Clari Secures $20 Million in Series B Funding Led by Bain Capital Ventures to Ignite Smarter CRM
Northgate Capital and Existing Investor Sequoia Capital also Participate in Latest Round to Bring Data Science to Sales
Clari, the mobile-first sales productivity platform, announced today that it closed a $20 million Series B funding round led by Bain Capital Ventures. Northgate Capital also participated in the round, joining existing investor Sequoia Capital. In conjunction with the financing, Bain Capital Ventures’ Ajay Agarwal will be joining the Clari board. This latest investment brings Clari’s total funding to $26 million.
“We are reaching a tipping point with CRM. Companies have brought in a stack of technologies to help sales — from mobile apps to CRM to business intelligence — but are struggling to extract actionable insights that enable them to close deals faster and drive more revenue,” said Andy Byrne, CEO of Clari. “Our platform infuses data science into every touch point in the sales cycle, and gets intelligence into the hands of the entire sales team to help speed sales and boost forecast predictability. This investment lets us double down on our predictive deal, relationship and forecast insights — making today’s CRM systems smarter.”
Clari plans to use the new investment to build upon its early successes in data science and predictive analytics. This includes continued development of its innovative Clari knowledge graph and machine learning algorithms. This data-driven approach is designed to inform and improve sales productivity and forecasting by accurately predicting deal outcomes. In conjunction, the company is scaling out its robust API framework that customers and partners can leverage to derive more meaningful insights across the entire sales organization.
“Enterprises have invested billions of dollars in CRM infrastructure software. Clari is the first company to finally unlock the power of CRM by leveraging the existing foundation with a next-gen mobile solution rethought from the ground up for field reps; a holistic platform that provides value to the reps, the managers, and sales ops; and advanced data science that delivers insights and actions to help close more business and grow revenue,” said Agarwal. “We were blown away by the Clari product and their future roadmap and believe the Clari solution is a must-have for every enterprise selling organization.”
Today, companies like Cisco, Box, Nimble Storage, and Juniper Networks are using Clari’s sales productivity platform to improve and accelerate the entire sales cycle – from meeting prep and follow-up to updating CRM and forecasting revenue. With Clari, sales reps have a mobile, easy-to-use window into all their sources with content organized around the two things that matter most: their deals and their relationships. Since Clari intelligently captures essential deal information from the reps in the field, managers and sales operations teams have a real-time view into deal progress. This allows managers to coach reps in time to exceed quarterly goals, assign sales support resources more effectively, and apply science and data to optimize sales best practices.