AAA Gong.io gets investors talking to raise $65m

Gong.io gets investors talking to raise $65m

Israel-based sales analytics technology developer Gong.io has collected $65m in a funding round featuring Cisco Investments, the corporate venturing vehicle formed by networking equipment producer Cisco, Calcalist reported yesterday.

Sequoia Capital led the round, investing alongside fellow venture capital firms Norwest Venture Partners (NVP), Wing Venture Capital and NextWorld Capital, as well as technology investment firm Battery Ventures and private investor Shlomo Kramer.

Founded in 2015, Gong markets a voice analytics-driven platform that helps sales teams optimise their performance by providing real-time analysis of calls with their customers, picking out relevant keywords and conversation topics.

The company has doubled its headcount to 200 over the past year and expects to add 150 employees by the end of 2020. It had raised a total of $68m prior to the latest round.

Gong CEO Amit Bendov told Calcalist there is still $39m available from the $40m in series B funding it secured in February 2019. Battery Ventures led the series B, which included the rest of the investors from the latest round.

Cisco Investments had supplied an undisclosed amount of series A funding for the company in April 2018, adding to a $20m tranche co-led by existing investors NVP and Kramer in 2017.

Bendov added: “You raise funds not when you need to but when you can, and the market is currently in a very good place. It is all good and well now, but if tomorrow we will run into a little difficulty, it is better to have the money.”

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