SEATTLE, WA, Highspot, a sales enablement solution that sales reps and marketers love, today announced the closing of a $15 million Series B financing.
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The round was led by Shasta Ventures, with participation from Salesforce Ventures and existing investor, Madrona Venture Group. This new investment will help Highspot extend its ability to provide reps with capabilities that result in more effective customer conversations.
A rapid succession of advances has propelled Highspot to a leadership position in the sales enablement industry. Over the past 12 months, the company has expanded its customer base by 300 percent and is now a leading platform for enterprise companies seeking to increase buyer engagement by optimizing their sales and marketing content and improving the readiness of their sales reps.
"Easily accessible, high-quality content and training materials have become key factors in sales rep performance. Our focus is to build on our artificial intelligence (AI) capabilities and continue delivering a complete sales enablement solution that sales reps and marketers love," said Robert Wahbe, Highspot CEO. "This new investment recognizes our leadership position and will help us increase the pace of innovation as we expand to new markets."
"Highspot is a rare company whose founders built a truly breakthrough product in a large emerging market. Their enterprise customers -- who had conducted rigorous product evaluations -- were as passionate and positive as any we've had the chance to speak with," said Doug Pepper, Managing Director at Shasta Ventures and an early investor in Martech SaaS companies such as Marketo, Optimizely and AppBoy. "We're excited to partner with the amazing team at Highspot."
Highspot is helping companies generate unparalleled ROI on their sales content and training investments while improving sales effectiveness. These leaps forward have been driven by the company's AI capabilities, which power features such as semantic search, contextual recommendations for identifying the best content for specific customers, and Content Genomics, patented technology that tracks how content evolves across an organization.
The company's solution addresses crucial needs for sales, sales enablement, and marketing teams, including:
¢ User experiences that improve how content is discovered, customized, and shared, and help reps allocate a greater portion of their time to revenue-generating activities.
¢ A wide range of options for organizing and managing sales content, including in-context training and guided selling. This helps sales enablement leaders highlight best practices, reduce sales process complexity, and achieve business outcomes faster.
¢ A closed loop of data and insights connecting marketing, sales, and customers. By using the company's sophisticated analytics on content usage, engagement, and influenced revenue, marketers are able to determine which types of content deliver the most impactful results throughout the buyer's journey.
Moving forward, the company plans to build upon these and other core offerings while broadening its market reach.
Highspot helps sales teams improve customer conversations and achieve their revenue goals. From content optimization and performance analytics to in-context training, guided selling, and more, the Highspot platform delivers enterprise-ready features in a modern design that sales reps and marketers love. Using Highspot, sales teams are able to stay connected to the best-performing content for each opportunity, customize and optimize their content, and more effectively engage with their customers and prospects. With 90 percent average monthly recurring usage and global support in over 125 countries, Highspot is the sales enablement industry's most trusted solution. Learn more about how Highspot is transforming the sales enablement industry by visiting: www.highspot.com.
About Shasta Ventures
Shasta Ventures is a leading early-stage venture capital firm partnering with bold creative entrepreneurs who are passionate about building great products and amazing experiences. Founded in 2004, Shasta Ventures has funded more than 100 companies specializing in consumer and enterprise technology with a focus on emerging platforms across both sectors. Investments include Apptio, Dollar Shave Club, Mint, Nest and many promising private companies such as Anaplan, Eero, Glint, Leanplum, Nextdoor, Smule, Turo, Zuora and more. The firm is based in Menlo Park and San Francisco, California. Find out more at www.shastaventures.com, or follow us on Twitter at @shasta.
About Salesforce Ventures
Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. Salesforce Ventures -- the company's corporate investment group -- invests in the next generation of enterprise technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 200 enterprise cloud startups in 14 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominantly in seed and Series A rounds across the information technology spectrum, including consumer Internet, commercial software and services, digital advertising, cloud computing, machine learning and AI. Madrona manages approximately $1.3 billion and was an early investor in companies such as Amazon.com, Apptio, Rover.com, and Redfin.