Outreach, a Seattle, WA-based sales engagement platform, secured $114m in Series E financing at a $1.1 billion valuation.
The round, which brought total funding to date to $239m, was led by Lone Pine Capital, with participation from Meritech Capital Partners and additional investment from new investor Lemonade Capital, Allison Bhusri’s investment fund, and existing investors DFJ Growth, Four Rivers Group, Mayfield, Microsoft Ventures, Sapphire Ventures, Spark Capital and Trinity Ventures.
The company intends to use the funds to continue innovating directly for the end user, using the latest in machine learning and natural language processing to deliver a platform that provides immediate value through every action, to double its machine learning team, expand its international presence and further grow its partner ecosystem.
Led by Manny Medina, CEO, Outreach provides a sales engagement platform that uses machine learning to provide actionable insights to sales reps and streamline communication between sales teams and prospects. The platform automates and prioritizes customer touch points throughout the sales process, resulting in increased productivity for sales teams. More than 3,300 customer accounts and 50,000 sales professionals worldwide use the platform to improve the sales process, drive collaboration between sales and marketing, and deliver higher revenue per sales rep.
The company recently announced an integration with Microsoft’s Dynamics 365 for Sales, enabling joint customers to leverage Outreach’s platform while syncing with Dynamics 365.