Bengaluru: Pune and San Francisco-based MindTickle, which provides sales readiness technology, has secured $40 million in Series C funding.
New investor Norwest Venture Partners led the round with participation from all existing investors, including Accel Partners, Canaan, NewView Capital, a spinout of New Enterprise Associates, and Qualcomm Ventures LLC.
In addition, Scott Beechuk, partner at Norwest Venture Partners and former senior vice president of Product Management at Salesforce Service Cloud will join MindTickle’s Board of Directors. This round brings MindTickle’s total fund raised to more than $81 million.
“Sales and service organizations are facing a perfect storm on many fronts and company representatives that are not equipped to handle complex buyer needs and competitive challenges are being left behind. MindTickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer," said Krishna Depura, co-founder and CEO of MindTickle on Tuesday.
“Our Series C funding will fuel our strategic, long term growth plans while supporting on-going investment in our expanding products and services. We’re thrilled to have Scott join our board and welcome his insight and expertise as we embark on this new stage of rapid expansion."
MindTickle has experienced rapid growth through many business measures, including expanding its Fortune 500 and Global 2000 customer base by 200% and increasing annual recurring revenue by more than 100% year-on-year. Companies across a wide range of industries use MindTickle's capabilities for on-demand, online training, bite-sized mobile updates, gamification-based learning, coaching and role-play to ensure world-class sales performance.
The funding news comes on the heels of MindTickle announcing its latest hire -- Jeff Santelices as chief revenue officer, adding an experienced and proven leader with a track record of building customer-focused sales organizations.
MindTickle has also expanded the sales leadership team with the two additional hires -- Ahmed Hedayat and Dan Coady. Ahmed has joined as regional vice president of Enterprise Sales, West and APAC, while Dan has joined as regional vice president of Enterprise Sales, East.