Internet and telecommunications group SoftBank’s Vision Fund 2 led a $100m funding round for US-based sales preparation software provider MindTickle yesterday that the Economic Times reported valued it at $500m.
The round included Qualcomm Ventures, the corporate venture capital arm of mobile semiconductor technology producer Qualcomm, as well as VC firms Norwest Venture Partners (NVP), Canaan and NewView Capital.
MindTickle has created a software product that utilises data-based intelligence to help train sales teams and make sure they have up-to-date information that can help them close deals. The funding will be used for product development and international growth.
Munish Varma, managing partner at SoftBank Investment Advisers, which manages Vision Fund, said: “We have been impressed by MindTickle’s vision of closing the capability loop and bringing deep insights and actionable intelligence to revenue and business leaders,”
“We believe that sales readiness is experiencing a paradigm shift, as enterprises face the new reality of hybrid-remote work.”
The latest round pushed the company’s overall funding to more than $180m and follows a $40m series C in July 2019 that was led by NVP and backed by Qualcomm Ventures, Canaan Partners, NewView Capital and Accel.
Canaan led MindTickle’s $27m series B round in 2017, investing alongside Qualcomm Ventures, Accel and New Enterprise Associates (NEA). It had raised $12.5m in series A funding from Qualcomm Ventures, NEA and Accel in 2015, after $1.8m from Accel the year before.