Gong Raises $250M in Series E Funding at $7.25 Billion Valuation
Gong, a Palo Alto, Calif.-based revenue intelligence company, raised $250m in Series E funding.
The round, which brought total funding raised to date to $584m and valuation at $7.25 Billion, was led by Franklin Templeton, with participation from existing investors Coatue, Salesforce Ventures, Sequoia, Thrive Capital, and Tiger Global.
Led by CEO Amit Bendov, Gong provides revenue teams with a platform that captures and understands every customer interaction, then delivers insights at scale, empowering revenue teams to make decisions based on data instead of opinions.
With its patented platform, Gong captures the full range of a company’s customer interactions, surfaces insights about markets, deals and employee skills, and recommends the next best steps to progress deals, ensure customer success, and win markets.
Gong, a platform leveraging artificial intelligence for sales teams, raised $250 million in a funding round that tripled its valuation to $7.25 billion, the company said on Thursday.
Gong going gangbusters, grabs $250M Series E on $7.25B valuation
Gong, the revenue intelligence startup, has been raising capital at a rapid pace, and today the company announced another $250 million on a $7.25 billion valuation, a number that triples its previous valuation from last summer.
Franklin Templeton led today’s festivities with participation from Coatue, Salesforce Ventures, Sequoia, Thrive Capital and Tiger Global. The company raised $200 million last August at a $2.2 billion valuation, and has now raised $584 million, $450 million coming in the last year.
What is making investors open their wallets and pull out such large sums of cash? The company is helping solve a hard problem on how to bring more intelligence to the revenue process. They do this by using artificial intelligence to listen to every customer interaction, whether that’s a sales or service call (or anything else), and use that information to determine valuable information like who is most likely to