Sales engagement vendor SalesLoft acquired Costello earlier this week. Costello, which describes itself as an opportunity management software company, supports quick deal updates, guided selling playbooks, pipeline collaboration, and real-time CRM sync. Other features include deal management, dashboards, and dynamic note-taking.
SalesLoft said that the acquisition “furthers SalesLoft’s mission to help account executives not only prospect and build pipeline, but manage their day and their deals, from creation through close.”
“Combining Costello and SalesLoft gives all sellers, whether they’re pipeline builders, closers, or responsible for upsells and renewals, a platform to deliver the ultimate buyer experience and close more revenue. Sales engagement is now the place all reps can start and end their days,” said SalesLoft CEO Kyle Porter.
“Sales Engagement isn’t just about generating pipeline. It is about all the people who engage with customers and prospects throughout their journey. We are working with our customers to constantly evolve what sales engagement can do for them. It now represents the complete workflow application for sellers. It’s a giant leap towards solving the sales challenges I hear from revenue leaders all the time.”SalesLoft CEO Kyle Porter
Costello has been available as a SalesLoft application partner since last year. “The companies will continue to support existing Costello customers, invest and enhance product capabilities, and natively integrate Costello capabilities into the SalesLoft platform,” stated the firm.
SalesLoft listed four sales challenges that are addressed by the merged company: updating opportunities, app switching, new hire account messaging, and simplified pipeline review.
During calls, Costello acts as a “real-time co-pilot” that ensures sales reps ask key questions, handle objections, and tell relevant customer stories.
Costello displays a Deal Dashboard and Deal View from within SalesLoft for pipeline management. Deal Status elements include deal stage, days in stage, days active, and deal amount. Costello also calls out Deal Gaps (missing deal fields, days past due), Stakeholders (buyers’ circle with roles and concerns), Call Summary with notes, and a deal timeline.
Costello is SalesLoft’s second acquisition. They previously acquired NoteNinja which served as the basis for their meeting scheduling and intelligence functionality. SalesLoft plans to natively integrate Costello functionality into the SalesLoft platform while investing and enhancing product capabilities.
SalesLoft supports over 2,300 companies and has grown revenue 1,000 percent over the past three years. The firm has 450 employees.
“Sales Engagement platforms have started to make significant progress with sales organizations. When we look across our dataset of high-growth early-adopters, 69% are leveraging a Sales Engagement platform today. As the sales engagement platform market looks to expand to the more widespread market of sales reps, we expect the platform’s feature set will also expand beyond traditional prospecting channels to serve all the day-to-day needs of the sales rep including enablement, planning and forecasting and productivity.”Craig Rosenberg, Co-founder and Chief Analyst of TOPO
Financial details were not disclosed.
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