In the enterprise, competing for deals requires salespeople to possess highly specific information about both their company’s offerings and the buyer. But that information is not always straightforward to find in large companies that have gigabytes’ worth of sales materials on hand.
Seismic Software Inc., a startup dedicated to simplifying the task, today announced that it has raised $100 million in funding to fuel its efforts. The round was led by prominent venture capital firm Lightspeed Venture Partners. Lightspeed partner John Thompson, who serves as the chairman of Microsoft Corp., is joining the Seismic board as part of the round.
The investment comes shortly after Seismic disclosed that its recurring revenue is up 109 percent from last year, though it didn’t provide an absolute number. More than 500 enterprises now use the startup’s namesake platform, which provides features for handling the logistics of delivering needed information to salespeople.
Seismic places a particular emphasis on helping teams ensure content relevance. The platform enables sales departments to customize what materials get shared with each team member based on their role, as well as tailor the content to various situations. If a manager sees that, say, an employee is helping a lead evaluate two software products, she could send that employee pitch kits for those specific offerings.
Seismic also provides self-service features. Users can generate custom sales documents from preprepared components and tweak their contents based on factors such the size of a prospective enterprise client.
On the backend, Seismic’ enables companies to create workflows for ensuring that users’ day-to-day work goes smoothly. The platform provides the ability to set up rules for limiting the sharing of sensitive data and enables managers to require that certain documents be approved before release. User actions are recorded in an audit trail to help companies verify that policies are being followed.
Today’s funding will enable Seismic to add yet more features to its platform. The startup plans to implement new reporting capabilities for measuring content performance, as well as a recommendation engine that will use machine learning to help salespeople better engage prospects.
Seismic has raised a total of $179 million to date.