Sales Engagement Platform SalesLoft announced that it hit the $100 million ARR mark, following 50% growth over the past year. Since announcing its unicorn valuation in January ($1.1 billion), the firm has grown revenue by nearly 40%. Last quarter, it “far exceeded its financial plan.”
It took roughly nine quarters to double their ARR.
SalesLoft ranked 1210 on the Inc. 5000 2021 list. SalesLoft revenue grew 401% over the past three years, a 71% CAGR.
“Everything we’re doing is coming back to, ‘how do we empower our customers to deliver their customers with an amazing sales experience?'”SalesLoft CEO Kyle Porter
SalesLoft, which opened an EMEA office in April 2019, has grown revenue 125% in the European market over the trailing twelve months. It plans to increase its European staff by 120% over the next year and open a German data center.
Its top markets in EMEA are the UK, Ireland, France, and Germany.
SalesLoft benefited from being the first SEP with a European office. While the revenue team can create content in any language, the UI remains English only. Their NLP is English only, but Porter anticipates supporting additional languages for conversational intelligence “in a very short time.”
SalesLoft is also enjoying strong growth in APAC even though it lacks a physical presence in the region.
“While we don’t have physical locations in Asia, we have many customers there and in Australia,” Porter told GZ Consulting. “We have many customers that are US-based businesses with operations there. So we’re global in our customer base and usage of the application, but we don’t have feet on the street in the Asian or Australian market yet.”
The pandemic has driven demand into new segments as companies are looking to establish new communications channels with the loss of trade shows and face-to-face meetings. Customer growth has been “across the board.” SalesLoft has “really expanded to Main Street” as firms realized they needed to adopt a “digital sales motion.”
The pandemic “brought about some, incredible businesses that traditionally took a little bit longer to buy Sales Engagement,” explained Porter. “We’ve got companies like 3M and Liberty Mutual and McGraw Hill and S&P and carpet manufacturers. It’s moved outside of tech to manufacturers, health care, financial services, [and] a number of different professional services. That’s been one of the great lessons learned post-pandemic.”
“As companies have pivoted to a full digital selling motion, SalesLoft has become a mission-critical partner and platform,” wrote the firm. “Only SalesLoft combines the three most critical products in digital selling – Cadence for managing multi-channel communications, Conversations for recording and analyzing meetings, and Deals for managing opportunities and pipeline.”
Continue to Part II which discusses the addition of Calendly CEO Tope Antowana to SalesLoft’s board.