Israeli-founded startup Gong raises $200M
Revenue intelligence company for sales teams Gong announced the completion of $200 million Series D financing round, pushing its valuation to $2.2 billion. The US hedge fund Coatue was the leading investor. Index Ventures, Salesforce Ventures, Thrive Capital and existing investors Battery Ventures, NextWorld Capital, Norwest Venture Partners, Sequoia Capital and Wing Venture Capital also participated in the round.
Founded in 2015 by CEO Amit Bendov and CPO Eilon Reshef, Gong develops a conversation intelligence platform for B2B sales that ensures sales effectiveness and key deals to be cut. The company’s software, based on AI technology, captures each company’s interactions with customers automatically, records and transcribes each one to help companies to discover sales insights and identify behaviour patterns and trends.
Gong is growing rapidly. Previously, in December 2019, the company has attracted $65 million in a Series C round. Its total raised funding is now $334 million. The number of Gong’s clients exceeds 1,000, including such corporates as Autodesk, LinkedIn, MuleSoft, Outreach, PayPal, Shopify, Slack, Twilio, Zillow, and Zoominfo.
Gong is planning to invest the raised capital in the further development of its revenue intelligence platform, because of the strong market demand, the company says.