MindTickle, a startup that is helping hundreds of small and large firms improve their sales through its sales readiness platform raised US$100 million in a new financing round on 16 November 2020.
The funding round was led by SoftBank Vision Fund 2. Other participants in the round include existing investors Norwest Venture Partners, Accel Partners, Canaan, NEA, NewView Capital, and Qualcomm Ventures. The financing is a combination of debt and equity, majority of this US$ 100 million fund being equity investment. The startup is now valued at around US$ 500 million, up from about US$ 250 million last year.
The funds will be utilized to further grow in Europe, and the U.S., which is already one of its key markets.
About MindTickle
Founded in 2011 by Deepak Diwakar, Krishna Depura, Mohit Garg and Nishant Mungali, MindTickle offers a sales readiness solution for closing the knowledge and skill gaps found in customer-facing teams. Sales teams from various industries can use MindTickle’s platform to train, coach, and align their sales teams to make reps and their managers more effective.
MindTickle accelerates time-to-productivity, ensures consistent execution, and helps boost sales performance. MindTickle allows companies to upskill their salespeople at scale and uses role-playing methods to help them practice their pitch and how they should handle a customer’s queries. It is a global, privately-held company with headquarters in San Francisco, California and Pune, India.
Through the platform, salespeople can measure their improvement in revenue metrics and get feedback on the calls they made. MindTickle uses machine learning engines to serve personalized remediations and reinforcements to salespeople
The startup has more than 200 enterprises as its clients, including more than 40 of the Fortune 500 and Forbes Global 2000 firms. Some of its clients include MongoDB, Nutanix, Qualtrics, Procore, Square, Janssen, Cloudera, Dexcom, Merck & Co. and Benetton Group.
MindTickle has seen a surge in its customer base and usage in recent months as firms shut offices and moved work to remote platforms to avoid their exposure to the coronavirus. “Today, our platform is being used in ways we had not even envisioned. At some firms, finance departments and HR teams have also moved to MindTickle. We are seeing a major shift,” said Krishna Depura, Co-founder and CEO of MindTickle.
What Investors have to say
“MindTickle’s track record of growth, quality of product and marquee customer base highlights their strengths. By delivering engaging and personalized training to users, MindTickle is uniquely placed to support businesses to increase revenue generation and extend critical capabilities within their existing workforce,” said Sumer Juneja, Partner at SoftBank Investment Advisers.
Read Next Story Here
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
