Seismic Raises $20M in round Led by means of device increase equity Fund
Bruce V. Bigelow, January 08, 2015
After tripling revenues in 2014, Encinitas, CA-based Seismic says today it has closed a $ 20 million spherical in collection B funding led via JMI equity, the expansion fairness firm that focuses on software and services and products.
Seismic was based in 2010 to improve what co-founder and CEO Doug iciness calls “gross sales enablement tool” that helps gross sales teams at giant firms close deals through continually updating their electronic gross sales and advertising materials with contemporary data. About half of Seismic’s customers are in financial services and products, where a variety of research and time is spent preparing deal presentations that additionally need to be monitored intently to verify regulatory compliance.
while winter says Seismic’s earnings tripled in 2014, he gained’t provide any explicit numbers on Seismic’s gross sales or shoppers. The suburban San Diego firm plans to make use of the capital infusion to amplify its own sales and marketing workforce, and to continue product building. Seismic has doubled its headcount in view that mid-2013, and now employs about fifty five folks in both San Diego and Boston.
winter was once prior to now a co-founding father of Objectiva device options, and endured to steer the industry after report Sciences bought Objectiva in 2004, and after EMC obtained document Sciences in 2008.
The Seismic founders self-funded the startup unless 2013, when the corporate raised $ 4.5 million in a sequence A round led by using Sigma West managing director Pete Solvik, who’s a Seismic board member. Sigma West also participated in the newest round, which brings the overall raised with the aid of Seismic to more than $ 24.5 million and provides JMI common accomplice Peter Arrowsmith to the board.
Like a number of issues, the web has introduced some dramatic modifications to the trade of corporate sales during the last 15 years. sales groups in this day and age don’t just knock on doorways like the reproduction computing device salesman of years earlier.
Seismic represents a continuation in a wave of cloud-based gross sales administration device that started with the rise of Salesforce (NYSE: CRM), and its rivals include Seattle’s Highspot (which raised $ 9.6 million just two months in the past), Mountain View, CA-based totally Fileboard, and San Francisco’s ClearSlide.
lately, big corporations still installation big gross sales groups, however iciness says, “undertaking tool is becoming more consumer-like, lighter and more uncomplicated to make use of.”
the enormous difference now in gross sales engagement instrument is that consumers are extra deeply trained about their market, wintry weather says. With know-how altering more or less frequently, they need to bear in mind those changes and how new services and products fluctuate. but consistent with Forrester analysis, most executive buyers bitch that salespeople cannot present relevant examples or case research.
because of this, iciness says, “We see a number of firms trying to put much more content into their advertising. You want to recognize much more about your purchaser. Seismic allows a salesperson to answer what a selected purchaser is on the lookout for and desires.”
winter says the “LiveSend” and “LiveShare” options of Seismic’s tool gives analytic insights that permit gross sales reps to see what sales materials a prospective buyer is studying, and how the patron is interacting with the content material. the company says this permits gross sales advertising groups to make sure that their supplies are targeted and used successfully, shortening the sales cycle, and toughen “win” charges and consumer delight.
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