Databook Picks Up $50 Million

<p><strong>PALO ALTO<&sol;strong> &&num;8212&semi; Databook&comma; a technology platform for sales intelligence&comma; has secured &dollar;50 million in Series B funding&period; The oversubscribed round was led by Bessemer Venture Partners with participation from DFJ Growth and previous investors Threshold&comma; Microsoft’s Venture Fund M12&comma; Salesforce Ventures and Haystack&period; 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&comma; telecommunications&comma; and consumer goods&period;<&sol;p>&NewLine;<p>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&period; Databook’s client base currently generates more than &dollar;300 billion in sales revenue each year and represents 50&percnt; of the total enterprise software sellers in the world&period; In the last two years&comma; 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&period;<&sol;p>&NewLine;<p>Databook has also made a series of strategic executive appointments in the past year in preparation for its next phase of accelerated growth&period;<b> <&sol;b>This includes CTO Neil Smith&comma; who joined from Google where he led the Research and Machine Intelligence group focused on Natural Language Processing &lpar;NLP&rpar; and SVP of Product Tamar Shor&comma; who joined from Treasure Data&comma; the market-leading enterprise customer data platform&period; Other recent executive appointments include technology veterans from leading enterprises who define global business success including Accenture&comma; Salesforce&comma; and Oracle&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Despite decades of investment in account-based technology and sales training&comma; enterprise sales and marketing remains woefully inefficient&comma;” said Anand Shah&comma; CEO of Databook&period; &OpenCurlyDoubleQuote;To create leads and close deals&comma; every member of the go-to-market team must function as a strategic consultant for their accounts&period; However&comma; developing these points of view is incredibly time consuming and requires sophisticated analytical research resources that slow down&comma; and often derail&comma; the sales process&period; Databook shortcuts the path to strategic partnerships by empowering any sales rep to quickly calculate customer needs&comma; solve for individual business outcomes&comma; and become proactive business advisors&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;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&comma;” said Elliott Robinson&comma; Partner&comma; Bessemer Venture Partners who has joined the Databook Board of Directors&period; &OpenCurlyDoubleQuote;The market demand for this solution is palpable and is reflected in Databook’s impressive growth&period; We’re thrilled to welcome Databook to the Bessemer portfolio&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Databook’s clear vision and relentless execution are changing the way that large companies sell to their biggest accounts&comma;” said Sam Fort&comma; Partner at DFJ Growth who has joined Databook as a Board Observer&period; &OpenCurlyDoubleQuote;Anand and his team stand out on all fronts&colon; technology&comma; market opportunity&comma; and operational excellence&period; It is extremely unusual for a company at this stage to be so capital efficient while growing at such a high rate&comma; and DFJ Growth is excited to support Databook in dominating this new category as it capitalizes on this new round of funding&period;”<&sol;p>&NewLine;