[Funding alert] San Francisco-based startup Outplay raises $7.3M Series A round led by Sequoia Capital India
San Francisco-based multi-channel sales engagement platform Outplay on Wednesday said it raised $7.3 million in a Series A round led by Sequoia Capital India.
The startup will use the capital to invest in technology and hiring talent across the world, it said in a press note.
Speaking on the development, Laxman Papineni, CEO, Outplay, said,
“Outplay is committed to making outbound outreach data-driven so that sales teams are talking only to the warmest prospects at any given point across multiple channels, optimising time and resources. The continued partnership with Sequoia Capital India is a testament to the fact that the sales engagement space, which is poised to be a $5.59 billion market by 2023, is a huge opportunity for Outplay.”
The Outplay Team
Founded in 2019, Outplay aims to bring predictability to outbound sales and help salespeople talk to the right prospect at the right channel.
The startup said outbound sales teams typically use high-volume tactics to drive revenue. However, this approach is not scalable, and the revenue eventually becomes a function of the size of the outbound sales team.
Outplay platform helps outbound sales teams plan, execute, track, measure, and optimise interactions between companies and their prospects across multiple channels, including email, phone, SMS, social media, and live chat.
The platform also offers support to ensure software adoption across customer teams is done within days. Since its seed funding of $2 million from Sequoia Capital India’s Surge early this year, the startup has grown 4X in revenue, 3X in team size, and has customers in more than 50 countries.
"Outbound sales needs are evolving rapidly, and reps now need personalised, automated, and contextual tools to drive sales, which Outplay is successfully enabling. Sales reps spend an average of four hours per day on Outplay, demonstrating the effectiveness of the product, which has category-leading customer reviews," Harshjit Sethi, Principal, Sequoia India, said.
He added, "Additionally, rapid digitisation due to COVID-19 has been a significant accelerant for the business, and we believe these tailwinds will continue as outbound sales become more digital."