- Highspot — a unified natively-built sales enablement platform company — announced it has raised $200 million in Series E funding led by Tiger Global Management. These are the details.
Highspot — a unified natively-built sales enablement platform company — announced it has raised $200 million in Series E funding led by Tiger Global Management with participation from new investor Bain & Company. This funding round included all existing investors ICONIQ Growth, Madrona Venture Group, OpenView, Salesforce Ventures, Sapphire Ventures and Shasta Ventures. The funding round values Highspot at $2.3 billion.
Highspot’s rapid growth has been driven by the critical role sales enablement plays in a company’s ability to improve the performance of their sales teams. And Highspot’s innovation leadership and customer satisfaction resulted in back-to-back record quarters for new customer wins and annual recurring revenue growth in fiscal year 2021.
Companies like DocuSign, General Motors, John Deere, Nestle, and Verizon Media are using Highspot’s sales enablement platform – complete with content, guidance, training, coaching, engagement intelligence and 360-degree analytics – to win and keep customers at scale. And last year, Highspot connected more than 3 million salespeople, channel partners, services reps and customers in digital sales experiences, representing a 100% increase in platform usage from 2019. Plus Highspot also supports the world’s largest community of sales enablement professionals, Sales Enablement PRO, which has surmounted more than 13,000 members in less than two years.
The funding will fuel Highspot’s next wave of growth including product innovation, international expansion, partner ecosystem, and community commitment.
KEY QUOTES:
“Sales enablement is about more than sales. It connects everyone from marketing and sales to post-sales in delivering a unified buying experience that wins, retains and expands customer relationships. Scaling your go-to-market strategy is a complex process with a large gap between strategy and action. We close this gap. Our single, unified platform improves sales performance by turning strategy into successful execution.”
— Robert Wahbe, CEO, Highspot
“Salesforce changed sales 20 years ago. Marketo changed marketing 10 years ago. Now, Highspot’s vision is to fundamentally change the way companies go to market. Highspot’s secret is an authentic commitment to people – their employees, customers and partners – that inspires a tremendously collaborative and resilient culture. We believe they’re capable of sustaining unmatched levels of innovation to achieve their vision.”
— John Curtius, Partner, Tiger Global Management
“Over the past year, sales enablement has emerged as a strategic imperative. Companies that have built world-class enablement teams and technology are managing change and uncertainty at scale, while others struggle with agility and inconsistent performance. We believe Highspot’s differentiated approach will become the foundation upon which modern businesses achieve consistent revenue growth and market share gains.”
— Mark Kovac, Partner and head of Bain & Company’s Global B2B Commercial Excellence Practice
