[Funding alert] Sales enablement platform MindTickle raises $40M in Series C led by Norwest Venture Partners
San Francisco and Bengaluru-based MindTickle, which provides a comprehensive, data-driven sales readiness and enablement platform for onboarding, micro-learning, skills development and coaching, announced that it has raised $40 million in Series C funding led by Norwest Venture Partners.
The existing investors including Accel Partners, Canaan, NewView Capital - a spinout of New Enterprise Associates, and Qualcomm Ventures LLC also participated in the round.
As part of the deal, Scott Beechuk, Partner at Norwest Venture Partners, will join the company’s board of directors. This round brings MindTickle’s total funding raised to more than $81 million.
Krishna Depura, Co-founder and CEO of MindTickle, said,
“MindTickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer. Our Series C funding will fuel our strategic, long term growth plans while supporting ongoing investment in our expanding products and services.”
Using MindTickle, which looks to expand into Europe and Southeast Asia in the coming months, company leaders and sellers can continually assess, diagnose and develop the knowledge, skills, and behaviours required to effectively engage customers and drive growth.
The company claims that it is expanding its Fortune 500 and Global 2000 customer base by 200 percent and increasing annual recurring revenue by more than 100 percent year over year. Its clients include Sumo Logic, Square, Ola Cabs, Cloudera, MongoDB, Appdynamics, Procore, Qualtrics, MuleSoft, and Appier among others.
“MindTickle is successfully confronting one of the most complex issues facing today’s organizations — the ability to train and upskill customer-facing employees,” said Scott Beechuk, Partner at Norwest Venture Partners. “MindTickle has proven product-market fit for its mobile-first, readiness platform that engages employees and delivers perpetual micro-learning experiences.”
The company was started by Mohit Garg, Krishna Depura, Deepak Diwakar, and Nishant Mungali in August 2011. Previously, it received $27 million in Series B funding from Canaan Partners in December 2017.
(Edited by Saheli Sen Gupta)