San Francisco-based B2B sales intelligence and engagement platform Apollo.io, which has operations in India, has turned a unicorn after raising $100 million in its Series D funding led by Bain Capital Ventures (BCV) at a valuation of $1.6 billion, per an announcement.
Unicorn is a moniker used for privately-held companies valued at $1 billion and above.
The financing also saw the participation of existing investors Sequoia Capital, Tribe Capital, and Nexus Venture Partners. This investment brings the company’s total funding to approximately $250 million, it said in a statement.
The funds raised will help the company more than double its employee count to continue building its go-to-market (GTM) strategy, the statement added. Last year, Apollo.io had also announced that it will invest $30 million in India over the next two years, making it the startup’s research and development (R&D) hub.
The fresh round comes a year after Apollo.io raised $110 million in its Series C round led by Sequoia Capital in March 2022. Tribe Capital, Nexus, and NewView Capital also participated in the Series C round.
“In line with our mission to make world-class go-to-market solutions simple and accessible to all, we have experienced unprecedented product-led growth during a time of economic uncertainty,” said Tim Zheng, co-founder and CEO of Apollo.
“Our investors, led by Bain Capital Ventures, bring a new level of sophistication to the table that will accelerate Apollo.io’s journey from startup to scaleup. We look forward to expanding our offering for sales professionals to effectively target, engage, and convert buyers into long-lasting customers,” Zheng added.
Founded in 2015, Apollo.io provides sales and marketing teams with access to verified data for over 270 million B2B contacts, along with tools to engage and convert these contacts on one unified platform.
The company claims to have grown revenue 9x over the last two years and currently serves over 3 million GTM professionals at over 500,000 companies from startups to global enterprises including Qualtrics, Customer.io, and Census.