U.S.-Israeli startup Gong raises $65 million, doubling total funding

TEL AVIV (Reuters) - U.S.-Israeli startup Gong said on Tuesday it has raised $65 million in a funding round led by Sequoia Capital, bringing its total raised to $134 million.

Existing investors Battery Ventures, Norwest Venture Partners, Israeli businessman Shlomo Kramer, Wing Venture Capital, NextWorld Capital and Cisco Investments also participated in the round.

Gong uses artificial intelligence to help businesses understand customer interactions and provides insights to improve sales, it said.

The company, headquartered in San Francisco, will use the new capital to invest in its product, engineering, and go-to-market teams.

In 2019, Gong doubled the number of employees and intends to add 150 more jobs in 2020, including 100 in the fields of AI engineering, data science and more at its Israeli research and development center.

Its customers include General Electric and LinkedIn.

Reporting by Tova Cohen, Editing by Ari Rabinovitch