Gong.io Analysis: $335M Raised
What is Gong.io?
Gong.io is a revenue AI platform that leverages conversation intelligence to analyze customer interactions, helping sales teams improve close rates and overall performance. It is particularly relevant for Sales Development Representatives (SDRs) as it provides insights that enhance engagement and pipeline management.
Location
United States
Employees
1001-5000
Founded
2015
Industry
SaaS, Salestech, AI/ML
Revenue
$300M
Autonomy Level
Fully autonomous
Sales Tech Capabilities
Prospecting, Enrichment, Personalization, Reply Handling, CRM Automation, Analytics
Target User Segment
SMB/Startup
Product Features & Capabilities
- Gong Engage, Gong Forecast, Gong Data Engine, Gong AI, actionable insights, boost win rates, increase average deal size, enhance revenue per representative.
- Prospecting, Enrichment, Personalization, Reply Handling, CRM Automation, Analytics
How much Gong.io raised
Series E - $250 million
June 3, 2021Lead Investor: Franklin Templeton, Coatue, Salesforce Ventures, Sequoia, Thrive Capital, Tiger Global
Series C - $65 million
December 3, 2019Lead Investor: Sequoia Capital
Series A1 - $20 million
July 12, 2017Lead Investor: Norwest Venture Partners, Shlomo Kramer, Wing Venture Capital, NextWorld Capital
Customer Success Story
Gong.io has notable customers across various industries, including Uberflip, Paycor, Corporate Traveler, Iron Mountain, and Elsevier.
1. Uberflip: Operating in the enterprise software and network solutions industry, Uberflip achieved a 20% increase in win rate and a 13% increase in annual contract value (ACV) after implementing Gong's platform. Ken Edwards, Senior Director of Commercial Revenue at Uberflip, emphasized that Gong serves as an insights engine that helps their staff focus on the right areas and improve customer engagements.
2. Paycor: In the software development industry, Paycor experienced a remarkable 141% increase in deal wins after adopting Gong's AI-powered platform. This transformation enhanced their pipeline management and forecast accuracy, with VP Jeff Weaver calling Gong "the most monumental technology to come along since the CRM itself."
3. Corporate Traveler: This travel agency improved its sales efficiency by 20% through Gong's platform, which helped streamline customer onboarding and created a single source of truth for customer interactions. Ben Hobbs, VP of Customer Success, noted the importance of ensuring customers feel heard.
4. Iron Mountain: In the enterprise information management sector, Iron Mountain saw a 148% improvement in metric achievement and reduced new-hire ramp time by three months after implementing Gong. They reported that 60% of new reps now hit their main metrics within five months, compared to only 9% before using Gong.
5. Elsevier: Operating in the IT Services and IT Consulting industry, Elsevier achieved a 35% boost in deal velocity and a 45% growth in deal size by utilizing Gong's Revenue Intelligence Platform. Tim McGee, VP Global Sales Operations, highlighted Gong's essential role in their go-to-market operations.
These examples illustrate Gong's significant impact on its clients, enhancing their sales processes and overall efficiency.
1. Uberflip: Operating in the enterprise software and network solutions industry, Uberflip achieved a 20% increase in win rate and a 13% increase in annual contract value (ACV) after implementing Gong's platform. Ken Edwards, Senior Director of Commercial Revenue at Uberflip, emphasized that Gong serves as an insights engine that helps their staff focus on the right areas and improve customer engagements.
2. Paycor: In the software development industry, Paycor experienced a remarkable 141% increase in deal wins after adopting Gong's AI-powered platform. This transformation enhanced their pipeline management and forecast accuracy, with VP Jeff Weaver calling Gong "the most monumental technology to come along since the CRM itself."
3. Corporate Traveler: This travel agency improved its sales efficiency by 20% through Gong's platform, which helped streamline customer onboarding and created a single source of truth for customer interactions. Ben Hobbs, VP of Customer Success, noted the importance of ensuring customers feel heard.
4. Iron Mountain: In the enterprise information management sector, Iron Mountain saw a 148% improvement in metric achievement and reduced new-hire ramp time by three months after implementing Gong. They reported that 60% of new reps now hit their main metrics within five months, compared to only 9% before using Gong.
5. Elsevier: Operating in the IT Services and IT Consulting industry, Elsevier achieved a 35% boost in deal velocity and a 45% growth in deal size by utilizing Gong's Revenue Intelligence Platform. Tim McGee, VP Global Sales Operations, highlighted Gong's essential role in their go-to-market operations.
These examples illustrate Gong's significant impact on its clients, enhancing their sales processes and overall efficiency.
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Financial Overview
$300MEstimated Revenue
$335MTotal Raised
Series E$250 million
June 3, 2021
Investors: Franklin Templeton, Coatue, Salesforce Ventures, Sequoia, Thrive Capital, Tiger Global
Series C$65 million
December 3, 2019
Investors: Sequoia Capital
Series A1$20 million
July 12, 2017
Investors: Norwest Venture Partners, Shlomo Kramer, Wing Venture Capital, NextWorld Capital
