Salesforce pipeline generation platform provider Qualified.com Inc. said today it has closed on a hefty $95 million round of funding, bringing its total amount raised to date to $163 million.
The Series C round was led by Sapphire with significant participation from Tiger Global. The likes of Norwest Venture Partners, Redpoint Ventures and Salesforce Ventures also participated.
According to Qualified founder and Chief Executive Kraig Swensrud, today’s round is evidence of the company’s unique opportunity to disrupt the legacy business-to-business pipeline generation process. Qualified believes it’s well-placed to do that, having recently announced the launch of its Pipeline Cloud offering that brings new processes and technologies to chief marketing officers.
The software works by transforming customer’s corporate websites into a sales portal. It can help companies to understand who their most valuable site visitors are, uncover signals to establish their buying intent and more.
Pipeline Cloud breaks the process down into a series of steps. It begins with the Qualified Signals process that’s designed to provide sales and marketing teams with more insights around site visitor’s buying intent. Meanwhile, Qualified for Outbound is designed to help sellers better engage with prospects, while Qualified for ABM helps with converting ad spend. Finally, Qualified Conversations can help to connect sellers to site visitors in an instant sale meeting, while they’re still browsing through the website.
“With this new capital, we will bring the vision of the Pipeline Cloud to Salesforce customers around the world,” Swensrud said. “With Qualified, B2B companies can tap into their most valuable asset — the corporate website — to meet with buyers and generate pipeline faster, and more cost-effectively, than ever before.”
The funding follows a period of rapid growth for Qualified, which saw its revenue jump more than 400% in the last year off an undisclosed base. The company also reported fivefold growth in its team headcount, and its net revenue retention rate, a measure of recurring revenue retained from existing customers over the past year, grew to 150%. Qualified has some impressive names on its customer list too, including Adobe Inc., VMware Inc., Databricks Inc., Fujitsu Ltd. Autodesk Inc. and GE Healthcare.
Sapphire Partner Rajeev Dham, who becomes Qualified’s latest board member following today’s round, said he was most impressed by the company’s vision of transforming corporate websites into a sales and marketing machine.
“We see huge potential for Qualified to create and define a new category within ABM, and we’re looking forward to partnering with Kraig and his entire team to help grow and revolutionize the modern B2B buying process,” Dham said.