But wait, there is more...
Solofire's top two competitors are valued at over a $1B and now we know Outreach is too. What about the rest?
December 4, 2019 - Highspot, a Seattle-based sales enablement platform, has raised $75 million just six months after it raised $60 million in an initial close of a Series D round of funding.
Jul 25 2019 - Bigtincan Acquires Veelo, Expands Its Sales Enablement Platform
Bigtincan Market Cap: $356M
July 12, 2019 — GetAccept today announced it has raised a $7 million Series A funding round led by DN Capital, with participation from BootstrapLabs, Y Combinator and a number of Spotify’s early investors including the former CFO of Spotify, Peter Sterky. The company is also announcing that former CMO of Slack and Zendesk, Bill Macaitis, will join the company’s Board of Directors. This round brings GetAccept’s total financing raised to $9M.
Dec. 12, 2017 - Corel Acquires ClearSlide: Sales Engagement Platform Leader Poised for Growth
April 25, 2019 - SalesLoft nabs $70M at around $600M valuation for its sales engagement platform
No now you see for yourself all companies in this space raise money. Actual many companies in many spaces. It's how they grow. So next time you are reading about someone crying about raising money or dilution, maybe that isn't the place to get DD or insights as they are clueless about companies.
Now if I was a financial analyst following VERB or about to, I would read my last two post and then one and start thinking about valuation and also what this new combined company can do to future projections.
but red, SalesLoft wasn't on that list...
But, but, it is on this one...
That listed Outreach and Salesloft as two examples of Sales Engagement
What you find is there are many flavors of sales tool. Some do one thing real well and others do a number of things. That article is a good one as it helps educate on 7 areas:
7 Sales Enablement Tools You Need in 2020
Sales Content Management
Video Coaching and Practice
Account and Opportunity Planning
The VERB platform sweet spot is Sales Engagement, but it also has Sales Content Management, Video Coaching and Practice and CRM.
"This is especially true when you consider which tasks often consume a sales rep’s time. Case in point: Hubspot reports that reps typically spend 21% of their day writing emails, 17% entering data, and another 17% prospecting and researching leads. No wonder sales productivity is a struggle for today’s companies!"
Sales people are spending more than 1/2 their time NOT selling. This is why a Sales Engagement tool that actually sells can make a tremendous impact.
Did you noticed that Sales Engagement platforms have the highest valuation?
Here's the Forrester Wave from Q3 2020 that just came out.
Forrester is like Gartner and considered #1 and #2 in the software industry in research
Guess who is at the top?
Outreach and Salesloft valued at $1.33B and $600M and the $600M was last year.
Guess who isn't at the top?
As Rory said, they are very good at tracking what salespeople are doing, but need some help in Sales Engagement
but red, I have 'concerns' Verb isn't on that list
Don't fret, when Verb is a 1/2 billion dollar company they will be
Both Gartner and Forrestor have criteria in size to be considered for the Magic Quadrant and Wave.
Now if I was Seismic or Showpad, I've have 'concerns' I wasn't listed considering Seismic is valued at $1B+
But don't worry, they were #1 and #3 on the
The Forrester Wave™: Sales Content Solutions, Q3 2020 Report
red, I am confused. Why are there two lists/rankings that come out?
Great question, one is for Sales Content Management and one is for
red, what happens if they were go combine the two charts?
They won't, but think about this...
What if you took a Sales Content Management company and combined it with a Sales Engagement company?
How special would that be...
Something to noodle on this weekend