MindTickle, a San Francisco and Bengaluru-based sales enablement platform, announced raising $100 million in a new financing round led by SoftBank Vision Fund 2.
The latest round, which is a combination of equity and debt financing, also saw the participation of existing investors namely Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm, according to the announcement.
The round values the company at a reported $500 million, from about $250 million last year, when it raised $40 million in a Series C funding round led by Norwest Venture Partners.
MindTickle was founded by Mohit Garg, Krishna Depura, Deepak Diwakar, and Nishant Mungali in 2011. The company said it will use the fresh funding to accelerate its go-to-market activities and finance the expansion of its global operations.
Leveraging AI and machine learning engines, MindTickle provides data-driven solutions for sales readiness and enablement to dozens of Fortune 500, Global 2000 companies, and hundreds of other firms worldwide. These firms use MindTickle to drive programs, such as onboarding, ongoing learning, role-playing, upskilling, and coaching.
“Our mission is to help companies transform the capabilities and behaviors of their teams to generate a meaningful, measurable impact on their revenue and brand,” said Krishna Depura, the company’s co-founder and CEO.
Depura added that MindTickle has witnessed strong demand for its services as customers become increasingly demanding and remote work becomes more common, prompting organisations to reskill and upskill their workers.
With the fresh funding, MindTickle is developing new product features and further expand the US, one of its key markets, and in Europe.
Meanwhile, SoftBank said its investment in MindTickle comes at a time when it sees a paradgim shift in sales readiness as enterprises face the new reality of hybrid-remote work.
“We have been impressed by MindTickle’s vision of closing the capability loop and bringing deep insights and actionable intelligence to revenue and business leaders,” said Munish Varma, managing partner at SoftBank Investment Advisers.
Last year, MindTickle secured $40 million in a Series C funding round led by Norwest Venture Partners with participation from Accel Partners, Canaan, NewView Capital, a spinout of New Enterprise Associates, and Qualcomm Ventures LLC.
