Seattle-based Outreach, a startup that specializes in sales intelligence, said it’s valued at $4.2 billion after its latest round of financing, more than triple what it was worth last year.
The new $200 million investment was led by new investors Premji Invest and Steadfast Capital Ventures, with participation from Sequoia Capital, Tiger Global Management and private equity firm Vista Equity Partners. Premji Invest is a fund managed by the family office of Indian tech billionaire Azim Premji.
The jump in valuation reflects the growth the company has seen during the past year, said Chief Executive Officer Manny Medina who is also a co-founder. He said that “the pandemic almost did away with the on the field, on the road, sales rep job,” which resulted in more demand for technology to manage remote sales.
Read the full press release here: https://www.bloomberg.com/news/articles/2021-06-02/software-startup-outreach-valued-at-4-2-billion-in-new-funding