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Seismic Raises New Funds with a Value of $3 Billion
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Seismic Raises New Funds with a Value of $3 Billion
Seismic, a software company, announced on Monday that it had raised $170 million in new funding at a $3 billion valuation, part of which would be used to acquire Lessonly, a venture capital-backed online sales coaching platform. Seismic, which creates software for sales teams, has roughly doubled its valuation since its previous financing late last year.
Private equity firms Permira and JMI Equity, as well as venture capital firms Lightspeed Venture Partners and Jackson Square Ventures, all participated in the current Series G round.
Ameriprise Financial Services, as well as funds and accounts administered by investment management firm T Rowe Price, took part. situated in San Diego Seismic, which has roughly 2,000 customers including IBM Corp, Cisco Systems Inc, and American Express Co., develops software that helps salespeople communicate with buyers more efficiently.
With the commencement of COVID-19-related lockdowns and associated layoffs, as well as a move to a remote work ethic, Seismic observed a big rise in usage on its platform last year. Seismic's platform has been integrated with Lessonly, which is utilized by over 1,200 firms like McAfee Corp and Dun & Bradstreet Holdings Inc. Customers may now get remote sales training for new and existing personnel, as well as sales and marketing content.
"I was actually really surprised how many big companies didn't have a way to do remote learning - all their learning was in person," Chief Executive Officer Doug Winter told.
"I was actually really surprised how many big companies didn't have a way to do remote learning - all their learning was in person," Winter added. According to the company, a portion of the funds raised will be utilized to hire new employees, including engineers, as well as expand internationally.
