MindTickle turns unicorn raising $100M in Series E at $1.2B valuation
At a Glance
MindTickle becomes India’s 20th unicorn startup in 2021 and the third SaaS company in India to achieve the tag in 2021, raising $100M in Series E at a valuation of $1.2 billion. It would use the proceeds from the fund to accelerate its growth and mission of transforming and modernizing revenue organizations
MindTickle, a provider of sales readiness and enablement tools for businesses, has become India’s 20th startup to attain the unicorn tag in 2021 after raising $100 million in a Series E funding round at a valuation of $1.2 billion from SoftBank Vision Fund 2, a press release from MindTickle said.
The round also makes MindTickle the third Indian SaaS startup to enter the unicorn club after Chargebee ($1.4 billion valuation) and BrowserStack ($4 billion valuation). The Series D funding for MindTickle came in November 2020, where it raised $100 million. The total funding raised by the company has crossed $281 million, as per Crunchbase. Other investors – Norwest Venture Partners, Canaan, NewView Capital and Qualcomm Ventures – participated in the funding round.
MindTickle, founded in 2011, offers a sales readiness platform to revenue teams to improve organizational performance via sales enablement, content management, conversation intelligence, performance analytics and coaching solutions. Krishna Depura, Mindtickle CEO and co-founder of MindTickle, stated that revenue leaders today realize that sales readiness is a mission-critical component of their strategy to meet their goals and added,
They are taking more square ownership of these programs and partnering with their sales enablement, revenue operations, and training teams to create a continuous state of excellence across their organizations.Krishna Depura, Mindtickle CEO and co-founder of MindTickle
MindTickle stated that the investment comes amid a growth surge for sales readiness technologies, expected to touch $4.23B by 2027. The conversation intelligence market is expected to touch $13 billion by 2025. The company said it would use the proceeds to accelerate its growth and mission to transform and modernize revenue organizations.
Munish Varma, managing partner at SoftBank Investment Advisers, enunciated that the VC firm was impressed by MindTickle’s performance in creating and becoming a category leader in the sales readiness domain and added,
The product has become an essential part of any sales organization and we are excited to support the company in its growth.Munish Varma, managing partner at SoftBank Investment Advisers