Instruqt – a product-led growth platform company that helps customers bring their products to life through engaging and interactive demos and training – announced it has raised €15 million in a Series A round led by Blossom Capital.
Launched in 2018, Instruqt is known as the world’s first product growth platform where learning and selling come together across every stage of a customer journey. And it gives SaaS leaders the tools they need to create hands-on demos and proofs-of-concept within shareable and embeddable browser-based sandbox environments. Rather than telling buyers why they should purchase their products, they put buyers in the driver’s seat to experience products hands-on.
So far, Instruqt has helped some of the biggest names and unicorns in software and product-led growth – such as Red Hat, MongoDB, Datadog, and HashiCorp – transform their sales and training processes. These global SaaS leaders use the platform to:
1.) Build self-service demos and free test drives for prospects
2.) Boost lead generation through interactive product education
3.) Offer live workshops and sales demos that turn prospects into buyers
4.) Provide customers with self-paced tutorials to help them onboard and train
5.) Train and upskill employees
Plus the company’s customers are increasingly finding new and innovative ways to use the platform like creating interactive learning tracks to give developers practical, hands-on training, and experience. And due to the scalable nature of this kind of content, once customers are onboarded, companies are able to quickly and effectively use Instruqt to showcase new products, upsell and expand.
Since launching, Instruqt has hosted over 1.6 million training and sales demos, built by over 2,000 active content creators to over a million engaged prospects and learners. And on average, companies using Instruqt increase their sales pipeline while cutting presale times by a third. This has led to a 45% increase in higher quality leads, shortening sales cycles by 40% and a 320% ROI.
The company – which was led by CEO Coert Baart alongside co-founder and CTO Adé Mochtar – has doubled its customer base last year, tripled its revenue growth and its team has grown 3-fold in the last 2 years alone. Baart, a serial entrepreneur, was previously co-founder of XebiaLabs (one of the first companies in the DevOps space) and successfully sold it in 2020.
KEY QUOTES:
“We know first-hand how busy buyers and users are and how many directions they’re being pulled in. For sellers to get their attention they need to give them a product experience they won’t forget. They can give buyers the reins to let them test, interact and push the software in ways that not only make it engaging but empowers them to make better, more informed decisions.”
— Instruqt CTO Adé Mochtar
“We’re incredibly proud of the success we’ve had to date, created by offering real value that shifts the dial for our customers. Having been bootstrapped since day one, it was always going to take a VC who truly understood our vision for us to take outside capital. With Ophelia and Blossom, we now have the support and networks to take Instruqt to the next level and beyond.”
— Instruqt CEO Coert Baart
“Instruqt hits the sweet spot for buyers and sellers alike when it comes to tackling the key challenges faced in all sizes and sectors of business. Its own growth is a testament to just how important putting products and software features at the heart of your business strategy can be and we’re delighted to not only be investing in this round, but to be Instruqt’s first venture partner.”
— Ophelia Brown, founder and Managing Partner at Blossom Capital
“Using Instruqt for live workshops, demos, and self-paced learning helps us actively engage with prospects much earlier in the buying cycle – giving us an edge in winning more deals.”
— Idit Levine, CEO at Solo.io, one of Instruqt’s customers
“MongoDB trains a large number of developers worldwide each year. Learning is a key enabler for product adoption, and Instruqt helps us make developer education seamless.”
— Raghu Viswanathan, VP of Education, Academia, and Documentation at MongoDB
“Instruqt has allowed us to build the world’s most popular GitOps course. The labs are better than anything else out there, and our users love the experience and how quickly it helps them learn complex topics.”
— Dan Garfield, Co-founder and Chief Open Source Officer at Codefresh
