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Enterprise sales enablement platform Gong.io today raised $250 million in a series E funding round valuing the company at $7.25 billion, more than triple its previous valuation ($2.2 billion). CEO and cofounder Amit Bendov says the new capital, which brings Gong’s total raised to $584 million, will be put toward product development, hiring, and customer acquisition.
Forty-six percent of business-to-business (B2B) sales reps list lead quantity and quality as their top challenge. That’s perhaps why Gartner predicts that by 2025, 60% of B2B sales organizations will transition from experience- and intuition-based selling to data-driven selling, merging their sales process, sales applications, sales data, and sales analytics into a single operational practice. The stakes are high, given that suboptimal and delayed leads can have catastrophic effects. Harvard Business Review found that there’s a 10 times drop in lead qualification when reps wait longer than 5 minutes to respond and a 400% decrease when they respond within 10 minutes versus 5 minutes.
