Total amount raised
$4.3 Million
Latest funding date
4/1/2023
Location
Consensus has successfully navigated seven funding rounds, attracting investment from notable firms such as Sumeru Equity Partners and Frazier VC. The platform specializes in intelligent demo automation, designed to accelerate sales through custom product demos.
Keep reading to explore the intricacies of Consensus's fundraising journey and the investors backing this innovative platform.
What Is Consensus?
Consensus operates in the B2B, marketing automation, productivity tools, SaaS, and sales automation industries. The company is based in Lehi, Utah, and employs between 101 and 250 people.
Consensus specializes in intelligent demo automation, helping businesses accelerate sales through custom product demos. The platform has garnered significant investment, including from Sumeru Equity Partners and Frazier VC.
How Much Funding Has Consensus Raised?
- Convertible Note
- Amount Raised: USD 100,000
- Date: October 2014
- Lead Investors: Seed Equity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the Consensus platform.
- Seed
- Amount Raised: USD 2,800,000
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 4,200,000
- Date: April 2016
- Lead Investors: Album VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market penetration.
- Series Unknown
- Amount Raised: USD 1,575,000
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance product features and expand customer base.
- Series Unknown
- Amount Raised: USD 5,192,622
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and development amidst increasing demand for digital sales solutions.
- Series B
- Amount Raised: USD 15,000,000
- Date: January 2022
- Lead Investors: Frazier VC, Riverside Acceleration Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product capabilities.
- Private Equity
- Amount Raised: USD 110,000,000
- Date: March 2023
- Lead Investors: Sumeru Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and achieve category leadership in the enterprise presales market.
Total Amount Raised: USD 138,867,622. Current Valuation: Not publicly disclosed.
Key Investors
- Sumeru Equity Partners
- Details: Sumeru Equity Partners is a growth capital firm that provides scaling partnerships and operational expertise to leading enterprise software companies. They have invested $110 million in Consensus to help accelerate its growth and achieve category leadership.
- Investment Focus Areas: Enterprise and vertical SaaS applications, data analytics, education technology, infrastructure software, cybersecurity.
- Notable Investments: JobNimbus, Consensus.
- Frazier VC
- Details: Frazier VC is a venture capital firm that focuses on investing in early-stage companies with high growth potential. They have been a significant investor in Consensus, participating in multiple funding rounds.
- Investment Focus Areas: Healthcare, life sciences, technology.
- Notable Investments: Not publicly disclosed.
- Riverside Acceleration Capital
- Details: Riverside Acceleration Capital is a venture capital firm that provides growth capital to early-stage technology companies. They have invested in Consensus to support its expansion and product development.
- Investment Focus Areas: Technology, software, digital media.
- Notable Investments: Not publicly disclosed.
- Album VC
- Details: Album VC is a venture capital firm that invests in early-stage technology companies. They have been a key investor in Consensus, helping the company scale its platform and increase market penetration.
- Investment Focus Areas: Technology, consumer products, enterprise software.
- Notable Investments: Not publicly disclosed.
- Seed Equity Ventures
- Details: Seed Equity Ventures is a venture capital firm that focuses on seed-stage investments in innovative companies. They were an early investor in Consensus, providing the initial funding to develop the platform.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Consensus?
Consensus stands at the cusp of significant growth opportunities, driven by the increasing shift towards digital-first sales interactions. With the prediction that 80% of B2B sales will be digital by 2025, the platform is well-positioned to scale its intelligent demo automation capabilities, already utilized by 15 of the largest 30 software companies. This market potential is vast, offering Consensus the chance to solidify its leadership in the demo automation space.
Future fundraising opportunities appear promising, especially with the backing of Sumeru Equity Partners. As Consensus continues to demonstrate growth and market penetration, additional rounds of funding could further accelerate its expansion and innovation. The company may also explore strategic acquisitions to enhance its platform and broaden its market reach.
However, challenges such as economic uncertainty and competition from other demo automation platforms could pose hurdles. Maintaining high growth rates and continuous innovation will be crucial for Consensus to stay ahead in a rapidly evolving market. Despite these challenges, the company's strong foundation and strategic partnerships position it well for future success.
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