Outreach develops software to help salespeople do their jobs quickly and efficiently.
Seattle sales-automation company Outreach has pulled in another $65 million from investors, bringing total funding for the five-year-old startup to $125 million.
The company, which has offices in Seattle’s Wallingford neighborhood, develops cloud-based software to help salespeople automate and manage emails, phone calls and other communication with clients.
Outreach plans to use the new funds to build out the technology’s machine learning capabilities – which are used to collect and analyze data about sales interactions and suggest strategies for future deals.
The startup, one of the fastest growing in the Seattle area, also plans to expand its technology beyond sales to other areas of business.
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Outreach doubled its revenue last year, a feat that CEO Manny Medina said required hiring engineers early in the year to make sure new products were ready in the second or third quarter. Outreach’s employee base has been growing at a rapid pace — the company now has more than 250 employees, up from 170 a year ago.
The company will likely have 350 employees by the end of the year, Medina said. The goal is to take Outreach public by 2021, he said, though he cautioned it depends on market conditions.
Outreach’s latest funding round was led by investor Spark Capital, which has offices in Boston and San Francisco. Sapphire Ventures and previous investors – including DFJ Growth, Microsoft Ventures and Trinity Ventures – also contributed.