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$35 Million Raised in Series C: How We Got Here (And Where We’re Going)

Posted in:  Highspot News

Helping teams close deals is what we do.

Today, we’re practicing what we preach – we are thrilled to announce the successful close of a $35 million Series C round led by new investor OpenView with participation from Madrona Venture Group, Salesforce Ventures, and Shasta Ventures.

The road to this round was paved with trail-blazing product innovation, rapid company expansion, and hundreds of new faces of the people we are proud to call our investors, customers, partners, colleagues, and friends.

That means you! You are the reason we exist, and without your success, we wouldn’t be where we are today. For that, we thank you.

Thank you for Highspot Series C

What does the future hold for Highspot? It’s first worthwhile to look back at where we’ve come from, in order to frame the opportunity ahead.

How We Got Here

Our Vision

It began when our fearless CEO and co-founder Robert Wahbe noticed a pain point while serving as Corporate Vice President of Product Management at Microsoft. Although the marketing team produced more than 10,000 pieces of content every year, the sales team could not locate content available to them, and there was no visibility into content usage or performance.

After discovering that other companies were experiencing the same challenge, Robert and three former Microsoft colleagues solved the widespread market need with Highspot – the industry’s most advanced solution that proceeded to turn all eyes on sales enablement.

“Highspot discovered a market pain point and answered with an innovative, advanced sales enablement solution. We are proud to be partnered with a pioneering company that has highlighted the importance of sales enablement.” – Matt Garratt, Managing Partner at Salesforce Ventures

Today, sales and marketing leaders regard sales enablement as the new standard of doing business, with CSO Insights reporting that the percentage of companies with a dedicated enablement person, program, or function increased by 180% last year. As an industry trailblazer, Highspot continues to advance and shape the sales enablement landscape with innovative technology and thought leadership.

Our Customers

Highspot’s journey would have quickly dead-ended if it were not for our customers and their enthusiasm for the product. You know who you are – you’re the sellers, marketers, sales enablement leaders, and solutions owners who inspire us to deliver our best work every single day. Whether you work at Twitter, Apptio, Aetna, Zillow Group, or elsewhere, you have helped us build a fast growing and enduring business.

Your use of Highspot has led to our off-the-charts adoption rate (90% on average) and unparalleled recurring usage rate (also 90% on average)! We’re proud to say that our commitment to developing beautifully designed products with a spark of magic and delivering exceptional customer experience has resulted in Highspot having the highest satisfaction ranking of all sales enablement vendors.

Our Partners

Jack Johnson had more than the music right when he sang, “It’s always better when we’re together.” From our 50+ technology integrations to our trusted vendor relationships, our partnerships make us better and, in turn, we can deliver the most valuable solution for our customers. One of the highlights of our year: uniting our best-in-class sales enablement with Outreach’s best-in-class engagement software to provide a powerful combination that elevates the experience for both sellers and customers.

Our Investors

You believe in us. You support us. You’ve watched us grow. Since day one, you’ve recognised the potential in our company vision, our differentiated next-level machine-learning capabilities, and our product that solves a real market need.

“Highspot is the ideal investment for us, given our firm’s focus on product-led growth and rapid market expansion. After speaking with Highspot’s customers, it was clear that the company is changing the sales enablement landscape in a fundamental way by creating a product that is indispensable to a seller’s daily workflow.” – Blake Bartlett, Partner at OpenView

It is an honour to partner with OpenView and welcome Blake Bartlett to Highspot’s Board of Directors. We’re proud to share our achievements with you and to benefit from your experience and innovative approach to product-led growth at scale.

Our Employees

If there is one reason why in 2018 alone Highspot has been named a Top 50 Startup by LinkedIn, one of Seattle’s Best Companies to Work For by Seattle Business Magazine, and a Top 50 Company to Sell For by Selling Power magazine, it would be our people.

Creative, positive, driven, and passionate are just a few adjectives that describe our Highspot teammates. The caliber of top industry talent is the power behind our product, and is also what makes every day in the office a great one. One of our recent Glassdoor reviews says it best: “The atmosphere and people you are surrounded by make it so that you are always excited to go to work.”

Where We’re Going

With all the love from our customers, partners, investors, and the Highspot team, the question is what are we going to do with this fresh round of funds? The answer: take the sales enablement solution that sales reps love to new heights and to new places.

With our Series C financing, we will focus on driving product innovation that delivers even more value for our customers. Get ready – Highspot’s game-changing platform is levelling up.

And it doesn’t stop there. This new investment will also fuel our global expansion as Highspot looks to open offices in new markets. We’ve doubled our employee count over the last year, and we have big plans to double again, with a focus on building out our product team.

Today marks a milestone achievement not just for Highspot, but for everyone who has joined us on our journey. Thank you again, for your hard work, support, and passion, that led to this moment that will go down in Highspot history.

Want to chat about the future of Highspot and sales enablement? Join us at the 2018 Sales Enablement Soiree at Dreamforce. We’ll see you there!