The latest funding, which brings Seismic’s valuation to $3 billion and total raised to $440 million, comes as the company acquires Lessonly, an Indianapolis, Indiana-based developer of sales training, coaching, and enablement solutions.
Fremont, CA: Seismic, a sales enablement and marketing orchestration platform based in San Diego, California, closed a $170 million series G round led by Permira, JMI Equity, Lightspeed Venture Partners, Jackson Square Ventures, Ameriprise, and funds and accounts advised by T. Rowe Price. The latest funding, which brings Seismic’s valuation to $3 billion and total raised to $440 million, comes as the company acquires Lessonly, an Indianapolis, Indiana-based developer of sales training, coaching, and enablement solutions.
The sales enablement platform market, which is expected to be worth $2.6 billion by 2024, continued to grow throughout the pandemic, primarily driven by the shift to remote work. As trends like remote selling and buying accelerated, enterprises invested in software with the notion that these new ways of doing business were going to stick around post-pandemic. Over 41 percent of salespeople now say that their phone is the most effective sales tool at their disposal.
Seismic was founded in 2010 by friends and colleagues Doug Winter, Ed Calnan, Fred Xie, Marc Romano, and Nasser Barghouti. In a nutshell, the platform aims to make sales teams more productive and engaged with buyers by delivering guidance to improve behavior, content, and skills.
“[We] recognized the challenges and disconnect between marketing and sales teams to drive revenue together for larger enterprises,” CEO Winter, a former Dell EMC VP, said. “This was before ‘sales enablement’ became a well-known term. Since then, we’re proud to have built this business to become the global leader in sales enablement with more than 1,300 employees across 13 different offices — now with Lessonly — around the world. Today, our customers range from emerging startups to some of the world’s largest and most successful organizations, and we’re excited to welcome Lessonly and its 1,200 customers to the Seismic family. Of the five original founders, four are still helping lead the company — Romano, Calnan, Xie, and myself.”