SoftBank Vision Fund 2, others double down on Mindtickle bet

Pune and San Francisco based MindTickle, which helps small and large companies perfect their sales pitch, has turned into a unicorn after securing an additional $100 million (around Rs 742 crore as per current exchange rates) in a Series E funding round led by SoftBank Vision Fund 2.  

Existing investors Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures also participated in the round.  

The latest fundraise comes on the heels of a $100 million investment led by Softbank last November 2020 With a total of $281 million in total funding, the company is now valued at $1.2 billion, according to a statement added. 

Sales enablement technologies are projected to grow to $4.23 billion by 2027, and the conversation intelligence market will reach $13 billion by 2025. 

"Revenue leaders understand that sales readiness is a mission-critical component of their strategy to consistently meet or exceed their goals. They are taking more square ownership of these programs, and partnering with their sales enablement, revenue operations, and training teams to create a continuous state of excellence across their organisations," Krishna Depura, Mindtickle CEO and co-founder, said. 

"Since our last round, Mindtickle has consistently delivered ahead of plan across all metrics. We are encouraged by their increasing customer additions, contract expansions and new product launches and acceptance. We are delighted to be increasing our exposure to Mindtickle as they enter their next phase of growth," Sumer Juneja, Partner, SoftBank Investment Advisers, added. 

Mindtickle was founded in 2012 by Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali. The company, which initially began as a gamification startup in 2006 called ‘TeraMeraIdea’, eventually pivoted offer to the sales enablement solutions.