SoftBank leads $100 mn funding in SaaS platform MindTickle
Photo Credit: Reuters

MindTickle Inc., which operates an eponymous software-as-a-service-based sales readiness platform, has raised $100 million (Rs 744.75 crore at current exchange rates) in equity and debt funding.

The round in the California- and Pune-based MindTickle has been led by Japan’s SoftBank via its Vision Fund 2, the company said in a statement.

Other participants in the round include existing backers Norwest Venture Partners, Canaan Partners, NewView Capital and Qualcomm Ventures.

This round comes after MindTickle in July last year said it had raised $40 million in a Series C round that was led by Norwest, with participation from Accel, Canaan, NewView and Qualcomm Ventures.

MindTickle was set up in 2011 by Krishna Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali. Its platform provides data aimed at making sales teams more productive. It combines micro-learning, social learning and gamification to offer sales-ready solutions, which includes onboarding, skill development and coaching.

It will use the fresh capital to accelerate its go-to-market strategy as well as its global expansion. The company will also enhance its product with a focus on closing loops in customer-facing readiness and in-field execution, it said.

“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,” SoftBank Investment Advisers managing partner Munish Varma said.

MindTickle says it has partnered with over 200 enterprises including Fortune 500 and Forbes Global 2000 companies. It claims its platform has helped these customers improve revenue metrics such as ramp time, quota attainments and win rates.

In December 2017, MindTickle raised $27 million in its Series B round, which was led by Canaan. Before that, MindTickle secured $12.5 million in a Series A round in November 2015 from New Enterprise Associates and Accel. It had also mopped up $1.8 million from Accel in 2014.

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