ToutApp Raises $3.35 Million to Fuel Corporate Expansion and Product Development
Sales Acceleration Platform Leader Grew Revenues More Than 300% During 2013
SAN FRANCISCO, Calif., January 28, 2014-- ToutApp, the leader in sales acceleration solutions, today announced the completion of a $3.35 million in a Series A funding round led by Sigma West. ToutApp's existing investors include Founder Collective, 500 Startups Launch Fund, and prominent angels including Esther Dyson, Eric Ries and Scott Banister. ToutApp will use the investment to further its product development and expand its sales and marketing teams to meet the strong demand for its sales acceleration platform, which enables sales teams to streamline and track sales email and presentations to close more business.
"TK is a focused, scrappy, and resourceful entrepreneur. The more I talked to customers the more excited I became about investing because customers were delighted and dependent on ToutApp," said Sigma West Managing Director Greg Gretsch. "ToutApp is changing the way salespeople use email to get the job done -- it actually helps close more deals rather than other CRM tools that simply manage and track leads."
In 2013, ToutApp's revenues grew by more than 300 percent, with a whopping 26-fold increase in enterprise deals closed, in which management adopted ToutApp across the entire sales organization. ToutApp's self-service business also saw strong demand, growing by 162 percent.
By leveraging tracking, templates and real-time analytics, ToutApp helps sales reps process more leads, gain greater customer intelligence and close more business. The ToutApp platform also generates unique insights for sales and marketing management to understand which messaging drives results across the sales process.
This latest investment will allow ToutApp to drive continued product development, with a focus on delivering new features that streamline how teams sell effectively over email, phone and presentations in 2014.
"During the last two years we have focused on creating a fantastic product and platform vetted by our enterprise customers," said ToutApp CEO and founder Tawheed "TK" Kader. "Now that we've built a solid growth engine and have sufficiently capitalized the business, we're excited to aggressively expand our sales and marketing efforts so that every sales team can benefit from ToutApp's sales acceleration platform."
ToutApp is the leading provider of sales acceleration solutions that help sales teams streamline communications to close more deals. ToutApp's robust tracking, templates and analytics tools help sales teams successfully manage their communications and increase overall engagement throughout the sales process. Founded in 2011, ToutApp has more than 60,000 salespeople registered on its platform, with enterprise customers including Responsys, Experian, Atlassian, Box, and more. For more information, please visit www.toutapp.com.
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