At a Glance
PSG, a growth equity company, led a $100 million Series C investment round for Introhive. So far, $150 million has been raised for the AI-powered sales and revenue acceleration platform. For the last five years, revenues have tripled every year.
Introhive, AI-powered sales, and revenue acceleration platform, has raised $100 million in a Series C funding round led by PSG, a growth equity firm. Other investors include Mavan Capital Partners, The Business Development Bank of Canada (BDC), and Evergreen Capital.
Canada-based Introhive has created an AI engine that ingests massive quantities of data from various sources to assist corporations (and especially anybody in their company selling to someone) in creating more robust “relationship graphs” for their target businesses.
The firm isn’t saying how much it’s worth, but CEO and co-founder Jody Glidden says it’s doing well. With a platform utilized by big companies such as PwC, Colliers International, Wilson Sonsini Goodrich & Rosati, Plante Moran, and Clark Nexsen, it has raised roughly $150 million. It has been tripling sales every year for the previous five years.
Customer retention is presently at 95%, with typical deployments ranging between 10,000 and 100,000 seats – Introhive isn’t only for those with “sales” in their job descriptions.
We realized there were a whole lot of problems with salespeople at RIM [now BlackBerry] not able to hit their revenue numbers,” he recalled, and so they started asking themselves some questions. “Are they bringing in the right lead data? Are they able to be as intelligent as they can be?” It took some years — four, exactly — and perhaps the rise of Facebook and its focus on the “social graph” for them to land on how to articulate the problem. They needed to “unlock relationship graph in CRMJody Glidden
Introhive was a startup founded by Mr. Glidden and Stewart Walchli in 2012 to address this problem. Not only does the firm give the means to use CRM-related data better to discover the ideal targets for specific goods or services, but it also gives analytics to the team to track how individuals are performing and, over time, anticipate “winnability.”
We’ve learned that Introhive’s benefits and pain-point eliminations transcend industries and organization size. We often say, ‘first you buy a CRM; then you buy us.’ Our internal compass focuses on the 3 R’s – revenue, retention, and relationships – as the key ingredients to a thriving business. Whether a company is trying to reduce customer or employee churn, make their revenue-generating teams more effective, or leverage the numerous untapped connections of ‘who knows who’ that exist in their company, Introhive is creating raving fans.Jody Glidden
We are extremely excited to be partnering with Introhive as they seek to continue to grow the CRM automation and relationship intelligence platform rapidly,” said, who will join Introhive’s Board of Directors. “Businesses of all sizes are looking for better ways to leverage relationships and drive revenue, and we believe Introhive has built a unique and innovative set of capabilities that allows them to do this more effectively. In our view, Jody and Stewart have built a world-class product and management team, and the business is well-positioned for its next phase of growth. We couldn’t be happier to join them on their journey.Rick Essex, MD at PSG