The company's proceeds from the investment round will be used to accelerate market demand for its Revenue Intelligence Platform, reinforce its market leadership, and invest in its product, engineering, and go-to-market teams
FREMONT, CA: Revenue intelligence platform leveraging Artificial Intelligence (AI) to transform revenue teams, Gong, secure USD 200 million in a Series D funding round led by Coatue, with participation from Index Ventures, Salesforce Ventures and Thrive Capital, and existing investors Battery Ventures, NextWorld Capital, Norwest Venture Partners, Sequoia Capital, and Wing Venture Capital. The latest round of funding brings the company's valuation to USD 2.2 billion, and the total raised Capital to USD 334 million. The Series D investment round follows the company's USD 65 million Series C round announced in December 2019.
"The firm's solution uses AI and voice recognition to understand what is being said on a call and analyzes it according to the set parameters, based on the call close rates of the top sales professionals in the company. Gong sifts through the call data quickly, without having people actually monitor the calls, and then creates personal suggestions for every sales person to help adjust their pitch, behavior, and other patterns in order to match those of the top professionals," said Amit Bendov, CEO of Gong.
The company's proceeds from the investment round will be used to accelerate market demand for its Revenue Intelligence Platform, reinforce its market leadership, and invest in its product, engineering, and go-to-market teams. Co-founded by Amit Bendov, CEO, and Eilon Reshef, Chief Product Officer, Gong provides a platform that captures and understands every customer interaction, then delivers insights at scale, empowering revenue teams to make decisions based on data instead of opinions. Over 1,200 innovative companies like Zillow, Slack, PayPal, Twilio, Autodesk, Shopify, Hubspot, SproutSocial, Zoominfo, Outreach, MuleSoft, and LinkedIn currently use it.
Gong was listed as one of the Top Sales Technology Solution Providers for 2017 by CIO Applications magazine. The company's software helps companies make better decisions that are based on reality, not opinions. It automatically captures the full range of a company's interactions with customers - via emails, web conference calls, phone calls, and more - reducing the risk of incomplete or data. Gong then uses patented AI technology to understand what exactly is being said in these customer interactions. "Revenue intelligence is an exciting category in sales technology," said Alex Kayyal, Partner at Salesforce Ventures. "We were impressed with Gong's strong market traction and the resounding enthusiasm expressed by their customers."