SalesLoft, a US-based sales engagement platform developer backed by social media platform developer LinkedIn, completed a $100m funding round yesterday valuing it at $1.1bn.
The round was led by alternative asset manager Owl Rock Capital and also featured growth equity firm Insight Partners, private equity firm HarbourVest and venture capital firm Emergence Capital. It took the company’s total funding to $246m.
Founded in 2011, SalesLoft has built a software platform that helps sales teams connect with their customers across multiple platforms while guiding sales staff through parts of the process such as lead generation and subscription renewals.
The funding will be used to further develop the company’s artificial intelligence and machine learning technology in addition to supporting international growth.
Kyle Porter, SalesLoft’s chief executive, said: “Our goal is and always will be to help our customers win. This year has accelerated the need for revenue teams across all industries to transform through a digital selling strategy. SalesLoft is a crucial technology for sales teams to perform at their highest potential.”
SalesLoft raised a total of $26m from investors including Emergence Capital, Atlanta Ventures, Spinnaker Investments and Storm Ventures before Insight Partners led a $50m series C round in 2018 that also featured LinkedIn and Emergence Capital.
LinkedIn, a subsidiary of software provider Microsoft that is also among SalesLoft’s customers, returned for a $70m series D round in April 2019 that was led by Insight Partners and also backed by HarbourVest Partners and Emergence Capital.
