Sales engagement startup has landed $50 million in a new round of funding, the company announced late Tuesday.
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The new round was led by with 鈥渟trong participation鈥 from , according to a statement from the company. Although it鈥檚 an up round in a down market, the investment by Salesforce was validation for the company, CEO Manny Medina said in an interview with 附近上门 News.
鈥淚t鈥檚 more than just us, it鈥檚 validating that sales (engagement) is a true category that鈥檚 addressing a pain in the market,鈥 Medina said.
The sales engagement category is relatively new. According to Medina, it 鈥渟eparates the system of action from the system of record.鈥
Outreach manages customer interactions and uses machine learning to help guide sales reps when they鈥檙e making decisions. It offers things like calendaring features, a multichannel communications platform, and other ways for sales reps to better engage with customers. Companies like , and use Outreach for sales, according to the startup鈥檚 website.
is also joining as a new investor in the round. The company鈥檚 other backers include , , , , and .
The new funding will be used to double down on investing in its products and their distribution. While Outreach is a West Coast company based in Seattle and many of its early customers were tech companies based in the west, there鈥檚 been growing demand from large companies, and from companies on the East Coast and Europe.
The startup will also be opening an office in New York and expanding its presence in Europe, where it already has an office in London.
Outreach was last valued at $1.1 billion after its round in April 2019. The new funding brings its valuation to $1.33 billion. The company has a total of $289 million in funding.
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Disclosure: Salesforce Ventures and Mayfield, investors in Outreach, are also investors in 附近上门, the parent company of 附近上门 News. 附近上门鈥檚 investors are listed as part of its . For more about 附近上门 News鈥 editorial policies on disclosure, see the News team鈥檚 About page.
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