Outreach developed a platform for analytics and sales promotion.
The startup helps companies increase their own productivity and provide smart and innovative interactions with customers.
Official website https://www.outreach.io/
Headquarter: Seatle, USA
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Legal structure: regulated Private Investment Fund under US SEC-regulated investment adviser management.
- Total funding: $490M
- Last round amount: $200M
- Las round valuation: $4.44B
- Last round date: June 2021
- Lead investors: Tiger Global Management, Salesforce Ventures, Sequoia Capital, Microsoft Ventures, Sands Capital
The company plans to deploy the raised funds in international expansion and increasing the share of clients from the small and medium-sized business segment.
Outreach — is a platform for analytics and sales promotion. The startup helps companies increase their own productivity and provide smart and innovative interactions with customers. Outreach is the only solution provider that combines sales engagement, call analytics, and revenue analytics in one platform. Over 4,500 companies, including market leaders such as Adobe, Tableau, DoorDash, Splunk, DocuSign, and SAP, are using unique AI-powered customer engagement products. The company is headquartered in Seattle, Washington.• Outreach products are used by 18 of the 25 fastest-growing public software companies in the US.
• The only sales engagement and analytics platform ranked in the Forbes Cloud 100 list.
• Outreach named one of the fastest-growing companies in North America in the Deloitte 2020 Technology Fast 500 ranking.
• The company recently introduced three innovative products, Kaia, Insights, and Success Plan to provide deeper insight into sales on its platform.
• In 2018 Outreach acquired Sales Hackers startup to improve media and event sales products.
According to a recent report from Grand View Research, Inc., the global sales analytics market is expected to reach $5.03 billion by 2027. The market is expected to grow at a CAGR of 10.5% CAGR from 2020 to 2027. One of the main market drivers will be the application of AI to analyze big data in sales.
Sales analytics is a submarket of the more global CRM industry, which was estimated at $41.93 billion in 2019 and is predicted to reach $96.39 billion by 2027, with a CAGR of 11.1% from 2020 to 2027.
Large businesses account for about 75% of the industry’s revenue. However, the SME segment is also expected to experience significant growth over the forecast period. One of the indicators of interest in this area is the stock price of Salesforce (NYSE: CRM) as one of the market leaders for the CRM industry. Investors put their trust in the development of the market, which has lifted the company’s shares by 30% over the past 6 months. Venture investors are also showing interest, one of the company’s competitors — Clari platform, attracted $150 million in March 2021 with an estimate of $1.6 billion valuations.
Founders and management
Manny Medina founded Outreach in 2014 and currently is a CEO. Prior to Outreach, Manny was the third employee on the Amazon AWS team and has also led Microsoft’s mobile division since its launch. He also holds an MBA from Harvard University and an MBA from the University of Pennsylvania.Management:
• De la Vega, former vice chairman of AT&T Inc., where he was responsible for global business operations, took over as COO at Outreach.
• Anna Byrd — CRO — Prior to Outreach, she served as CFO at Livongo, Senior Vice President at McAfee, and Partner at KPMG.
- Market risk. In case of negative conditions on the stock market, the company may postpone its public listing.
- High competition. The strong growth of large startups and industry leaders could negatively impact Outreach’s expansion.
The company recently held a Series G funding round, which is considered one of the last rounds before going public.
Top-management hiring, as well as the late stage of a project, speaks of the imminent listing of the company. Based on the growth of the market and the main competitors, a 50% to 100% increase in the company’s shares can be expected.
How to buy Outreach shares?
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