Qualcomm Ventures, the investment arm of semiconductor technology producer Qualcomm, participated in a $40m series C round for US-based sales training software vendor MindTickle on Monday.
The round was led by Norwest Venture Partners (NVP) and included fellow venture capital firms Canaan Partners, Accel and NewView Capital. Scott Beechuk, a partner at NVP, has joined the company’s board of directors in conjunction with the round.
MindTickle operates a platform that helps companies train their sales representatives through skill-building activities, data science tools, structured coaching programs and quizzes. The company offers game-based lessons that use points, badges, certifications and leaderboards as incentives.
Krishna Depura, MindTickle’s co-founder and chief executive, said: “MindTickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer.
“Our series C funding will fuel our strategic, long-term growth plans while supporting ongoing investment in our expanding products and services.”
Canaan Partners led a $27m series B round for MindTickle in late 2017, investing alongside Qualcomm Ventures, Accel and New Enterprise Associates.
The latter three investors had previously contributed to the company’s $12.5m series A round in 2015, adding to a $1.8m seed round backed by Accel and Moneta Ventures the preceding year.