Account Based Prospecting Platform LeadIQ announced a $30 million Series B led by Cathay Innovation, with Fresco Capital, Strong Ventures, and Eight Road Ventures joining the round. The round brings total funding to $42 million.
The funds will be deployed to accelerate the product roadmap in account prioritization, buying team and contact personalization, and sales team collaboration. Funds will also be used to fill key management positions for managing its growth and expansion as CEO Mei Siauw plans to double the firm’s headcount over the next eighteen months.
LeadIQ still has $6 million available from its Series A but is looking to expand from lead management into broader account management; thus, it is raising the necessary funds for new product development.
According to Cathay Innovation, LeadIQ has “some of the best enterprise SaaS unit economics we’ve seen.”
Alex Wilhelm at TechCrunch reported that “the company also sports net retention figures of around 125% and a strong ratio of account size versus customer acquisition costs. Those are the sorts of metrics that SaaS investors covet.”
LeadIQ, founded in 2015, is based in San Francisco and Singapore. It employs a remote workforce of 115 in 22 countries and serves companies in 45 countries. Over the past year, the company quadrupled its ARR to “eight digits.” The firm supports over 20,000 sales professionals across 1,200 enterprise and mid-market deployments.
LeadIQ functionality helps sales teams “focus on the right activities and automate the rest.” Its Chrome extension supports prospecting and lead capture from LinkedIn Sales Navigator, capturing both individual contacts and filtered contact lists. Leads may be exported to Salesforce, HubSpot, Outreach, and Salesloft, with duplicates blocked. Contacts sent to Outreach and Salesloft kick off cadences.
“With 65% of teams missing revenue targets, outbound sales efficiency is a major challenge for enterprises globally,” said founder and CEO Mei Siauw. “Today, account-based prospecting is still highly manual and time-consuming thanks to fragmented data across multiple systems, repetitive busywork, low-quality research, and varying privacy laws. We built LeadIQ to help sales teams everywhere make authentic prospect connections with a more thoughtful approach. The numbers speak volumes, where we tripled growth in our enterprise and mid-market segments year-over-year. With this latest financing, we look forward to working with current and new investors like Cathay Innovation, who have the global reach and local market expertise across the US, Europe, and Asia to help us scale further during this next phase of growth.”LeadIQ CEI Mei Siauw
Other features include
- Email verification
- Lead, Contacts, and Account enrichment and update
- Territory management recognizes when reps are capturing leads that do not conform with their territory
- Contact tracking that alerts reps when contacts change companies or titles.
- An admin portal that helps customers comply with regulations such as GDPR and CCPA
“Led by a resilient and tenacious CEO with incredible vision, LeadIQ offers a next-gen platform that is the glue that unifies sales at the top of the funnel to provide the most comprehensive solution on the market,” said Cathay Innovation CEO Denis Barrier. “Its workflow automation builds a strong moat and competitive advantage, which is critical with the pandemic-era digital transformation and subsequent talent wars forcing sales leaders to prioritize efficiency and effectiveness beyond the quota. We look forward to leveraging our resources worldwide to accelerate the company further onto the global stage.”
LeadIQ begins at $720 per rep on an annual basis for the Starter Plan. Sales reps receive 250 verified emails per month and 25 mobile numbers. However, the Starter Plan only supports Google Sheets and HubSpot Capture.
The Pro Plan doubles the price and monthly data plan. Pro includes Salesforce and SEP integrations and lets users enrich CSV files of up to 100 rows.
Pricing for the Enterprise Edition runs at $135 per rep per month and includes job change notifications, prospecting, a team analytics dashboard, and priority support. The Enterprise plan requires a minimum of twenty users, so it begins at $32,400. LeadIQ did not disclose its current valuation.