On Thursday, software company Highspot announced it secured $248 million in a Series F funding round co-led by B Capital Group and D1 Capital Partners. The round also included participation from ICONIQ Growth, Tiger Global Management, Madrona Venture Group, Sapphire and Salesforce Ventures.
Highspot was founded in 2012 and is now valued at $3.5 billion. The Seattle-based company developed an enablement sales management platform intended to help companies and sales teams set and accomplish sales goals. The platform works by housing the many aspects that go into running a revenue and sales team. On a single platform, users can store and manage content intended for clients, get analytics on customer interactions and train sales representatives.
According to the company, customers who adopted the platform have seen its revenue increase over 900 percent in the last three years. The platform has also been implemented by several Fortune 500 companies like Yahoo and Aetna.
“Technologies that unlock human potential are foundational to our economic future,” Rashmi Gopinath, a general partner at B Capital, said in a statement. “Highspot’s undeniable performance, coupled with the enthusiasm of their customer base, is a testament to how transformative their technology is for companies across industries and geographies. We believe Highspot’s platform is an imperative for businesses aiming to drive sustainable growth.”
Highspot said the new capital will be used to grow demand for the platform internationally and grow its employee base.
Thanks to the skyrocketing demand for the product, Highspot has already seen significant growth. In the past two years, the company increased its headcount from 400 to more than 800 employees and is looking to add another 500 in the next twelve months.
Highspot currently has several job openings, ranging from data and analytics to design and engineering.
“Transforming the way millions of people work is more than a phrase, it’s our goal every day,” Robert Wahbe, CEO of Highspot, said in a statement. “To deliver a product millions of people love, we must continuously cultivate a workplace that energizes, inspires and supports our people to be their full selves and do their best work. Our focus has driven spectacular growth and the best part is, we’re just getting started.”
In 2021, Highspot closed another successful funding round that saw the company secure $200 million. According to Crunchbase, Highspot has brought in $645 million in outside capital since launching.
