On Wednesday, Outplay, a San-Francisco based multi-channel sales engagement platform announced that it raised USD 7.3 Million in Series A funding round, which was led by Sequoia Capital India.
The startup will invest this money in hiring new and fresh talents across the world and increase the workforce.
Words from the investors –
“Outbound sales needs are evolving rapidly, and reps now need personalised, automated, and contextual tools to drive sales, which Outplay is successfully enabling. Sales reps spend an average of four hours per day on Outplay, demonstrating the effectiveness of the product, which has category-leading customer reviews,” Harshjit Sethi, Principal, Sequoia India, said.
“Additionally, rapid digitisation due to COVID-19 has been a significant accelerant for the business, and we believe these tailwinds will continue as outbound sales become more digital.” – he further added.
Outplay was initiated by Laxman Papineni and Ram Papineni in 2019. It intends to bring predictability to outbound sales and aid salespeople talk to the right candidate at the right channel.
Outplay said that the outbound team usually uses high-volume tactics to accumulate more revenue. However, this method of accumulation is not scalable.
The startup also offers support to ensure the software can be adopted by the teams within a few days. Since it raised USD 2 Million in seed funding from Sequoia Capital India in early 2021, its revenue has grown up to 4X, team size at 3X and has a customer base in across 60 countries.
Speaking on the latest development, Laxman Papineni, CEO, Outplay, stated –
“Outplay is committed to making outbound outreach data-driven so that sales teams are talking only to the warmest prospects at any given point across multiple channels, optimising time and resources. The continued partnership with Sequoia Capital India is a testament to the fact that the sales engagement space, which is poised to be a $5.59 billion market by 2023, is a huge opportunity for Outplay.”
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