Total amount raised
$49.6 Millions
Latest funding date
01/01/2022
Location
Scratchpad has successfully raised significant funding over multiple rounds, positioning itself as a key player in the AI-driven sales enhancement space. The platform leverages advanced AI to streamline sales processes, reduce administrative burdens, and improve CRM data quality.
Keep reading to explore the intricacies of Scratchpad's fundraising journey and the investors backing this innovative platform.
What Is Scratchpad?
Scratchpad is an AI-driven platform designed to enhance sales efficiency and CRM hygiene. Founded by Pouyan Salehi and Salehi, the company has grown rapidly since its inception. Based in San Francisco, Scratchpad employs a dedicated team of professionals committed to revolutionizing sales processes.
How Much Funding Has Scratchpad Raised?
- Seed Round
- Amount Raised: $3.6 million
- Date: October 2019
- Lead Investors: Accel
- Motivation Behind the Round: Initial funding to develop the product and simplify Salesforce data entry.
- Series A Round
- Amount Raised: $13 million
- Date: February 3, 2021
- Lead Investors: Craft Ventures
- Motivation Behind the Round: To accelerate the product roadmap and develop team workspaces due to significant user growth.
- Series B Round
- Amount Raised: $33 million
- Date: January 25, 2022
- Lead Investors: Craft Ventures, Accel
- Motivation Behind the Round: To support product expansion, increased usage, and sales, and to further develop the revenue team workspace concept.
Total Amount Raised: $49.6 million. Current Valuation: Not publicly disclosed.
Key Investors
- Craft Ventures
- Details: Craft Ventures is a venture capital firm co-founded by David Sacks, known for its focus on early-stage and growth-stage technology companies. The firm led Scratchpad's Series A and Series B funding rounds.
- Investment Focus Areas: Technology, SaaS, consumer internet.
- Notable Investments: Airbnb, SpaceX, Slack.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. They have been involved in multiple funding rounds for Scratchpad, including the seed, Series A, and Series B rounds.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Facebook, Dropbox, Spotify.
- Sound Ventures
- Details: Sound Ventures is a venture capital firm co-founded by Ashton Kutcher and Guy Oseary. The firm participated in Scratchpad's seed funding round.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Airbnb, Uber, Spotify.
- Shrug Capital
- Details: Shrug Capital is a venture capital firm that focuses on early-stage startups. They participated in Scratchpad's seed funding round.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Individual Investors
- Details: Several individual investors have also backed Scratchpad, contributing to its seed funding round. These investors bring diverse expertise and networks to the table.
- Investment Focus Areas: Varies by individual.
- Notable Investments: Specific notable investments are not mentioned in the sources.
What's Next for Scratchpad?
Scratchpad's future is brimming with opportunities. The company is poised to expand its product to provide comprehensive access to sales data for entire revenue teams, a move that could significantly increase its penetration within customer companies. With tens of thousands of users across thousands of companies, the potential for growth is immense.
As Scratchpad continues to grow, future fundraising opportunities are likely. The company's successful product expansion and growing user adoption have already attracted significant investor interest, suggesting that additional funding rounds could be on the horizon. However, Scratchpad will need to navigate challenges such as competition from other sales tools and maintaining user engagement while scaling its operations.
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