LeanData Announces Series B Funding Round Led by Sapphire Ventures
SUNNYVALE, Calif., December 20, 2016-- LeanData, a leader in sophisticated lead management, announced today that it has received $10 million in Series B funding led by Sapphire Ventures and joined by existing investors Shasta Ventures and Correlation Ventures. The financing will help support new partnerships and expand the reach of LeanData's strategic solution, which delivers a superior sales experience by connecting customers with the right reps at the right time.
"We have been tracking LeanData's progress the last few years, and it's clear that the company has developed a unique routing solution that solves a foundational challenge every business faces," said David Hartwig, a managing director at Sapphire Ventures. "Sapphire is focused on identifying innovative entrepreneurs and bringing our experience and global network to bear in helping them build category-defining businesses. This is another example of that philosophy as we invest in a LeanData team that is transforming how organizations manage their sales process."
As part of this investment, Hartwig will join the LeanData board of directors.
Co-founder and CEO Evan Liang said LeanData had not been actively looking for additional funding as the company already was self-sustaining. But he became excited about the opportunity to partner with Sapphire because the venture capital firm shares LeanData's vision about how to grow a sustainable business and passion for making customers successful.
"We're thrilled that Sapphire not only wants us to invest in better products for our existing customers, but also help us share our solution with an even wider audience," said Liang, who co-founded LeanData in 2012 with Chief Technical Officer Kelvin Cheung. "Businesses are learning that smart lead management is crucial for success. Sapphire's investment is further validation that LeanData is an industry leader in helping companies achieve their goals."
LeanData's strategic routing is an elegant solution for a costly problem in business: matching the most relevant people in an organization to potential buyers. The company's recent innovation is a first-of-its-kind visual representation of lead flow that gives organizations an unprecedented level of control over their sales process.
"It has been amazing to watch the loyal following that LeanData has built with its customer base," said Ravi Mohan, managing director of Shasta Ventures, which led LeanData's Series A funding round in 2014. "We also have a great relationship with Sapphire. That's why we believe they are the ideal partner to help bring LeanData to the next level."
LeanData simplifies the complexity of the B2B sales process through a better SaaS lead management platform. LeanData's flexible solution can be tailored to any business initiative, which includes the growing trend toward account-based strategies. With more than 200 customers, LeanData manages the sales engines that run some of the world's leading businesses – ranging from fast-scaling startups to publicly traded companies across all industries.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a platform for business development and operational excellence to help them accelerate growth. With over $2.4 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage. Find us in Palo Alto and London and at www.sapphireventures.com
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