Home Funding Pre sales platform Vivun raises US$ 18M in Series A funding

Pre sales platform Vivun raises US$ 18M in Series A funding

Vivun
Pre sales platform Vivun raises US$ 18M in Series A funding

Vivun, New Zealand based pre-sales platform raised US$18 million in series A funding held in October 2020. This round was led by Accel with participation from existing investors Unusual Ventures and Firebolt Ventures. With this investment, Vivun has raised a total of $21 million. 

Vivun has been growing at a very surprising rate in the past year, which has caught the attention of many investors. It has a unique product category which has created a lot of demand for it. Vivun’s co-founder and CEO, Matt Darrow wants to double the number of employees in the next year from the current 30, fueled in part by the new investment dollars.

Presales is the department in a company that bridges the gap between sales and product. It is usually not given any priority and dismissed as the “demo team”. Presales is sometimes described as Sales Engineering, Solution Engineering or Field Engineering. It plays an important role in closing business deals. Often, buyers will ask for the technical experts in Presales first, after using online resources or free trials to get the basics. 

The startup grew annual recurring revenue (ARR) six-fold and tripled the workforce, doing business as an early-stage startup in the midst of a pandemic. Smaller companies have cut back due to the pandemic scenario, but larger businesses like Okta, Autodesk and Dell Secureworks have filled in as the product actually fits well in larger enterprise organizations.

Vivun will use the funding to accelerate its go-to-market efforts and expand its platform, Hero by Vivun, the world’s first software for Presales. Vivun has a refreshing workspace culture. They provide two quiet periods a year for people to take a break and refresh their batteries. Even before the onset of the pandemic, it had emphasised on flexibility and used to give employees a chance to work from home. 

About Vivun

Vivun
Vivun

Vivun is the world’s first AI-powered platform for presales, founded by Matt Darrow, CEO and Dominique Darrow, CCO in New Zealand. They came up with this idea after a successful IPO at Zuora in 2018. In September 2019, Vivun raised series seed led by Unusual Ventures and in November 2019, Vivun bags $3M series seed which gave the boost to both the company and the pre-sales software avenues

About Accel

Accel
Accel

Accel is a venture capital firm which targets seed, early and growth-stage startups. It was founded by Arthur Patterson and Jim Swartz in Paolo Alto, California in 1983. It operates in the US, London, Indian and China. Accel primarily focuses on technology firms, but sometimes looks into groundbreaking startups from other backgrounds. Their previous series A investments range between US$4.4 to US$25 million. 

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