LeadIQ, the account-based prospecting SaaS platform that simplifies lead management and sales prospecting, has announced that it has raised a $30 million Series B round led by global venture capital firm Cathay Innovation with participation from Eight Roads Ventures, Alumni Ventures, LAUNCH Fund, Draper Associates, Fresco Capital and Strong Ventures.
This investment brings the total capital raised to $42 million, with the new financing being used to accelerate its product roadmap in account prioritization, buying team and contact personalization, and sales team collaboration, along with hiring key management roles as the company continues its growth and expansion.
“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 & 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 prioritize efficiency and effectiveness beyond the quota. We look forward to leveraging our resources worldwide to accelerate the company further onto the global stage.”
Kavish Kothari, Principal, Eight Roads Ventures added, “Since our original investment early last year, we’ve been very impressed by the company’s pace of execution and growth amidst the pandemic. LeadIQ is addressing a pertinent pain point in the sales journey by increasing effectiveness of the sales teams through a product-led approach. We’re thrilled to be doubling down on our conviction as we continue to support Mei and her team to strengthen their position in a rapidly growing market.”
“With 65% of teams missing revenue targets, outbound sales efficiency is a major challenge for enterprises globally,” said founder and CEO 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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.