LeadIQ, a sales automation startup in San Francisco, was created $ 30 million In Series B financing, to expand the account-based SaaS prospecting platform.
The financing round was led by global venture capital firm Cathay Innovation with the participation of other investors such as Launch Fund, Draper Associates, Fresco Capital, Strong Ventures, Eight Roads Ventures and Alumni Ventures. Capital A comes after a successful series round and the total funding raised by the startup is $ 42 million. Kavish Kothari, CEO of Eight Roads Ventures, said of the company’s involvement:
“Since we made our initial investment last year, we have been very impressed with the company’s execution and growth rates amid the pandemic. We are pleased to double our conviction as we help Mei and her team strengthen their position in the fast-growing market.”
Founded in 2015 by Mei Siauw, a former Oracle product manager, the startup was the result of a desire to build a modern next-generation prospecting platform to deal with high efficiencies that are not common in traditional outbound sales processes. The result was a platform that optimizes the entire end-to-end sales cycle to accelerate business growth.
The startup, which also has offices in Singapore, has employees in 22 countries on six continents and its customers are from 45 countries around the world, including names like Octa, MuleSoft and WalkMe.
LeadIQ’s revenue has tripled year-on-year, also consolidating as an industry leader, with new capital accelerating account priority, team buying and contact personalization, and accelerating sales team collaboration and key management hiring. roles. Mei Siauw, CEO and CEO of LeadIQ, mentioned the role and success of the startup as follows:
“We built LeadIQ to help sales teams make true prospecting connections everywhere with a more thoughtful approach. The numbers speak volumes, and we’ve tripled their growth in our mid-year and mid-market segments year after year. We hope to do so because they are specialized in the global reach and local market across the US, Europe and Asia in this next phase of growth. ”
Outgoing sales efficiency has been a major challenge for companies around the world, as 65% of groups do not meet their revenue targets. Now, it is launching sales automation, significantly reducing the time it takes to work on manual and recurring sales, allowing resources to be diverted to other key functions.