Groove raises $ 45 million in Series B fundraising led by Viking Global Investors

0

SAN FRANCISCO – (COMMERCIAL THREAD) – Groove, the leading business engagement platform for companies using Salesforce, today announced it has raised $ 45 million in Series B funding, led by Viking Global Investors. Existing investors Capital One Ventures, Level Equity, Quest Venture Partners and Uncork Capital also participated in the round. Groove plans to use the funding to expand its international operations and accelerate its momentum in the enterprise segment of the market, having increased the company’s ARR by 114% over the past twelve months with new clients that include Activision, iHeartMedia, LexisNexis, New Relic, TIBCO, Veeva and Wintrust.

The global shift to digital selling in the wake of the pandemic is driving convergence in two of the fastest growing categories of sales technology: sales engagement and revenue operations. As businesses look to manage large, distributed revenue teams, they look for platforms that integrate the productivity benefits of workflow automation with the information gleaned through revenue mining software.

Digital selling has also revealed a key weakness in most businesses’ Salesforce deployments: lack of adoption. In fact, an August 2021 Forrester Consulting State of CRM study, commissioned by Salesforce, found that 57% of respondents struggled to maintain good customer experiences because their CRM systems weren’t well integrated or accessible. Groove addresses this accessibility issue by meeting salespeople where they already work, increasing rep productivity while ensuring over 90% Salesforce adoption.

“This notion of a sales engagement platform as a cockpit for sellers is likely to continue to lead to new integrations between other categories of sales technology and these platforms, as the benefits of bringing everything to the seller where they sell (the original vision of CRM technology) is becoming more widely recognized, ”said Anthony McPartlin, senior analyst at Forrester Research in a recent blog post.

Groove is the only sales engagement platform that seamlessly integrates into the workflows of existing sellers, increasing the use and adoption of Salesforce. Groove’s industry-leading vendor adoption rates enable organizations to leverage comprehensive, comprehensive data to run a more accurate, predictive, and efficient GTM process.

“Our corporate customers want to empower the modern seller while ensuring the highest levels of corporate security and compliance,” said Chris Rothstein, co-founder and CEO of Groove. “We capture a significant share of the business market of our competitors because our platform was designed for the needs of large, complex organizations that rely on Salesforce as a system of record. We bring automation to the seller instead of requiring them to work from a separate system. This flexibility ensures extremely high user adoption rates, even with anti-tech vendors in non-tech industries. ”

Over the past year, Groove has extended its revenue intelligence capabilities with automatic contact capture, real-time opportunity and pipeline management, and improved ROI reporting. With this extended set of capabilities, Groove empowers revenue managers to make real-time, data-driven business decisions based on sales engagement outcomes across a variety of roles, teams and backgrounds. divisions.

“Our sales operations have been transformed through Groove,” said Matthew Mullin, senior director of global marketing and technology operations at Tenable. “Our salespeople have productivity tools and workflow automation that make them more efficient at their jobs, and we can now rely on accurate, real-time data in Salesforce to make informed decisions.

Groove won the TrustRadius “Best Of” award in 2021 for best usability, feature set, and best customer service in the sales engagement category, and was the most successful sales engagement platform. top rated on G2 for three consecutive years.

About Groove

Groove is the leading business engagement platform for companies using Salesforce. Designed for the needs of relationship-based salespeople, Groove increases rep productivity, drives Salesforce adoption, and provides revenue managers with key insights into what drives their business. Because Groove is native to Salesforce, it features the most advanced activity capture in the industry, ensuring revenue teams can rely on accurate reporting and forecasting, reduced compliance risk, and streamlined administration. . Whether it’s automating CRM data entry or allowing sales reps to build a pipeline and close more deals, Groove enables sales reps to recoup 20% of their week to focus on high-volume activities. added value.

More than 70,000 people use Groove in some of the world’s largest and fastest growing companies, including Google, BBVA, Atlassian, Uber and Capital One. Groove has been ranked # 1 for customer satisfaction on G2 in five sales technology categories and has been on the Inc. 5000 list of the fastest growing private companies in the United States for three consecutive years. To learn more, visit https://groove.co.


Source link

Share.

About Author

Leave A Reply