Sales-readiness platform MindTickle has raised $27 million in Series-B funding led by Canaan Partners with participation from existing investors Accel Partners, New Enterprise Associates (NEA), and Qualcomm Ventures. The six-year-old company plans to use this fund for product innovation and global expansion.
MindTickle’s total amount raised is now $41.3 million. (MindTickle had earlier raised angel investment from senior executives of WhatsApp and Google and was recently recognised among most promising TiE 50 tech startups in 2015.)
MindTickle was started by Mohit Garg, Krishna Depura, Deepak Diwakar, and Nishant Mungali in August 2011. Their Software-as-a-Service (SaaS) platform combines micro-learning, social learning, gamification, and mobile etc., with a data-driven approach to make the sales and customer success departments more productive.
The company has a global sales presence with headquarters in San Francisco and operations team in India. They claim that their products have been deployed by more than 100 companies – including Philips, Olacabs and Cloudera - with over 1,50,000 users.
In a press release, CEO Depura has said, “In today’s dynamic and highly competitive environment, companies need to prepare their sales teams like never before. This additional funding will allow us to accelerate the vision we share with our customers for data-driven sales enablement.”
MindTickle claims to enable sharing resources such as pitches, presentation decks, and product updates in real time. This allows companies to keep their sales representatives up to date on the latest product features, objection handling and customer success stories.
"Sales readiness is the single most important metric that every public company CEO is paying attention to and the best predictor of future performance,” said Joydeep Bhattacharyya, Partner at Canaan, who has joined MindTickle’s board of directors. “MindTickle is the leader in this new massive area of applications for sales teams, with tremendous customer adoption.”
Companies leveraging MindTickle for sales enablement to assess and certify the readiness of each rep see bigger deal sizes, higher win rates and reduced sales cycles. MindTickle also employs social tools and gamification to tap into sales teams’ inner competitiveness and improve usage rates. MindTickle integrates with Salesforce.com, thus eliminating the need for a separate username and password.