Seattle-based sales platform Highspot announced Monday that it raised $200 million in a Series E led by Tiger Global Management. The latest influx of fresh capital brings the newly minted unicorn’s valuation to a whopping $2.3 billion.
The announcement follows what has been a prosperous year for the company. In 2020, Highspot connected more than three million salespeople, channel partners, service representatives and customers. The company experienced a 100 percent increase in platform usage from 2019.
Highspot aims to increase revenue for sales teams by providing them with a comprehensive software-based training solution. In addition to training, the startup’s sales enablement platform provides teams with ongoing guidance, coaching, engagement intelligence and analytics to improve performance outcomes.
“Sales enablement is about more than sales. It connects everyone from marketing and sales to post-sales in delivering a unified buying experience that wins, retains and expands customer relationships,” Robert Wahbe, CEO of Highspot, said in a statement.
Highspot is used to support sales teams at a host of corporate giants including DocuSign, Dow Jones, General Motors, Nestle and Twitter, among others.
“Scaling your go-to-market strategy is a complex process with a large gap between strategy and action, we close this gap,” Wahbe continued.
The additional capital will be used to fuel the company’s next phase of growth. Following the fresh investment, Highspot will continue to expand its international operations. The company plans to make its next moves in France as well as a slew of countries in the Asia-Pacific market.
To support its expansion, Highspot is also embarking on a major hiring effort. The company is now hiring for positions “across every business function.” Dozens of available roles span the company’s engineering, sales, marketing and customer service departments, to name a few.
Highspot has raised $400 million in financing to date, according to the company.
Additional investors ICONIQ Growth, OpenView, Salesforce Ventures and Madrona Venture Group participated in the round, among others.
