Venture Capital News: Seismic Raises $20M in Series B
SAN DIEGO, CA, Leading sales enablement solution, today announced the completion of a $20 million Series B funding round.
Seismic, the leading sales enablement solution, today announced the completion of a $20 million Series B funding round led by JMI Equity, a growth equity firm focused on investing in leading software and services companies. Following rapid company expansion and customer growth and the best year in its history, Seismic plans to invest heavily to bolster its product innovation and expand its sales, marketing and customer experience teams.
Previous investor Sigma West also participated in the latest funding round with Pete Solvik continuing as a member of Seismic's board of directors. Peter Arrowsmith, a General Partner at JMI, will join Seismic's board of directors.
'Seismic is the only platform that allows companies to get an end-to-end view of how content is used by employees and consumed by customers,' said Seismic CEO Doug Winter. 'Our technology gives customers a significant competitive advantage in the sales process. As such, we've experienced rapid expansion and customer growth, with revenues tripling in the past year. We are excited to be partnering with JMI and Sigma West to help continue our innovation and growth.'
Seismic increases sales team effectiveness by automating the creation of customized sales materials with the most up-to-date data and on-brand messaging, on any device. Seismic provides sales with a central hub to easily access marketing-created materials. With Seismic's 'LiveDoc' feature, business materials are automatically updated with real-time data from both internal and external sources. Seismic's 'LiveSend' and 'LiveShare' features give sales reps real-time visibility into how their prospects are interacting with the content. Combined, these unique features ensure sales teams consistently deliver the right message to the right person and maximize their time in front of prospects and customers.
Seismic also provides powerful analytics to marketers, giving them full visibility into the entire sales process for the first time. Marketers can see what materials sales teams are using and how successful the materials are with prospects and customers. With Seismic, marketing teams can ensure more targeted content is created and used effectively to shorten the sales cycle, improve win rates and increase customer satisfaction.
'Seismic's strong management team and customer-proven platform have positioned the company to be a leader in the dynamic and rapidly growing sales enablement market,' said Peter Arrowsmith of JMI. 'We see strong market growth potential and we are very excited to contribute to the next phase of Seismic's product, market and company success.'
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software and services companies. Founded in 1992, JMI has invested in 115 businesses in its target markets and has raised more than $3.1 billion of committed capital. Combining domain expertise and active partnership, JMI works with management teams to build market-leading businesses and create long-term shareholder value. Realized investments from JMI funds include Autotask, Axeda, BigMachines, Eloqua, Gemcom, Halogen and ServiceNow. For more information on JMI, visit http://www.jmi.com.
Seismic is the leading sales enablement solution that allows sales teams to deliver the right content at the right time on any device. Seismic's mobile-first, cloud-based platform enables field and inside sales reps to quickly create customized, compliant materials that dramatically increase time spent selling, improve win rates, reduce sales cycles and increase customer satisfaction. Founded in 2010, Seismic is privately held by its three-time serial entrepreneur executive team and leading venture capital firms JMI Equity and Sigma West.
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