Outreach, a Seattle, WA-based company that creates workflow tools for sales teams, raised $2.3m in seed funding.
Backers included Mark Sugarman of MHS Capital, Mike Maples of Floodgate, Version One Ventures, Sarah Imbach–former CRO of LinkedIn, and Ellen Levy–former VP of corporate development at LinkedIn.
The company intends to use the funds to continue developing tools, increase the customer base and hire developers and marketing people.
Led by Manuel Medina, Andrew Kinzer, Wes Hather and Gordon Hempton, Outreach provides a platform that automates and optimizes workflow through sequences that allow users to create a cadence of emails and calls for all sales prospects that can be manually automated. These sequences can be customized to follow precise intervals and time blocks for communication to be delivered.
It can then detect replies and update the CRM based on interactions in the platform.
FinSMEs
04/05/2015
Press Release
SEATTLE, Wash. — May 4, 2015 — Outreach, a Seattle based company that creates workflow tools for sales teams, today announces its seed round of $2.3 million. After amassing over 200 clients in less than 4 months and doubling the company’s monthly recurring revenue (MRR) each month without any marketing, the team at Outreach decided to raise a round to fuel their growth and expansion plans for the coming year. The newest investors in the company are Mark Sugarman of MHS Capital and Mike Maples of Floodgate with participation from Version One Ventures, Sarah Imbach–former CRO of LinkedIn, and Ellen Levy–former VP of corporate development at LinkedIn.
“Outreach has zeroed in on a real problem and clearly possesses the team to execute,” said new investor, Mike Maples of Floodgate. “We’ve connected with a number of players in the sales communication and workflow space and Outreach is clearly the leader with the most sophisticated platform and vision.”
The Outreach platform automates and optimizes workflow through sequences that allow users to create a cadence of emails and calls for all sales prospects that can be manually automated, fundamentally scaling the personal sales touch. These sequences can be customized to follow precise intervals and time blocks for communication to be delivered. Outreach can then detect replies and update the CRM based on interactions in the platform.
Current client, Fliptop, saw its sales activity double within the first couple of weeks of use without hiring any additional sales reps or implementing any other programs. Outreach has also had proven success in Account Based Sales with current user, Cloudera, who plans to roll out the Outreach program to its entire SDR team this year. With this kind of success for Fliptop, Cloudera, and Outreach’s 200+ other clients, it was easy for the new investors to get on board with the company and its product.
“What got us excited about Outreach was the level of devotion they built in their customer base,” said Mark Sugarman of MHS Capital. “We spoke with many of their customers who had tried several solutions, but every one of them loved Outreach. We couldn’t find an unhappy customer.”
A multitude of customers have switched or adopted Outreach as their main sales communication platform. The inclusive system’s bi-directional CRM integration, which ensures the sales process is followed, prospects do not fall through the cracks, and sales representatives are able to concentrate on responsive prospects, has been the main contributor to Outreach’s rapid adoption.
Outreach will use the new funds to continue developing tools that will help sales teams be more efficient and increase the number of deals a sales rep can close. Focus will also be pointed towards continual increase in Outreach’s customer base as well as new developer and marketing hires planned for its Seattle office.
About Outreach
Through its sales automation platform, Outreach helps sales teams to achieve a 3x increase in lead to opportunity conversions. With bi-directional CRM integration, Outreach ensures that the sales process is followed with every inbound or outbound lead every time, making it impossible for any lead to fall through the cracks and freeing sales teams to concentrate on responsive prospects. Outreach offers a product and process that guarantees growth and results quickly and for the long term.
For more information visit: www.outreach.io