PALO ALTO — Databook, a technology platform for sales intelligence, has secured $50 million in Series B funding. The oversubscribed round was led by Bessemer Venture Partners with participation from DFJ Growth and previous investors Threshold, Microsoft’s Venture Fund M12, Salesforce Ventures and Haystack. The funding will be used to accelerate hiring across all areas of the business and support growth into Europe and APAC including new industries such as banking, telecommunications, and consumer goods.
The funding comes at a time of explosive growth for Databook as enterprises around the world embrace the company’s AI-powered platform to simplify strategic selling. Databook’s client base currently generates more than $300 billion in sales revenue each year and represents 50% of the total enterprise software sellers in the world. In the last two years, the company has seen a 27x increase in valuation as more businesses utilize its platform to empower go-to-market teams with account-specific insights and accelerate sales success.
Databook has also made a series of strategic executive appointments in the past year in preparation for its next phase of accelerated growth. This includes CTO Neil Smith, who joined from Google where he led the Research and Machine Intelligence group focused on Natural Language Processing (NLP) and SVP of Product Tamar Shor, who joined from Treasure Data, the market-leading enterprise customer data platform. Other recent executive appointments include technology veterans from leading enterprises who define global business success including Accenture, Salesforce, and Oracle.
“Despite decades of investment in account-based technology and sales training, enterprise sales and marketing remains woefully inefficient,” said Anand Shah, CEO of Databook. “To create leads and close deals, every member of the go-to-market team must function as a strategic consultant for their accounts. However, developing these points of view is incredibly time consuming and requires sophisticated analytical research resources that slow down, and often derail, the sales process. Databook shortcuts the path to strategic partnerships by empowering any sales rep to quickly calculate customer needs, solve for individual business outcomes, and become proactive business advisors.”
“Databook fills a critical hole in the account-based sales marketplace allowing its customers to predictably leapfrog their competition with regards to sales efficiency and success,” said Elliott Robinson, Partner, Bessemer Venture Partners who has joined the Databook Board of Directors. “The market demand for this solution is palpable and is reflected in Databook’s impressive growth. We’re thrilled to welcome Databook to the Bessemer portfolio.”
“Databook’s clear vision and relentless execution are changing the way that large companies sell to their biggest accounts,” said Sam Fort, Partner at DFJ Growth who has joined Databook as a Board Observer. “Anand and his team stand out on all fronts: technology, market opportunity, and operational excellence. It is extremely unusual for a company at this stage to be so capital efficient while growing at such a high rate, and DFJ Growth is excited to support Databook in dominating this new category as it capitalizes on this new round of funding.”