Groove raises $45m Series B funding round led by Viking Global Investors

Groove, a sales engagement platform for enterprises using Salesforce, has announced that it has raised a $45m Series B round of funding, led by Viking Global Investors.

Existing investors Capital One Ventures, Level Equity, Quest Venture Partners, and Uncork Capital also participated in the round.

Groove plans to use the funding to expand its international operations and accelerate its momentum in the enterprise segment of the market, having grown enterprise ARR 114% in the past twelve months with new customers that include Activision, iHeartMedia, LexisNexis, New Relic, TIBCO, Veeva, and Wintrust.

The global shift to digital selling as a result of the pandemic is driving convergence in two of the fastest-growing sales technology categories: sales engagement and revenue operations. As enterprises look to manage large and distributed revenue teams, they are seeking platforms that integrate the productivity benefits of workflow automation with the insights gleaned through revenue operations software.

“Our enterprise customers want to enable the modern seller while ensuring the highest levels of enterprise security and compliance,” said Chris Rothstein, co-founder, and CEO of Groove. “We’re capturing a significant amount of enterprise market share from our competition because our platform was built for the needs of large, complex organizations that rely on Salesforce as their system of record. We bring automation to the seller instead of requiring that they work out of a separate system. This flexibility ensures extremely high user adoption rates, even with technology averse sellers in non-tech industries.”

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