Total amount raised
$583 Millions
Latest funding date
7/1/2022
Location
Gong has successfully raised significant funding over multiple rounds, establishing itself as a key player in the revenue intelligence space. The platform offers a comprehensive suite of tools designed to centralize and optimize revenue workflows through AI-driven insights.
Keep reading to delve into the details of Gong's fundraising journey and the investors who are fueling its growth in the competitive landscape of revenue intelligence.
What Is Gong?
Gong, founded in 2015, is a leading company in the revenue intelligence space. The company was established by Amit Bendov and Eilon Reshef and is headquartered in San Francisco, California.
Gong's platform leverages AI to provide actionable insights that enhance sales performance and streamline revenue workflows. The company has grown rapidly and now employs over 1,000 people across multiple global offices.
With a strong focus on innovation, Gong continues to be a trusted partner for over 4,500 companies, helping them drive pipeline growth and improve forecast accuracy.
How Much Funding Has Gong Raised?
Seed Round
- Amount Raised: $6M
- Date: June 2016
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of Gong's platform and validate the market need for revenue intelligence solutions.
Series A
- Amount Raised: $20M
- Date: July 2017
- Lead Investors: Norwest Venture Partners, Shlomo Kramer
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
Series A (Extension)
- Amount Raised: $2M
- Date: March 2018
- Lead Investors: Cisco Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform's capabilities and support early customer acquisition.
Series B
- Amount Raised: $40M
- Date: February 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
Series C
- Amount Raised: $65M
- Date: December 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and invest in advanced AI capabilities.
Series D
- Amount Raised: $200M
- Date: August 2020
- Lead Investors: Coatue
- Valuation at Round: $2.2 billion
- Motivation Behind the Round: To support rapid growth and enhance the platform's features.
Series E
- Amount Raised: $250M
- Date: June 2021
- Lead Investors: Franklin Templeton
- Valuation at Round: $7.25 billion
- Motivation Behind the Round: To accelerate product development, hiring, and customer acquisition.
Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Gong has raised a total of $583M with a current valuation of $7.25 billion.
Key Investors
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization known for its expertise in mutual funds, ETFs, and other investment products. They provide investment solutions to clients in over 165 countries.
- Investment Focus Areas: Mutual funds, ETFs, technology, healthcare, financial services.
- Notable Investments: Diverse portfolio across technology, healthcare, and financial services.
- Coatue
- Details: Coatue is a technology-focused investment firm that invests in both public and private markets. They focus on sectors such as technology, media, telecommunications, and consumer.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: ByteDance (TikTok), DoorDash, Snap Inc.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They invest in companies that are part of the Salesforce ecosystem or have the potential to benefit from Salesforce's platform.
- Investment Focus Areas: Enterprise software, cloud computing, artificial intelligence.
- Notable Investments: Zoom, Twilio, DocuSign.
- Sequoia
- Details: Sequoia Capital is a venture capital firm known for investing in early-stage and growth-stage companies. They have a storied history with investments in some of the most successful tech companies.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, Airbnb.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that focuses on internet and software investments. They invest in companies that are transforming industries through technology.
- Investment Focus Areas: Technology, media, internet sectors.
- Notable Investments: Instagram, Stripe, Slack.
What's Next for Gong?
Gong stands at the cusp of a vast opportunity, driven by the increasing shift towards data-driven sales and digital interactions. With a valuation of $7.25 billion and a robust customer base of over 2,000 companies, the potential for growth is immense. The company is poised to expand its platform capabilities, enter new markets, and enhance its AI-driven insights, capitalizing on the growing demand for revenue intelligence solutions.
Future fundraising opportunities appear promising, given the strong investor interest and the company's rapid growth. Gong may attract further investments to scale its operations, innovate its product offerings, and support its expanding workforce. However, challenges such as competition, data privacy concerns, and maintaining the quality of insights as the platform scales will need to be navigated carefully.
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