US-based sales engagement software producer SalesLoft has landed $70m in a series D round that featured professional networking platform LinkedIn.
Venture capital firm Insight Partners led the round, which included private equity firm HarbourVest Partners and VC firm Emergence Capital. It valued the company at approximately $600m, a source close to the company told TechCrunch.
SalesLoft has built a platform that allows sales teams to manage the sales process, helping them identify leads and find out when and how to approach potential customers.
The series D capital will be used to expand SalesLoft’s business in the US and internationally, the company having recently opened its first European office in London.
Kyle Porter, SalesLoft’s co-founder and chief executive, said: “This investment allows us to expand globally and drive innovation in the sales engagement category.
“Our commitment is to continue to help our customers deliver better buying experiences for their customers, make their sales teams more effective and efficient, and generating the most revenue.”
SalesLoft raised $50m in an April 2018 series C round led by Insight and backed by LinkedIn and Emergence Capital. It had previously received $15m in a 2017 series B round led by Atlanta Ventures, with participation from Emergence Capital and Spinnaker Investments.
The series B added to a $10.2m series A round led by Emergence Capital and backed by Storm Ventures and Spinnaker Investments in 2015. SalesLoft had initially received $800,000 in in 2014, according to a securities filing.