This funding helps Seismic reach a $3B valuation and finance the acquisition of Lessonly, a sales coaching and training platform. Here are the top-line bullets you need to know.
Seismic, a sales enablement and marketing orchestration platform, has raised $170M in a Series G. The round drew participation from Permira, Lightspeed Venture Partners, JMI Equity, and Jackson Square Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Seismic helps marketing and sales personnel in B2B companies accelerate revenue growth. The company manages, automates, and distributes sales content while removing redundant systems and manual processes.
- The company reported an annual recurring revenue (ARR) of $250M in 2021.
- The company reportedly caters to 2,000 organizations in 100 countries, conducting more than 22M sales interactions. Its clients include companies such as Citrix, New York Life, IBM, Nintex, and American Express.
- It employs more than 1,300 people across 13 offices located in North America, Europe, and Australia.
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 knowledge, skills, and behaviors.