- Sales Readiness technology company MindTickle announced recently that it raised $40 million in Series C funding
MindTickle — a leader in Sales Readiness technology — announced recently that it raised $40 million in Series C funding. New investor Norwest Venture Partners led the round and all existing investors participated including Accel Partners, Canaan, NewView Capital (a spinout of New Enterprise Associates), and Qualcomm Ventures LLC.
In conjunction with the funding round, Norwest Venture Partners partner and former Senior Vice President of Product Management at Salesforce Service Cloud Scott Beechuk is joining the company’s board of directors. Including this round, MindTickle has raised over $81 million.
“Sales and service organizations are facing a perfect storm on many fronts and company representatives that are not equipped to handle complex buyer needs and competitive challenges are being left behind. MindTickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer,” said Krishna Gopal Depura — the co-founder and CEO of MindTickle. “Our Series C funding will fuel our strategic, long term growth plans while supporting on-going investment in our expanding products and services. We’re thrilled to have Scott join our board and welcome his insight and expertise as we embark on this new stage of rapid expansion.”
“At Snowflake, the sales experience has become as significant a differentiator as the product,” added Stephen Hallowell — the VP of Sales Productivity at Snowflake. “When companies under-invest in training their sales teams, a few exceptional sales reps drive a disproportionate share of bookings. Worse, account executives are not prepared to answer tough questions or lead customers through often-complex buying decisions. We use MindTickle to scale a high-quality, high-impact training experience for our sales organization, our partners, and our customers. They have been a great partner and collaborator enabling our teams to be more effective in the field.”
MindTickle has seen rapid growth including the expansion of its Fortune 500 and Global 2000 customer base by 200% and an increase of annual recurring revenue by more than 100% year-over-year. And this funding news comes on the heels of MindTickle hiring Jeff Santelices as Chief Revenue Officer.
Plus MindTickle expanded its sales leadership team with the hiring of Ahmed Hedayat (Regional Vice President of Enterprise Sales, West and APAC) and Daniel Coady (Regional Vice President of Enterprise Sales, East).
“MindTickle is successfully confronting one of the most complex issues facing today’s organizations — the ability to train and upskill customer-facing employees,” noted Beechuk. “MindTickle has proven product-market fit for its mobile-first, readiness platform that engages employees and delivers perpetual micro-learning experiences. As organizations continue to look beyond traditional learning management systems for new technologies to make their teams more effective in the field, we see a tremendous opportunity ahead for MindTickle to lead this movement.”
