- Highspot recently announced it raised $248 million in Series F funding. These are the details.
Highspot — the sales enablement platform that increases the performance of sales teams — announced it has raised $248 million in Series F funding. Highspot’s post-money valuation is now $3.5 billion, which has quadrupled in the past two years. The company’s total funding is now $648 million. New investors B Capital Group and D1 Capital Partners led the round with participation from existing investors: ICONIQ Growth, Madrona Venture Group, Salesforce Ventures, Sapphire, and Tiger Global Management.
Highspot has been transforming the way millions of people work with the only natively-built sales enablement platform that helps companies drive consistent revenue growth. And the customer adoption across the United States, the United Kingdom, Europe, and Australia has driven significant performance results:
— Revenue grew 935% over the last three years
— Annual Recurring Revenue (ARR) net retention was greater than 130% over the last 12 months
— Fortune 500 companies that have adopted Highspot include Aetna, Cardinal Health, Siemens, Staples, Yahoo and more
— Highspot connected over 8 million salespeople, channel partners, services reps, and customers in digital sales experiences last year, representing a 150% increase in platform usage from the previous year
The skyrocketing demand for sales enablement and Highspot’s differentiated solution has helped drive explosive employee growth, taking Highspot from a startup with 400 employees two years ago to a global business with more than 800 employees today. And the company expects to grow by more than 500 employees in the next 12 months. The company plans to use the new funding to deepen investments across its business as it expands globally, accelerates product development, and continues to create a solid company culture.
KEY QUOTES:
“Transforming the way millions of people work is more than a phrase, it’s our goal every day. To deliver a product millions of people love, we must continuously cultivate a workplace that energizes, inspires, and supports our people to be their full selves and do their best work. Our focus has driven spectacular growth and the best part is, we’re just getting started.”
— Robert Wahbe, CEO, Highspot
“Technologies that unlock human potential are foundational to our economic future. Highspot’s undeniable performance, coupled with the enthusiasm of their customer base, is a testament to how transformative their technology is for companies across industries and geographies. We believe Highspot’s platform is an imperative for businesses aiming to drive sustainable growth.”
— Rashmi Gopinath, General Partner, B Capital
“At D1, we seek to back visionary companies that have both the people and the product to support long-term value creation. We believe Highspot continues to build a world-class team that is advancing not only the company, but also the entire sales enablement category. We’re ecstatic to join this incredible journey.”
— Evan Fiedler, Principal, D1 Capital Partners
