US-based sales management software provider Highspot secured $200m at a $2.3bn valuation yesterday, in a series E round that included management consulting firm Bain & Company and enterprise software producer Salesforce.
Hedge fund manager Tiger Global Management led the round, which included Iconiq Growth, Madrona Venture Group, OpenView Venture Partners, Sapphire Ventures and Shasta Ventures, while Salesforce invested through corporate venturing unit Salesforce Ventures.
Highspot has built an artificial intelligence and data-enhanced platform that helps sales representatives manage customer relations, leads and accounts. The money will be used to improve the company’s products, increase its presence in France and the Asia-Pacific region, boost its partner network and support the sales community.
Robert Wahbe, Highspot’s chief executive, said: “Sales enablement is about more than sales. It connects everyone from marketing and sales to post-sales in delivering a unified buying experience that wins, retains and expands customer relationships.
“Scaling your go-to-market strategy is a complex process with a large gap between strategy and action. We close this gap. Our single, unified platform improves sales performance by turning strategy into successful execution.”
Salesforce Ventures had already contributed to a $75m series D1 round for the company in December 2019, investing alongside Iconiq Capital, Madrona Venture Group, OpenView and Sapphire Ventures.
The round brought Highspot’s overall funding at the time to $200m, and the investors had all been part of a $60m series D close six months earlier that also featured Shasta Ventures.
OpenView led a $35m series C round for Highspot in 2018 that also featured Salesforce Ventures, Madrona Venture Group and Shasta Ventures, the last of which had led a $15m series B round the year before that included Salesforce Ventures and Madrona.
