Total amount raised
$117 Millions
Latest funding date
05/01/2018
Location
Conga has successfully raised funding from notable investors such as Insight Partners and Salesforce Ventures. The company specializes in cloud-based document generation and reporting applications for Salesforce.
Keep reading to explore the intricacies of Conga's fundraising journey and the investors backing this innovative platform.
What Is Conga?
Conga, founded in 2006 by Mark Whiteside and Michael E. Markham, is headquartered in Broomfield, Colorado. The company specializes in simplifying and automating data, documents, contracts, and reporting to create more efficient organizations.
With a workforce of 1001-5000 employees, Conga offers a suite of solutions that includes document automation, contract lifecycle management, and configure-price-quote (CPQ) solutions. Their flagship product, Conga Composer, is widely used for document generation and reporting within Salesforce.
By providing a unified, extensible platform, Conga helps businesses streamline and automate their revenue processes, improve compliance, and enhance customer experiences. Their solutions cater to various departments such as Sales, Legal, Finance, IT, Procurement, and Customer Success.
How Much Funding Has Conga Raised?
- Venture Round
- Amount Raised: $70M
- Date: June 25, 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 8, 2017
- Lead Investors: Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Venture Round
- Amount Raised: $47M
- Date: May 24, 2018
- Lead Investors: Insight Partners, Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop Conga's suite of Intelligent Document Automation products, add new productivity features, and support continued growth both domestically and internationally.
Total Amount Raised: $117M
Current Valuation: Not publicly disclosed
Key Investors
Here are the major investors in Conga:
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. They have a strong track record of supporting innovative companies to scale and achieve market leadership.
- Investment Focus Areas: Software, Internet, Fintech
- Notable Investments: Twitter, Shopify, DocuSign
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to extend the power of the Salesforce platform by investing in the next generation of enterprise technology.
- Investment Focus Areas: Cloud computing, Enterprise software, Artificial intelligence
- Notable Investments: Zoom, Dropbox, Twilio
Information about other major investors was not found in the provided sources.
What's Next for Conga?
With a fresh infusion of $47 million, Conga is poised to expand its suite of Intelligent Document Automation products and add new productivity features. This significant funding will enable the company to grow both domestically and internationally, leveraging the increasing demand for automation solutions across various industries.
Future fundraising opportunities seem promising, given the involvement of major investors like Insight Partners and Salesforce Ventures. These partnerships not only provide financial backing but also strategic support, positioning Conga for potential future rounds and acquisitions to enhance its market reach and product offerings.
However, Conga may face challenges such as competition from other automation providers and integration issues with various CRM systems. Staying ahead of rapid technological advancements and meeting customer expectations will be crucial for maintaining its competitive edge.
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