MindTickle Advances Sales Enablement Efforts with New Funding
Updated · Jul 29, 2019
CRM software isn’t the only class of enterprise software that is used to help salespeople, there is also a growing category known as Sales Readiness technology.
One of the emerging vendors in the Sales Readiness space is startup MindTickle which announced on July 29 that it has raised $40 million in a Series C round of funding. The new round was led by Norwest Venture Partners and included the participation of Accel Partners, Canaan, NewView Capital, a spinout of New Enterprise Associates, and Qualcomm Ventures LLC. Total funding to date for MindTickle now stands at $81 million since the company was founded in 2011.
“Sales and service organizations are facing a perfect storm on many fronts and company representatives that are not equipped to handle complex buyer needs and competitive challenges are being left behind,” Krishna Depura, co-founder and CEO of MindTickle, wrote in a statement. “MindTickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer.”
The MindTickle platform provides a number of different capabilities to help organizations improve their sales and customer acquisition efforts. Among them is sales analytics, which is often a feature that is also part of CRM platforms like Salesforce.
“By measuring data related to learning content engagement, assessed proficiency and demonstrated performance in near-real world environments, and then correlating these platform data sets to pipeline management metrics, we’re able to provide the leading indicators of real-world success,” Depura wrote in a blog post. “At the same time, the MindTickle platform helps to identify gaps in competency or capability and provides a path to remediation.”
Depura added that when engagement and proficiency data is combined with business outcome data and enhanced by AI and machine learning, organizations can surface insights, drive personalized recommendations and optimize sales performance.
The MindTickle platform also includes what the company refers to as ‘micro learning’ capabilities that aim to help sales staff acquire knowledge in a rapid way that can be measured. Skill and practice tools aim to help improve sales staffs abilities in a way that can be integrated with other enterprise systems including Salesforce, Human Resource Management Software (HRMS) and even Business Intelligence (BI) platforms.
“MindTickle is successfully confronting one of the most complex issues facing today’s organizations — the ability to train and upskill customer-facing employees,” commented Scott Beechuk, partner at Norwest Venture Partners. “As organizations continue to look beyond traditional learning management systems for new technologies to make their teams more effective in the field, we see a tremendous opportunity ahead for MindTickle to lead this movement.”
Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.