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SalesLoft raises $10M in venture capital, will add 50 jobs
Apr 1, 2015, 8:14am EDT UPDATED: Apr 1, 2015, 10:57am EDT Urvaksh Karkaria Staff Writer-Atlanta Business Chronicle Software startup SalesLoft has raised $10.15 million in a Series A round led by Emergence Capital, a Silicon Valley venture firm that was an early investor inSalesforce.com. The investment values Atlanta-based SalesLoft at about $40 million, according to multiple sources. SalesLoft enables sales reps to create targeted lists of prospects on the Internet. Once the leads are found, SalesLoft helps companies communicate with prospects to set up the product demos and pitches needed to win the business. SalesLoft’s platform, which combines phone calls and emails, semi-automates the function of a professional prospector, or appointment-setter, CEO and co-founder Kyle Porter said. “We’ll come into a business and increase the number of qualified demos and appointments set by 300 percent,” Porter said. By automating the grunt work involved in customer-prospecting, the software shortens the sales cycle and helps close more deals, said David Cummings, SalesLoft chairman and investor. “There’s a lot of busy work that sales people do right now that (SalesLoft’s software) automates,” Cummings said. “While customer relationship management (CRM) software is a contact management system, SalesLoft’s software is the execution engine that helps automate prospect follow-ups.” SalesLoft, co-founded by Tim Dorr and Rob Forman, has seen rapid growth since launching in late 2011. The company, which ended 2014 at $4.5 million in annual recurring revenue, expects to double its workforce to about 100 by year-end. The $10 million will be used to " pour fuel on the sales and marketing fire," Porter said.
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