Outreach, the US-based developer of a data-driven sales communication platform, completed a $17.5m series B round yesterday featuring Microsoft Ventures, the corporate venturing arm of software producer Microsoft.
Venture capital firm Trinity Ventures led the round, which also included undisclosed existing investors, and Trinity general partner Karan Mehandru has joined Outreach’s board of directors. Outreach is the fifth company Microsoft Ventures has funded since it restarted direct investments last month.
Outreach has created a business sales assistance platform that can manage a sales team’s communication workflow. It is equipped with safety and security features, as well as activity analytics and predictive communication intelligence.
Nagraj Kashyap, corporate vice president of Microsoft Ventures, said: “At Microsoft Ventures, we are very excited about the next generation of cloud-based enterprise applications.
“Outreach certainly fits the bill, harnessing the power of the cloud to deliver an elegant, unique solution to satisfy enterprise sales team needs.”
The company will put the funding toward expanding its marketing and enterprise sales teams and strengthening its platform. It has now raised approximately $29m altogether.
MHS Capital and Floodgate contributed to a $2.4m seed round for Outreach before being joined by Mayfield for a $9.2m series A that closed in October 2015.