BOSTON, MA, Leading provider of revenue intelligence solutions for growing businesses, today announced that it has closed $23 million in Series D funding.
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InsightSquared, the leading provider of revenue intelligence solutions for growing businesses, today announced that it has closed $23 million in Series D funding, led by Tola Capital. Existing investors Accomplice, Draper Fisher Jurvetson, Two Sigma and NextView also participated in the round. Aaron Fleishman, Principal at Tola Capital, will join InsightSquared's board of directors.
As many businesses have begun to consolidate their sales and marketing functions, there's an urgency for solutions that give the full go-to-market organization real-time insights into shared metrics. InsightSquared has responded to this emerging need with a "revenue intelligence" solution that helps sales and marketing organizations, regardless of their level of sophistication, confidently answer essential revenue-related questions, like "which sales opportunities should I be most concerned about?" and "what caused us to beat our goal this quarter?"
"We're thrilled to team with Tola Capital," said Fred Shilmover, CEO and co-founder of InsightSquared. "I was impressed from our initial meeting. They opened with an insightful thesis on the space - a thesis that closely matched our go-forward strategy. The team at Tola brings deep expertise along with the capital that will fuel our growth."
InsightSquared's 800+ customers generated nearly 10 million sales and marketing reports last year. It will use the new capital to grow its engineering and product teams, through hiring and acquihires, as well as build out an enterprise sales and services organization to address growing demand from larger customers. The company added three key hires to its executive team in the last year alone, including CTO Geoff Greene, Steve Keilen, who heads sales and customer success, and Matisha Ladiwala who leads the company's expansion into the marketing analytics space.
"Sales and marketing are becoming more aligned to deliver revenue for the business together - InsightSquared provides the common lens across these teams to create 'revenue intelligence'. Organizations want to have a better command of their go-to-market metrics and levers, in order to answer critical business questions from executives and to deliver proactive sales coaching to sales representatives. With InsightSquared, our customers have real-time visibility and intelligence at their fingertips to make better decisions and drive growth," said Fleishman.
One of those customers is Thomson Reuters. Kevin Raybon, VP of Global Sales Ops, said, "InsightSquared has allowed us to enjoy a new level of visibility into our pipeline. Since getting started with the company just a few months ago, we already have enjoyed continuity of reporting across multiple sales teams."
Similarly, Todd Abbott, EVP of Global Sales & Services for Mitel, relies on InsightSquared to drive their sales management across their 1,000 person sales team. "InsightSquared enables us to drive our sales management disciplines globally across Mitel. The ability for sales management to spot trends and changes to the funnel is critical to knowing where to focus to really drive the development of our regional businesses," he said.
Rayborn and Abbott's experiences with InsightSquared are not unique. The company has topped 33 business intelligence vendors in Customer Satisfaction for four years in a row, according to software reviews site, G2 Crowd. In August, the company will convene its customers at its annual Ramp conference, technology's largest event for revenue operations professionals.
InsightSquared helps revenue operations professionals make better decisions by equipping them with actionable, real-time intelligence on sales and marketing KPIs. Businesses rely on the company's solutions to forecast more accurately, better manage pipeline, tailor rep coaching based on individual performance, and conduct data-backed planning and analysis. For more information, visit www.insightsquared.com.
About Tola Capital
Tola Capital is a venture capital firm that focuses on the opportunity to invest in the next wave of enterprise software companies. The firm provides both capital and hands-on engagement to support the growth of its portfolio companies. Tola Capital targets software companies with essential products for enterprise companies, a solid existing customer base, a strong competitive position, and great talent and culture. Tola Capital invests globally and across multiple stages. www.tolacapital.com