Showpad closes $50M Collection C to continue to grow its SaaS gross sales productiveness platform
SaaS startup Showpad which has constructed a platform designed to enhance different companies’ gross sales productiveness has closed a $50 million Collection C funding spherical, led by Perception Enterprise Companions — with IVP MD Jeff Horing now becoming a member of the Showpad board. Present Showpad buyers Daybreak Capital and Hummingbird Ventures additionally participated within the funding spherical.
The Belgium-based mostly firm, which additionally has workplaces in San Francisco and London, makes a b2b platform to ship advertising content material to gross sales representatives to allow them to current extra polished and up-to-date pitches on the coal face of promoting by way of cellular units.
Whereas, on the flip aspect, the advertising division will get to trace which content material has the most important impression on the purchasers gross sales reps are speaking to — with the promise being improved ROI on that advertising content material.
The 2011 based cellular-first startup was a comparatively early mover within the consumerization of IT development, powered by the rise of units such because the Apple iPad being pulled into the enterprise sphere.
Showpad touts simplicity as its promoting level vs conventional file sharing methods, portals and CRMs — with its platform permitting customers to tug in related advertising content material from different storage providers the place it could be siloed, resembling Field, Dropbox and Google Drive, and showcase, handle and monitor efficiency on a single platform.
It additionally now dubs itself a “content material activation platform”, albeit that’s a fancier means of claiming it makes “advertising, channel and gross sales enablement” software program.
The corporate says it has been greater than doubling income for the final 4 years, and now has greater than 850 clients in a number of markets at this level — identify-checking the likes of Johnson & Johnson, GE, Coca-Cola Enterprises, Xerox, Kimberly-Clark, and Bridgestone.
It claims one in every of its largest clients — Engi — has seen a 25 per cent improve in gross sales rep productiveness because of utilizing its platform. Whereas greater than one hundred,000 gross sales have apparently been made by way of Showpad so far.
Showpad integrates with different providers to increase the platform’s utility by plugging into different apps the place gross sales reps may be spending a variety of their time. Immediately it’s saying two new integrations: Gmail and Salesforce, with the Gmail integration letting gross sales reps entry Showpad content material inside the e-mail shopper to create personalised emails. Whereas the Salesforce integration lets customers create contacts or leads in Salesforce with out leaving Showpad.
Showpad final raised an $eight.5 million Collection B in November 2014 — when it was reporting $four.5 million in annual recurring income. So in the event that they’ve been roughly doubling income yearly they need to have handed the $10M income mark at this level.
The startup raised a $2 million Collection A spherical again in March 2013.
Commenting on the funding spherical in a press release, IVP’s Jeff Horing stated: “Showpad is a strong answer for advertising and gross sales organizations, and we’re thrilled to companion up and allow their clients to leverage their content material extra successfully and enhance their advertising effectiveness and gross sales productiveness.”