Software firm Salesloft raises fresh funds at $2.3 bln valuation

1 minute read
Register now for FREE unlimited access to Reuters.com

Dec 22 (Reuters) - Sales engagement software maker Salesloft Inc said on Thursday it raised funds from private-equity firm Vista Equity Partners at a $2.3 billion valuation, giving it a majority stake, as the company taps into the recent boom in the enterprise software sector.

Salesloft, which has seen over 125% growth in its European market, said it will use the funds raised to expand beyond North America and particularly in Europe.

Founded in 2011, Salesloft counts IBM (IBM.N), Shopify and Cisco (CSCO.O) as its customers and provides an AI-driven platform that integrates communication channels and workflows and also provides analytics and insights to optimize sales.

Register now for FREE unlimited access to Reuters.com

Private equity funding in the software space is booming thanks to rapid digitization. Earlier in December, enterprise software maker Genesys raised funds at a $21 billion valuation.

Tech-focused investment firm Vista Equity, with over $86 billion assets under management, has itself closed over 60 transactions in the space this year. Vista will also join Salesloft's board as part of the deal.

The funding round was first reported by the Wall Street Journal.

Register now for FREE unlimited access to Reuters.com
Reporting by Chavi Mehta and Shivani Tanna in Bengaluru; Editing by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.