Mindtickle latest unicorn after funding led by SoftBank; valued at $1.2 bn

Sales readiness platform Mindtickle became the latest unicorn on Thursday when it raised an additional $100 million in the Series E funding round. SoftBank led the round that saw participation from existing investors Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures. Mindtickle had raised $100 million in November last year. The startup is now valued at $1.2 billion with a total $281 million in funding.

“Revenue leaders understand that sales readiness is a mission-critical component of their strategy to consistently meet or exceed their goals,” said Krishna Depura, Mindtickle CEO and co-founder.

The company helps companies such as Johnson & Johnson, and Wipro be ready to grow revenue by increasing knowledge, understanding ideal sales behaviors, and adapting to change. Mindtickle said that dozens of Fortune 500 and Forbes Global 2000 companies use their services.

Revenue leaders are increasing investing in sales readiness platforms as they face unprecedented challenges, it said. Average sales quota attainment has dropped from 63 per cent to 43 per cent in the past decade in S&P 500.

The startup helps companies understand ideal sales behaviours, increase seller knowledge and skill sets and incorporate real-world feedback from meetings with customers. The platform offers content management, conversation intelligence, performance analytics, and coaching solutions in one place.

Sales enablement technologies are projected to grow to $4.23 billion by 2027, and the conversation intelligence market will reach $13 billion by 2025, the company said.

Also read: Recent unicorn Innovaccer aims to grow at 100% y-o-y
Also read: BharatPe raises $370 mn to become unicorn; valued at $2.85 bn