Total amount raised
$1.1 Billion
Latest funding date
April, 2019
Location
Outreach has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform leverages AI to enhance sales productivity, offering a suite of tools designed to streamline sales workflows.
Keep reading to explore the intricacies of Outreach's fundraising journey and the investors backing this innovative platform.
What Is Outreach?
Founded in 2014, Outreach is a sales engagement platform headquartered in Seattle, Washington. The company leverages AI to optimize sales interactions and drive revenue growth.
Outreach was established by Andrew Kinzer, Gordon Hempton, Manny Medina, and Wes Hather. The platform is designed to manage customer interactions across various channels, including email, voice, and social media.
With a workforce of 501-1000 employees, Outreach serves thousands of customers, helping them achieve predictable and measurable growth through enhanced sales productivity.
How Much Funding Has Outreach Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and gain early traction in the market.
- Series A
- Amount Raised: $9.2M
- Date: October 2015
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $17.5M
- Date: June 2016
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $30M
- Date: May 2017
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in sales and marketing.
- Series D
- Amount Raised: $65M
- Date: May 2018
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and further product innovation.
- Series E
- Amount Raised: $114M
- Date: April 2019
- Lead Investors: Lone Pine Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and enhance AI capabilities.
- Series F
- Amount Raised: $50M
- Date: June 2020
- Lead Investors: Sands Capital Ventures
- Valuation at Round: $1.33B
- Motivation Behind the Round: To meet growing demand and support remote work trends.
- Series G
- Amount Raised: $200M
- Date: June 2021
- Lead Investors: Premji Invest, Steadfast Capital Management
- Valuation at Round: $4.4B
- Motivation Behind the Round: To scale sales and marketing efforts, explore new markets, and continue hiring.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $487M
Current Valuation: $4.4B
Key Investors
- Premji Invest
- Details: Premji Invest is a private equity and venture capital firm managed by Azim Premji, the founder of Wipro. The firm focuses on long-term investments in high-growth companies.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Flipkart, PolicyBazaar.
- Steadfast Capital Ventures
- Details: Steadfast Capital Ventures is a venture capital firm that focuses on growth-stage investments. The firm aims to support companies that are critical components of their workflow and tech stack.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm known for investing in early and growth-stage companies. The firm has a history of backing some of the most successful tech companies globally.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, Oracle, YouTube, Instagram, WhatsApp.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. The firm focuses on technology and consumer sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify, ByteDance.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. The firm aims to support the next generation of enterprise technology.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Box, DocuSign, Twilio, Zoom.
What's Next for Outreach?
Outreach stands at the cusp of significant growth opportunities, driven by the increasing demand for AI-driven sales engagement tools. With a robust platform that integrates sales engagement, conversation intelligence, and revenue intelligence, the company is well-positioned to expand its market reach and scale its operations. The recent $200 million funding round, which brought its valuation to $4.4 billion, underscores the immense potential for further growth and market penetration.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Premji Invest, Steadfast Capital Ventures, and Salesforce Ventures. These funds will likely be channeled into scaling sales and marketing efforts, exploring new markets, and enhancing AI capabilities. However, Outreach may face challenges such as maintaining growth momentum in a competitive market and effectively integrating new hires and technologies. Navigating these complexities will be crucial for sustaining its upward trajectory.
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Sales professionals looking to gain a competitive edge should leverage Clay's platform to access comprehensive fundraising data on companies like Outreach and gather other critical business insights. Sign up for free today and unlock the potential of data-driven decision-making for your sales strategies.
