San Francisco, California and Singapore-based lead management and sales prospecting platform provider LeadIQ has announced its latest round of funding.
The company’s offering automates repetitive data entry tasks in the sales prospecting prospect, freeing up salespeople for higher-value activities while preserving CRM data hygiene. Its customers include the likes of MuleSoft, WalkMe, and Okta.
The company’s latest $30 million Series B round was led by Cathay Innovation, alongside participation from Eight Roads Ventures, Alumni Ventures, LAUNCH Fund, Draper Associates, Fresco Capital and Strong Ventures.
“Led by a resilient and tenacious CEO with incredible vision, LeadIQ offers a next-gen platform that is the glue that unifies sales at the top of the funnel to provide the most comprehensive solution on the market,” said Denis Barrier, Co-Founder and CEO at Cathay Innovation.
“Its workflow automation builds a strong moat and competitive advantage which is critical with the pandemic-era digital transformation and subsequent talent wars forcing sales leaders to prioritise efficiency and effectiveness beyond the quota. We look forward to leveraging our resources worldwide to accelerate the company further onto the global stage.”
The round brings total funds raised to $42mn. LeadIQ said it would use the funds to accelerate its product road map in areas such as contact personalisation and sales team collaboration, as well as fill key management roles.
“With 65% of teams missing revenue targets, outbound sales efficiency is a major challenge for enterprises globally,” said founder and CEO of LeadIQ Mei Siauw. “Today, account-based prospecting is still highly manual and time consuming thanks to fragmented data across multiple systems, repetitive busy work, low quality research and varying privacy laws.
“We built LeadIQ to help sales teams everywhere make authentic prospect connections with a more thoughtful approach. The numbers speak volumes, where we tripled growth in our enterprise and mid-market segments year-over-year. With this latest financing, we look forward to working with current and new investors like Cathay Innovation, who have the global reach and local market expertise across the US, Europe and Asia to help us scale further during this next phase of growth.”
