Total amount raised
$81.3 Millions
Latest funding date
July, 2019
Location
MindTickle has successfully raised significant capital through multiple funding rounds, attracting notable investors such as Qualcomm Ventures and Norwest Venture Partners. The platform offers advanced sales readiness and enablement tools designed to enhance the performance of sales teams.
Keep reading to explore the intricacies of MindTickle's fundraising journey and the investors backing this innovative platform.
What Is MindTickle?
Founded in 2011, MindTickle is headquartered in San Francisco, California, with an additional office in Pune, India. The company was established by Deepak Diwakar, Krishna Depura, Mohit Garg, and Nishant Mungali.
MindTickle specializes in providing sales readiness and enablement tools designed to enhance the performance of sales teams. Their platform offers a range of features including on-demand training, mobile updates, gamification, coaching, and role-play.
With a workforce of 501-1000 employees, MindTickle continues to innovate in the field of sales enablement, helping businesses close knowledge and skill gaps in their customer-facing teams.
How Much Funding Has MindTickle Raised?
- Seed Round
- Amount Raised: $1.8M
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need for sales readiness tools.
- Series A
- Amount Raised: $12.5M
- Date: November 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $27M
- Date: December 2017
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series C
- Amount Raised: $40M
- Date: July 2019
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in sales and marketing efforts.
- Series D
- Amount Raised: $100M
- Date: November 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the platform's capabilities.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for operational needs.
- Series E
- Amount Raised: $100M
- Date: August 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To accelerate growth and meet the increasing market demand for sales readiness technologies.
Total Amount Raised: $281.3M. Current Valuation: $1.2 billion.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a part of SoftBank Group Corp, a multinational conglomerate holding company. It focuses on investing in technology-driven companies that are leaders in their respective fields.
- Investment Focus Areas: Technology, telecommunications, internet.
- Notable Investments: Uber, WeWork, DoorDash.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital and growth equity investment firm. It invests in early to late-stage companies across a wide range of sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Spotify, Uber, BlueJeans.
- Canaan
- Details: Canaan is a venture capital firm that invests in early-stage technology and healthcare companies. It has a strong track record of identifying and nurturing innovative startups.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: LendingClub, Ebates, Match.com.
- NewView Capital
- Details: NewView Capital is a venture capital firm that focuses on growth-stage companies. It aims to support companies through their scaling phase with strategic investments.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Plaid, Segment, Duolingo.
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated. It focuses on early to growth-stage companies in the technology sector.
- Investment Focus Areas: Mobile technology, AI, IoT.
- Notable Investments: Zoom, Waze, Fitbit.
What's Next for MindTickle?
MindTickle stands at the cusp of significant growth opportunities, driven by the expanding market for sales readiness technologies. With the sales enablement market projected to reach $4.23 billion by 2027 and the conversation intelligence market expected to hit $13 billion by 2025, the company is well-positioned to capitalize on these trends. Leveraging its strong market position, MindTickle can expand its customer base among Fortune 500 and Forbes Global 2000 companies, enhancing its platform with AI innovations and personalized solutions.
Future fundraising opportunities appear promising, with the potential for additional investment rounds from both existing and new investors. This influx of capital could support MindTickle's aggressive growth and product development plans. However, the company may face challenges such as competition from other sales readiness platforms and the need to continuously innovate to stay ahead in a rapidly evolving market. Ensuring high levels of customer satisfaction and managing rapid growth will be crucial for maintaining its market leadership.
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