The funding brings MindTickle’s valuation to the $1.2B mark. Here are the top-line bullets you need to know.
MindTickle, a sales enablement and readiness software company, has raised $100M in a Series E. The round drew participation from Canaan Partners, NewView Capital, Qualcomm Ventures, SoftBank Group, and Norwest Venture Partners, among others.
HOW’S THE COMPANY PERFORMING?
- California-based MindTickle’s platform allows enterprises to track sales performance, optimize administrative behavior, and elevate their revenue growth.
- The company reportedly caters to 1M users and 220 brands. It also claims to have doubled the number of Fortune 500 and Forbes Global 2000 companies in its portfolio in 2020. Clients include companies like Johnson & Johnson, Splunk, and Wipro.
- MindTickle’s ARR currently sits at $40M.
- The company has offices in the US, the UK, and India.
WHY DOES THE MARKET MATTER?
- The global sales enablement platform market is expected to reach a value of $4.5B by 2027, growing at a CAGR of 19.5%, according to Global Industry Analysts.
- Several enterprises are leaning toward skill development and sales enhancement courses to bolster revenue.
- The global pandemic has accelerated the shift to distributed workforces and increased dependency on digital tools to enhance sales content management capabilities.