Seattle-based sales tech startup Outreach lands $200 million in funding, pushing its valuation to $4.4 billion
Outreach, a Seattle, Washington-based sales engagement platform, has just landed $200 million in Series G funding. The round was co-led by new investors, Premji Invest and STEADFAST Capital Ventures. To date, Outreach has raised a total of $489 million in funding. The latest round also pushes the company’s valuation to $4.4 billion, making it one of the top 500 unicorn startups.
The announcement comes just about a year ago after the unicorn startup raised $50 million in Series F funding at a $1.33B valuation. Outreach will use the funding proceeds to further strengthen the company’s position as a leading sales technology platform while accelerating market expansion and growth.
Founded in 2011 by Andrew Kinzer, Gordon Hempton, Manny Medina, and Wes Hather, Outreach has built a suite of software to help with sales engagement. Its software is used by salespeople to help identify and reach out to prospects and improve their relationships en route to closing deals.
“This past year represents a true moment of maturity for Outreach – we are now a mission-critical part of the revenue tech stack for customers,” said Manny Medina, CEO and co-founder of Outreach. “The bets we made years ago, including significant investments in artificial intelligence combined with prospecting, closing and customer success capabilities integrated into one holistic platform, are what revenue organizations need most right now to be successful. We continue to lead and expand the vision for sales engagement. Now, we are poised to deliver more meaningful business outcomes for our customers than ever before – from the rep to the CRO, and from small businesses to the enterprise.”
The funding news comes after a year of explosive growth for Outreach, where momentum was accelerated by global shifts to remote and digital selling. Outreach grew Q1 ARR by more than 100% year-over-year and is now used by many of the world’s leading revenue organizations, including 18 of the top 25 fastest-growing public software companies. Outreach’s sales engagement and intelligence platform leverages the world’s largest B2B buyer-and-seller engagement dataset, capturing billions of sales interactions, to enable sales leaders and their teams to more effectively engage customers, forecast with confidence, and close deals faster.