US-based sales technology developer Outreach closed a $200m series G round featuring Salesforce Ventures, the corporate venture capital subsidiary of enterprise software supplier Salesforce, at a $4.4bn valuation yesterday.
Investment firms Premji Invest and Steadfast Capital Ventures co-led the round, which included DFJ Growth, Lone Pine Capital, Mayfield Fund, Sands Capital, Sequoia Capital Global Equities, Tiger Global Management, Trinity Ventures and Vista Public Strategies.
Outreach provides an artificial intelligence and machine learning-equipped software platform that enables organisations to automate and track online and offline sales interactions with clients. It said it has now raised $489m since it was founded in 2014.
Salesforce Ventures had taken part in a $50m series F round for Outreach in June 2020 that was led by Sands Capital and backed by Lone Pine Capital, Mayfield Fund, Meritech Capital Partners, Operator Collective, Sapphire Ventures, Spark Capital and Trinity Ventures at a $1.33bn post-money valuation.
Lone Pine Capital led the company’s $114m series E round in early 2019, investing with software provider Microsoft’s M12 unit, as well as Lemonade Capital, Meritech Capital, DFJ Growth, Four Rivers Group, Mayfield, Sapphire Ventures, Spark Capital and Trinity Ventures.
DFJ Growth, Four Rivers Group, Mayfield, Sapphire Ventures, Spark Capital and Trinity Ventures had joined M12 (then known as Microsoft Ventures) and MHS Capital to back in Outreach’s $65m series D round the year before.
Outreach had closed a $30m series C round in 2017 that was led by DFJ and with contributions from Microsoft Ventures, Four Rivers, Mayfield, MHS Capital and Trinity Ventures.
Microsoft Ventures had also chipped into a $17.5m series B round for the company in 2016, investing alongside Trinity Ventures and unspecified existing shareholders. Mayfield, Floodgate and MHS Capital were among its early investors.
