Gong.io Raises $40 Million to Transform Sales With AI
Companies including LinkedIn, GE, ZipRecruiter, and Drift empower
their teams and win deals with Gong’s Conversation Intelligence
technology
SAN FRANCISCO & TEL AVIV, Israel–(BUSINESS WIRE)–Gong.io, the #1 rated Conversation Intelligence platform that leverages
artificial intelligence to go beyond CRM and transform sales teams,
today announced it has raised $40 million in Series B funding, bringing
the company’s total funding to $68 million.
The latest round was led by global investment firm Battery Ventures and
Battery General Partner Dharmesh Thakker. Thakker will join Gong’s board
of directors. Existing investors Norwest Venture Partners, Shlomo
Kramer, Wing Venture Capital, NextWorld Capital, and Cisco Investments
also participated in the round.
“We believe Gong’s technology is the most significant development for
sales since the invention of CRM in the previous century,” said Amit
Bendov, Gong CEO and co-founder. “Before Gong, companies were blind to
customer realities and were managing with no real data.”
Bendov, who previously served in senior roles with Battery-backed
companies Panaya and SiSense, added: “We have achieved success because
we’re able to add much-needed intelligence missing from existing CRM
systems. We will use the funding to invest heavily in engineering to
fulfill our long-term product vision as well as expand support, sales,
and marketing.”
Gong uses AI to turn phone, video, and text conversations into
mission-critical information that companies use to coach customer-facing
teams, increase win rates, and improve strategic decision-making. The
platform becomes smarter as it analyzes more data, ensuring learnings
are refined deal after deal.
The Gong platform helps sales leaders at companies ranging from
enterprise to fast-growing like LinkedIn, GE, Drift, and ZipRecruiter
achieve success by providing a realistic look at what their best people
are doing—from the specific terms they use in sales pitches, to how they
structure their calls—so that those tactics and strategies can be
replicated. The platform alerts sales leaders exactly when their help is
needed and when they should step in to save a deal. Tens of thousands of
salespeople across hundreds of sales teams currently rely on Gong.
“Ninety-five percent of what happens in sales conversations today gets
lost, and the other five percent of information is biased or no longer
applicable. Deals today require data science to win,” said Battery
General Partner Dharmesh Thakker. “By leveraging voice-enabled
technology— just like Alexa for business– Gong completely transforms
CRM through AI and machine learning. It takes a complete view of
information and makes it relevant, personalized, and actionable, as a
slew of Fortune 1000 customers can already attest.”
“We are very excited to assist Gong in bringing digital transformation
to sales teams, and are very impressed with Gong’s fast growth, market
traction, and enthused customer base,” added Itzik Parnafes, Battery
General Partner.
To learn more about Gong and how it can help your sales team, please
visit www.gong.io.
About Gong.io
Gong.io is the #1 Conversation Intelligence platform for sales. It helps
sales teams generate more revenue by having better sales conversations.
Gong automatically records, transcribes, and analyzes every sales
conversation so you can replicate successful sales conversations, coach
your reps, and ramp new hires faster. Visit Gong.io
for more information.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses
in markets including software and services, Web infrastructure, consumer
Internet, mobile and industrial technologies. Founded in 1983, the firm
backs companies at stages ranging from seed to private equity and
invests globally from offices in Boston, the San Francisco Bay Area,
London, New York and Israel. Follow the firm on Twitter
@BatteryVentures, visit our website at www.battery.com and
find a full list of Battery’s portfolio companies here.
Contacts
Megan Dyer Maxwell
GMK Communications
megan@gmkcommunications.com
650-810-6658