Data-driven sales engagement startup Apollo.io raises $ 32 million in new round
Business engagement platform provider Apollo.io, officially known as ZenLeads Inc., stated its ambitions today after raising $ 32 million in a new round of funding led by Tribe Capital.
NewView Capital and existing investor Nexus Venture Partners also participated in today’s Series B, bringing Apollo’s total funding to date to $ 41.3 million.
Apollo has created a go-to-market platform for business-to-business enterprises that helps connect their sellers to customers who may be interested in their products or services. It does this by combining tools that include a rules engine to automate lead routing and a lead scoring and analytics tool to measure results.
The company is also throwing data from more than 200 million contracts signed across 10 million companies into the mix. It also integrates with customer relationship management tools such as Salesforce, in order to act as an intermediary between sellers and buyers.
In summary, Apollo’s platform helps sales professionals access accurate and affordable prospecting and sales data, making it easier for them to find new customers and close deals, resulting in more of income in their business.
The Apollo platform is available to both start-ups looking to build a customer base, as well as large established companies that might want to expand into new areas. And so far the platform has been a success, with Apollo growing its user base by over 200% over the past 18 months while maintaining profitability.
The company put together a list of impressive statistics, adding that it has tripled its revenue in the past year, on an undisclosed basis, increased its weekly active user base by 400% and amassed over a million new users in total. In total, he said, it has 9,000 paying customers.
Tribe Capital partner Sri Pangulur, who will serve on Apollo’s board of directors under today’s funding deal, said the company is questioning the status quo on intelligence about business-to-business and commercial engagement prospects by making contact data and prospecting more accessible.
âConsidering the incredible growth of the business over the past year, improving product offerings and acquiring new customers, we are confident in Apollo’s ability to disrupt the sales technology market. for B2B businesses, by providing a smarter, more cost effective and simpler solution, âPangulur mentioned.
Now that he has millions of dollars in the bank securely, Apollo said he would look to expand his product and engineering teams in a bid to refine his technology. It also plans to expand its own customer base, which mainly consists of companies and mid-sized companies, by making additional investments in its sales, marketing and operational resources. He also planned new hires of senior executives.
Apollo Co-Founder and CEO Tim Zheng said Apollo’s success so far is due to the burden of a traditional B2B go-to-market process that is manual, tedious and complex, stifled through minimal advice and lengthy onboarding processes.
âThis funding will help us further accelerate our product-based growth model, which has been hugely successful in the contact data space,â Zheng said. âApollo’s vision is to give its customers the most powerful and intelligent go-to-market platform in the industry, so they can reach their full market potential. We want to make B2B data access even easier, while improving data with business intelligence and automated workflows.