US-based sales analysis software provider Gong received $250m in a series E round featuring Salesforce Ventures, the investment arm of enterprise software producer Salesforce, at a $7.25bn valuation yesterday.
Investment firm Franklin Templeton led the round, which included Coatue Management, Sequoia Capital, Thrive Capital and Tiger Global Management. The company has raised $584m since it was founded in 2015.
Gong’s artificial intelligence-equipped Revenue Intelligence Platform helps organisations analyse external engagement level through online and offline interactions including emails and phone calls to enhance sales performance. LinkedIn, PayPal, Shopify, Slack, Twilio and Zillow are among its customers.
Salesforce Ventures had already taken part in a $200m series D round for the company at a $2.2bn valuation in August 2020. it was led by Coatue and backed by Index Ventures, Thrive Capital, Battery Ventures, NextWorld Capital, Norwest Venture Partners (NVP), Sequoia and Wing Venture Capital.
Cisco Investments, the corporate venturing subsidiary of networking equipment producer Cisco, was among the participants in a $65m series C round for Gong in late 2019 that was led by Sequoia and which included NVP, Wing Venture Capital, NextWorld Capital, Battery Ventures and Shlomo Kramer.
Gong had raised $40m in a series B round earlier the same year that was led by Battery Ventures and which included all the other series C investors.
NVP and Shlomo Kramer contributed $6m to the company’s 2016 seed round before jointly leading a $20m series A round in 2017 that was also backed by Wing Venture Capital and NextWorld Capital. Cisco Investments then provided an undisclosed sum likely to have been $3m the following year.
