Total amount raised
$1.1 Billion
Latest funding date
4/1/2019
Location
Outreach has successfully raised funding over 13 rounds, with the latest being a Secondary Market round. The platform leverages AI for predictive analytics in sales, offering end-to-end solutions for forecasting, coaching, deal management, and more.
With backing from 37 investors, including Investlink Holdings, Outreach continues to innovate in the sales engagement space. Keep reading to explore the intricacies of Outreach's fundraising journey and the investors supporting this dynamic platform.
What Is Outreach?
Outreach is a sales engagement platform that leverages AI for predictive analytics in sales. The company operates in various industries, including AI, CRM, enterprise software, SaaS, sales, and sales enablement. Founded in Seattle, Washington, Outreach has expanded its presence with additional offices in Prague and Atlanta.
With a workforce of 501-1000 employees, Outreach focuses on enhancing the productivity and efficiency of sales teams through AI-driven workflows. The platform offers tools for prospecting, forecasting, deal management, coaching, and customer retention, making it a comprehensive solution for sales and marketing technology.
How Much Funding Has Outreach Raised?
- Seed Round
- Amount Raised: USD 2,300,000
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and gain early traction in the market.
- Series A
- Amount Raised: USD 9,200,000
- Date: October 2015
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: USD 17,500,000
- Date: June 2016
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale sales and marketing efforts.
- Series C
- Amount Raised: USD 30,000,000
- Date: May 2017
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand market reach.
- Series D
- Amount Raised: USD 65,000,000
- Date: May 2018
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Series E
- Amount Raised: USD 114,000,000
- Date: April 2019
- Lead Investors: Lone Pine Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in AI capabilities and expand globally.
- Series F
- Amount Raised: USD 50,000,000
- Date: June 2020
- Lead Investors: Sands Capital Ventures
- Valuation at Round: USD 1,330,000,000
- Motivation Behind the Round: To scale sales and marketing efforts to meet growing demand.
- Series G
- Amount Raised: USD 200,000,000
- Date: June 2021
- Lead Investors: Premji Invest, Steadfast Capital Management, Steadfast Financial
- Valuation at Round: USD 4,400,000,000
- Motivation Behind the Round: To strengthen market position and accelerate growth.
- Secondary Market
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 488,000,000. Current Valuation: USD 4,400,000,000.
Key Investors
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, focusing on growth-stage investments. Managed by Sandesh Patnam, who is also a board member at Outreach.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Flipkart, PolicyBazaar, Lenskart.
- Steadfast Capital Ventures
- Details: Steadfast Capital Ventures focuses on high-growth technology companies. Represented by Karan Mehandru, who is also a board member at Outreach.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Information not provided.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in technology and innovation-driven companies. Known for its early investments in major tech companies.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Apple, Google, WhatsApp.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that manages hedge funds and private equity funds. It focuses on public and private companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. It has been an existing investor in Outreach.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Box, Dropbox, Twilio.
What's Next for Outreach?
Outreach stands at the cusp of significant growth opportunities, driven by its recent $200 million funding round and a valuation of $4.4 billion. The company plans to scale its sales and marketing efforts, explore new markets, and leverage its extensive B2B engagement dataset to enhance customer engagement and deal closure. With over 800 employees and new products like Outreach Kaia and Outreach Insights, the potential for expansion is vast.
Future fundraising opportunities seem promising, given the substantial interest from prominent investors like Premji Invest and Steadfast Capital Ventures. As Outreach continues to innovate and expand, it may attract further investment to support its growth trajectory. However, the company faces challenges such as maintaining rapid growth, integrating new technologies, and staying ahead of competitors in the sales software space.
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