US-based customer data software provider Gainsight completed a $52m series E round on Tuesday that included the corporate venturing units operated by networking technology manufacturer Cisco and enterprise software provider Salesforce.
Venture capital firm Lightspeed Venture Partners led the round, which included Battery Ventures, Bain Capital Ventures, Bessemer Venture Partners (BVP) and Insight Venture Partners, while Salesforce and Cisco invested through their Salesforce Ventures and Cisco Investments unit respectively.
Gainsight develops software that uses big data analytics to track customer satisfaction through data points such as sales information, usage logs and support tickets. The funding will support international expansion as well as movement into new channels and sectors.
Rowan Trollope, senior vice-president of Cisco’s internet-of-things and applications business, will join Gainsight’s board of directors as an observer. He said: “We are excited to become an investor in a company that shares our vision of helping organiations become more proactive about customer care.
“Within our internal customer success teams, we’ve seen how Gainsight’s technology has given us additional visibility into the health and satisfaction of our own customers. This investment gives us an opportunity to support Gainsight’s growth and continued industry leadership.”
Gainsight has now raised approximately $157m, having secured $50m in a late 2015 series D round led by Insight Venture Partners that included Salesforce Ventures, Battery Ventures, Bain Capital Ventures, BVP, Summit Partners and Lightspeed Venture Partners.
Salesforce Ventures, Battery Ventures, Bain Capital Ventures and Summit Partners had previously taken part in the company’s $20m series B round in 2013.