[Funding alert] MindTickle raises $100M led by SoftBank
Pune and San Francisco-based tech startup, which helps companies improve their sales, has raised $100 million funding in a combination of equity and debt financing led by SoftBank.
The existing investors of MindTickle - Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures also participated in the round.
MindTickle said it will use the fresh capital to accelerate its go-to-market activities and expansion of global operations while advancing investments in product innovation.
The investment into MindTickle by SoftBank Vision Fund 2 is its first such investment into a SaaS company by the India team.
Prior to this funding, MindTickle raised $40 million in Series C round in July 2019 led by Norwest Venture Partners.
“Our mission is to help companies transform the capabilities and behaviours of their teams to generate a meaningful and measurable impact on their revenue and brand,” said Krishna Depura, Co-founder and CEO of MindTickle.
The co-founder emphasised that it has witnessed strong demand and usage growth from enterprise sales over the last few quarters.
MindTickle’s SaaS platform enables customer facing teams of enterprises in areas such as onboarding, ongoing learning, role-playing, upskilling, and coaching to ensure that all have the right capabilities and behaviours needed to drive revenue growth.
“We have been impressed by MindTickle’s vision of closing the capability loop and bringing deep insights and actionable intelligence to revenue and business leaders,” said Munish Varma, Managing Partner at SoftBank Investment Advisers.
According to MindTickle, more than 200 enterprises, including 40 of the Fortune 500 and Forbes Global 2000, have achieved significant, measurable improvement in revenue metrics, such as ramp time, quota attainment, and win rate. The company leverages AI and machine learning engines to provide personalised remediations and it has also gamification techniques on its platform.
“MindTickle’s track record of growth, quality of product, and marquee customer base highlights their strengths,” said, Sumer Juneja, Partner at SoftBank Investment Advisers.