Total amount raised
$644.9 Millions
Latest funding date
7/1/2022
Location
Highspot has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of AI-driven sales enablement tools designed to enhance sales team performance and business outcomes.
Keep reading to delve into the details of Highspot's funding journey and discover the key investors supporting this innovative platform.
What Is Highspot?
Highspot, founded in 2012, is headquartered in Seattle, Washington. The company was established by David Wortendyke, Oliver Sharp, Robert Wahbe, and Scot Gellock.
Highspot offers a unified, AI-driven sales enablement platform designed to improve sales productivity, increase go-to-market efficiency, and accelerate business results. The platform is trusted by global enterprise companies and is recognized as a leader in the industry.
With a workforce of 1001-5000 employees, Highspot provides intelligent content management, training, contextual guidance, customer engagement, and actionable analytics to help companies worldwide enhance their sales team performance.
How Much Funding Has Highspot Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their sales enablement platform.
- Debt Financing
- Amount Raised: $2.3M
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for early-stage operations.
- Series A
- Amount Raised: $9.6M
- Date: November 2014
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development and market reach.
- Series B
- Amount Raised: $15M
- Date: June 2017
- Lead Investors: Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series C
- Amount Raised: $35M
- Date: September 2018
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series D
- Amount Raised: $60M
- Date: June 2019
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI-driven features and expand market presence.
- Series D
- Amount Raised: $75M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance product offerings.
- Series E
- Amount Raised: $200M
- Date: February 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Approximately $2.3 billion
- Motivation Behind the Round: To expand internationally and invest in product development.
- Series F
- Amount Raised: $248M
- Date: January 2022
- Lead Investors: B Capital, D1 Capital Partners
- Valuation at Round: $3.5 billion
- Motivation Behind the Round: To hire additional workers, expand globally, and enhance marketing operations.
- 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 for early investors and employees.
Total Amount Raised: $644.9M. Current Valuation: $3.5 billion.
Key Investors
- B Capital Group
- Details: B Capital Group is a global investment firm that partners with extraordinary entrepreneurs to shape the future through technology. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Technology, healthcare, financial services, consumer products.
- Notable Investments: Bird, Evidation Health, Ninja Van.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that operates across public and private markets. They are known for their flexible investment approach and deep sector expertise.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Stripe, Instacart, SpaceX.
- ICONIQ Growth
- Details: ICONIQ Growth is a tech-focused investment firm that supports companies at various stages of growth. They leverage a unique network of influential business leaders.
- Investment Focus Areas: Technology companies at various stages of growth.
- Notable Investments: Snowflake, Uber, Zoom.
- Madrona Venture Group
- Details: Madrona Venture Group is a venture capital firm that invests in early-stage technology companies, particularly in the Pacific Northwest. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Early-stage technology companies, particularly in the Pacific Northwest.
- Notable Investments: Amazon, Smartsheet, Redfin.
- Salesforce Ventures
- Details: Salesforce Ventures is the global investment arm of Salesforce, focusing on enterprise cloud companies. They provide funding and strategic support to help companies grow.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: DocuSign, Twilio, Zoom.
What's Next for Highspot?
Highspot stands at the cusp of significant growth opportunities, driven by the increasing demand for AI-powered sales enablement tools. With a nearly tenfold revenue increase over the past three years and a $3.5 billion valuation, the company is poised to expand its international footprint and enhance its product offerings. The global sales enablement market, expected to grow to $7.3 billion by 2028, presents a vast opportunity for Highspot to capture a larger market share.
Future fundraising rounds seem likely as Highspot continues to attract substantial investments from prominent venture capital firms. The company’s impressive growth metrics and market demand suggest potential for further funding to support its expansion and innovation efforts. However, Highspot may face challenges such as intense competition from other AI-driven platforms and the need to scale operations while maintaining high-quality service. Ensuring continuous innovation will be crucial for staying ahead in the rapidly evolving sales enablement industry.
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