Outreach raised $200 mn led by Premji Invest and STEADFAST Capital

Sales intelligence provider Outreach has raised $200 million in a funding round led by new investors Premji Invest and STEADFAST Capital Ventures.
Dollar spending on technologyOther new investors such as Tiger Global Management, Sequoia Capital Global Equities and Vista Public Strategies participated in the round, which was joined by existing investors including Salesforce Ventures and Lone Pine Capital.

Outreach, whose customers include Microsoft, Zoom Video Communications and Adobe, has raised $489 million in funds so far.

The company’s artificial intelligence-driven platform provides information and insights to sales teams, thereby improving forecast capabilities and allowing them to close deals faster.

Outreach said its average rate of return more than doubled in the first quarter, compared to the same period last year, helped by a global shift to digital selling.

Outreach would use the funds to scale its sales and marketing businesses, invest in new markets and for expansion.

The Seattle-based company, with offices in London, Prague and San Francisco, has more than 800 employees.