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Premji Invest co-leads Outreach’s $200 million round

BENGALURU: Sales engagement platform provider Outreach has closed a $200 million funding round co-led by new investors Premji Invest and Steadfast Capital Ventures. The funding values Outreach at over $4.4 billion. It has raised $489 million in funding so far.
Outreach integrates sales engagement, conversation intelligence and revenue intelligence into one platform. It counts Adobe, Tableau, Okta, Splunk, DocuSign, and SAP as customers. Outreach has more than 800 employees globally, and has added two new global offices in London and Prague to its US locations in Seattle and San Francisco.
“The bets we made years ago, including significant investments in artificial intelligence combined with prospecting, closing and customer success capabilities integrated into one holistic platform, are what revenue organisations need most right now to be successful. We continue to lead and expand the vision for sales engagement. Now, we are poised to deliver more meaningful business outcomes for our customers than ever before – from the rep to the CRO, and from small businesses to the enterprise,” said Manny Medina, CEO and co-founder of Outreach.
Sandesh Patnam, managing partner of Premji Invest and now a board member at Outreach, said, “We are confident that the company’s innovative AI-driven sales engagement and intelligence platform that enables enterprise revenue teams to excel and thrive will continue to increase its momentum in the long-term, and Outreach’s rapid growth and adoption by global sales organisations in such a short amount of time reflects this.”
In the latest round, there are other new investors including Tiger Global, Sequoia Capital Global Equities and Vista Public Strategies. Existing investors, including Salesforce Ventures, Lone Pine Capital, Sands Capital, Mayfield Fund, DFJ Growth, and Trinity Ventures also participated in the round.
Outreach will use the funding to continue to scale its sales and marketing organisations, expand into newer markets and invest in building, acquiring and delivering newer technologies.

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