- LeadIQ — a leading account-based prospecting SaaS platform that simplifies lead management and sales prospecting — announced that it has raised a $30 million Series B. These are the details.
LeadIQ — a leading account-based prospecting SaaS platform that simplifies lead management and sales prospecting — announced that it has raised a $30 million Series B round led by global venture capital firm Cathay Innovation with participation from Eight Roads Ventures, Alumni Ventures, LAUNCH Fund, Draper Associates, Fresco Capital and Strong Ventures. And this investment brings the total capital raised to $42 million with the new financing being used to accelerate its product roadmap in account prioritization, buying team and contact personalization, and sales team collaboration, along with hiring key management roles as the company continues its growth and expansion.
Based in San Francisco and Singapore, LeadIQ was launched in 2015 by Mei Siauw. Now LeadIQ employs a remote workforce spanning 22 countries across six continents and serves enterprise and mid-market customers in 45 countries across the globe, which includes notable customers such as MuleSoft, WalkMe, and Okta. The company grew revenue by 3x and achieved eight-digit ARR, while establishing itself as a category leader.
LeadIQ’s customers have been able to significantly reduce time spent on manual and repetitive sales busywork. And digital adoption platform leader WalkMe has saved its BDR team thousands of hours per quarter and increased discovery calls by 19% in the months following deployment. Plus revenue operations platform Clari is saving around 600 hours a quarter and has seen its ideal customer profile (ICP) alignment improve from 50% to 85%.
KEY QUOTES:
“Led by a resilient and tenacious CEO with incredible vision, LeadIQ offers a next-gen platform that is the glue that unifies sales at the top of the funnel to provide the most comprehensive solution on the market. Its workflow automation builds a strong moat and competitive advantage which is critical with the pandemic-era digital transformation and subsequent talent wars forcing sales leaders to prioritize efficiency and effectiveness beyond the quota. We look forward to leveraging our resources worldwide to accelerate the company further onto the global stage.”
— Denis Barrier, Co-Founder & CEO at Cathay Innovation
“Since our original investment early last year, we’ve been very impressed by the company’s pace of execution and growth amidst the pandemic. LeadIQ is addressing a pertinent pain point in the sales journey by increasing effectiveness of the sales teams through a product-led approach. We’re thrilled to be doubling down on our conviction as we continue to support Mei and her team to strengthen their position in a rapidly growing market.”
— Kavish Kothari, Principal, Eight Roads Ventures
“With 65% of teams missing revenue targets, outbound sales efficiency is a major challenge for enterprises globally. Today, account-based prospecting is still highly manual and time-consuming thanks to fragmented data across multiple systems, repetitive busy work, low quality research and varying privacy laws. We built LeadIQ to help sales teams everywhere make authentic prospect connections with a more thoughtful approach. The numbers speak volumes, where we tripled growth in our enterprise and mid-market segments year-over-year. With this latest financing, we look forward to working with current and new investors like Cathay Innovation, who have the global reach and local market expertise across the US, Europe and Asia to help us scale further during this next phase of growth.”
— Founder and CEO Mei Siauw
