Today, we’re thrilled to announce our $40M Series C round of venture capital funding led by Norwest Venture Partners as well as welcome Norwest Partner and former Salesforce executive Scott Beechuk to our Board of Directors. This is an exciting personal and professional moment for me, my cofounders Nishant Mungali and Deepak Diwakar, and for Mindtickle.

This occasion is an important validation in our collective belief that for today’s companies, every customer’s experience is only as good as the last interaction they’ve had with one of a company’s employees. This means that every customer-facing employee needs to be a steward for the values, culture, and product and service value propositions of an organization. At the same time, we saw that companies could be doing a much better job of engaging their employees while educating and equipping them to be successful by using a modern approach to learning, development and ultimately ready to have engaging and valuable interactions with customers. With a platform to support personal and professional development through employees’ mobile devices, gamification, and access to online learning for enrichment, companies could focus on and enhance the human experience in the workplace.

To this end, Mindtickle believes that in order to assess, implement and develop the demonstrable capability of customer-facing employees, a single data model must be built. The ultimate goal behind creating a data model is to find competencies that best correlate with activity metrics and sales performance, and ultimately optimize an organization’s readiness and enablement investments to develop the desired capabilities. By measuring data related to learning content engagement, assessed proficiency and demonstrated performance in near-real world environments, and then correlating these platform data sets to pipeline management metrics, we’re able to provide the leading indicators of real-world success. At the same time, the Mindtickle platform helps to identify gaps in competency or capability and provides a path to remediation. When engagement and proficiency data is combined with business outcome data and enhanced by AI and machine learning, organizations can surface insights, drive personalized recommendations and optimize sales performance.

Along this journey, we’ve also been fortunate to have supportive investors like Qualcomm Ventures, Accel, and Canaan who started with us early in Mindtickle’s development. In addition to seeing an opportunity to bring a leader transforming sales enablement and readiness to the market, they saw an untapped opportunity for Mindtickle to be at the forefront of India-founded companies that break the traditional Silicon Valley mold to drive greater innovation that would apply to a global audience.

That early foresight has proven accurate as we’ve expanded our mission from high tech, high growth start-ups to established enterprise companies while growing at a phenomenal pace. In the last fiscal year, Mindtickle grew its enterprise customer base by 200 percent and increased annual recurring revenue by more than 100 percent year over year. We’re proud to now count dozens of Fortune 500 and Global 2000 companies, hundreds of the world’s fastest-growing and most recognizable technology companies as customers. Companies like AppDynamics, MongoDB, Unisys, Qualtrics, Procore, Square, Janssen, Cloudera, Wartsila, VF Corporation, Dexcom, Merck Group, and Benetton Group have recognized the power of a modern approach to readiness that includes microlearning in the flow of work, gamification, social and peer learning and coaching — all in context and just in time.

Together, we look forward to addressing this area that has been untouched but is critically important for today’s organizations — providing a systematic, repeatable and measurable way to prepare and assess customer-facing employees’ ability to deliver an exceptional customer experience. With Norwest Venture Partners joining the ranks of our esteemed investors, we’re collectively doubling down on the thesis that companies tackling this important problem of readiness will expand from sales to other customer-facing teams and ultimately to all teams across the organization and change the way we think about personal and professional development.

A heartfelt thanks go out to those who’ve supported us along this journey and welcome to those who have recently joined us as well as those who’ve yet to join us!

For more information about our Series C funding announcement, see the press release here!

Norwest Venture Partners invests in leader transforming sales enablement and readiness

SAN FRANCISCO—July 29, 2019—Mindtickle, the leader in Sales Readiness technology, today announced that it has secured $40 million in Series C funding. New investor Norwest Venture Partners led the round with participation from all existing investors including Accel Partners, Canaan, NewView Capital, a spinout of New Enterprise Associates, and Qualcomm Ventures LLC. In addition, Scott Beechuk, partner at Norwest Venture Partners and former Senior Vice President of Product Management at Salesforce Service Cloud will join Mindtickle’s Board of Directors. This round brings Mindtickle’s total raised to more than $81 million.

“Sales and service organizations are facing a perfect storm on many fronts and company representatives that are not equipped to handle complex buyer needs and competitive challenges are being left behind. Mindtickle is empowering companies to grow revenue and build their brand value by transforming customer-facing teams preparing them to be on message and on task every time they engage with a prospect or customer,” said Krishna Depura, co-founder and CEO of Mindtickle. “Our Series C funding will fuel our strategic, long term growth plans while supporting on-going investment in our expanding products and services. We’re thrilled to have Scott join our board and welcome his insight and expertise as we embark on this new stage of rapid expansion.”

Mindtickle has experienced rapid growth by many business measures, including expanding its Fortune 500 and Global 2000 customer base by 200 percent and increasing annual recurring revenue by more than 100 percent year over year. The funding news comes just recently after Mindtickle announced that they’ve hired Jeff Santelices as Chief Revenue Officer, adding an experienced and proven leader with a track record of building customer-focused sales organizations. In addition, Mindtickle has expanded that sales leadership team with the two additional hires of Ahmed Hedayat and Dan Coady. Ahmed has joined as Regional Vice President of Enterprise Sales, West and APAC, while Dan has joined as Regional Vice President of Enterprise Sales, East. 2019 has also been a year of validation and achievement for Mindtickle having recently been recognized as one of the 50 Highest Rated Private Cloud Computing Companies To Work For, named a ‘Best Sales Enablement Solution’ winner in the Stevie® Awards For Sales & Customer Service, and positioned as a Leader in the Aragon Research Tech Spectrum™ for Sales Coaching and Learning.

“At Snowflake, the sales experience has become as significant a differentiator as the product,” said Steve Hallowell, Vice President of Sales Productivity at Snowflake.  “When companies under-invest in training their sales teams, a few exceptional sales reps drive a disproportionate share of bookings. Worse, account executives are not prepared to answer tough questions or lead customers through often-complex buying decisions. We use Mindtickle to scale a high-quality, high-impact training experience for our sales organization, our partners, and our customers. They have been a great partner and collaborator enabling our teams to be more effective in the field.”

“Mindtickle is successfully confronting one of the most complex issues facing today’s organizations — the ability to train and upskill customer-facing employees,” said Scott Beechuk, partner at Norwest Venture Partners. “Mindtickle has proven product-market fit for its mobile-first, readiness platform that engages employees and delivers perpetual micro-learning experiences. As organizations continue to look beyond traditional learning management systems for  new technologies to make their teams more effective in the field, we see a tremendous opportunity ahead for Mindtickle to lead this movement.”

For additional information:

• Read CEO Krishna Depura’s blog post
• See Mindtickle’s customer stories
• Learn about current job openings at Mindtickle
• Connect with Mindtickle on LinkedIn

About Mindtickle

Mindtickle provides a comprehensive, data-driven solution for sales readiness and enablement that fuels revenue growth and brand affinity. Its purpose-built applications, proven methodologies, and best practices are designed to drive effective sales onboarding and ongoing readiness. With Mindtickle, company leaders and sellers can continually assess, diagnose and develop the knowledge, skills, and behaviors required to effectively engage customers and drive growth. Companies across a wide range of industries use Mindtickle’s innovative capabilities for on-demand, online training, bite-sized mobile updates, gamification-based learning, coaching and role-play to ensure world-class sales performance. Mindtickle is a global, privately-held company headquartered in San Francisco, CA. Visit them at www.Mindtickle.com.

Media Contact:

Public Relations at Mindtickle

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