AI to automate everything you need to know about customer priorities, pain points, key buyers and relevant use cases, surfacing insights in a matter of seconds that previously would take weeks to gather manually. By helping sales teams predict customer needs before the customer even presents them, sales people are set up to engage with their audience in a meaningful way from the get go. This intelligence is helping some of the biggest names in enterprise software upskill their teams at scale and smash sales quotas.”
— Anand Shah, co-founder and CEO of Databook
“To close a deal these days, you need more than a slick pitch. Buyers are informed and know what they need. Databook enables consultative sales so that reps can prioritize insight gathering and relationship building over the traditional, educational sales pitch. Before a CRO will sign off on capital spend, they need to see alignment to a business outcome, not just be wowed by a product feature. With Databook, sales teams see 350x typical ROI, with 90 day payback.”
— Tamara Steffens, Managing Director of M12, who is also joining the Databook Board of Directors
“Databook adds real-world intelligence that we haven’t seen before. Our sellers love using Databook because it brings value to every customer conversation.”
— Bill Patterson, EVP & GM, CRM Applications at Salesforce
