Sales Intelligence Vendors (and a Few Others) in the Inc. 5000 List

Inc 5000 Rank, Revenue, and CAGR Data (2014-2018 Lists)
Inc 5000 Rank, Revenue, and CAGR Data (2014-2018 Lists)

Several sales and marketing intelligence firms made the 2018 Inc. 5000 list including DiscoverOrg, Zoominfo, and FullContact.  Signaling difficulties in the predictive analytics space, no firms from that category made the Inc. 5000 list.

Inc. magazine lists the top 5,000 US firms based upon three-year revenue growth rates. Eligible firms must have at least $100,000 in 2014 revenue and $2 million by 2017.

Zoominfo made the list for the fourth consecutive year, with revenue reaching $59.4 million and a three-year CAGR of 45%.  Zoominfo grew its headcount by 50% between July 2017 and July 2018 and raised its customer base to 8,000 enterprise customers.

“The Inc. 5000 is the measuring stick for successful, high-growth, private companies,” said new Zoominfo CEO Derek Schoettle. “Since joining ZoomInfo earlier this summer, I’ve seen the tech innovation and the business demand for trustworthy customer data that makes me confident that ZoomInfo will continue to make this prestigious list for years to come.” 

Zoominfo added over 100 staff and 2,000 customers in the past year.  At their June Growth Acceleration Summit, VP of Corporate Development Phil Garlick attributed the firm’s success to hard work, teamwork, sweat, and tears. 

SalesLoft made the list for the first time as the firm caught fire after launching their sales engagement platform a few years ago.  Revenue grew at a 77% three-year CAGR to $13 million in 2017.  SalesLoft also placed seventh on the most recent North American Deloitte Fast 500.  The Atlanta-based firm recently acquired NoteNinja to integrate its meeting intelligence software into the broader set of SalesLoft sales engagement capabilities. 

CEO Kyle Porter is “excited” to “empower” his customers in delivering “a better sales experience.  Buyers around the world are recognizing the differentiated benefits of purchasing products and solutions from sellers who use SalesLoft.” 

Other first-timers were identity resolution vendor FullContact (76% three-year CAGR to $14.0 million) and data hygiene and enrichment vendor Stirista (23% three-year CAGR to 5.0 million). 

“Marketers, product professionals, and data analysts have had a lot of success using FullContact to enrich the data that exists in their CRM, marketing automation, and other databases,” said Scott Axcell, VP of Marketing at FullContact. “From audience insights to customer care, there is no shortage of use cases for accurate, enriched customer data.” 

FullContact acquired Mattermark and its company and event database last December to complement the FullContact people dataset. 

While Madison Logic once again made the list, their growth stalled with revenue declining $200,000 last year to $54.2 million.  Their three-year CAGR was 27%. 

“We achieved this honor through the strength of our team and success of our customers. Our platform, ActivateABM, helps the most innovative global companies accelerate growth by converting top prospects into customers. By integrating directly into the martech stack, we can deliver solutions that are simple, strategic and entirely ROI-focused,” said Tom O’Regan, Madison Logic’s CEO. “We are thrilled to be recognized for the sixth time and proud of the momentum we’ve achieved on our mission to make the B2B marketer the driving force for growth and change in the enterprise.” 

CreditSafe USA made the list for the second time, growing revenue to $13.3 million last year with a three-year CAGR of 52%.  However, most of the growth was in the first two years with 2017 revenue only growing $500,000.  The firm has over 100,000 subscription customers, 10,000 in the United States. 

“Our team is extremely humbled to be included in such an elite group of high-growth companies,” said Matthew Debbage, CEO of Creditsafe USA and Asia. “When we established here six years ago, there was one large entrenched player in the business credit space in the US, so we felt our success was far from a sure thing. This recognition really helps put our hard work into perspective.” 

“Being the younger, more nimble and tech-friendly player in the space has given many advantages as we strive to provide exceptional value to our customers,” continued Debbage. “We know that if are going to disrupt the industry, then we’d need to out-hustle our competition each and every day and really want to thank all those customers who’ve taken a chance on us.” 

CreditSafe primarily provides credit data in the US, although they did enter the US and UK sales intelligence market a few years ago with Sales Joe.  CreditSafe financials and filings are at the core of several European product lines including DueDil. 

CreditSafe maintains offices in eight European countries, Japan, and the United States. The company serves the credit, collections, sales, marketing, and compliance functions.

Private company profiler Pitchbook is no longer eligible for the list as they were acquired by Morningstar, but the firm disclosed a 60% CAGR since 2009.  They have grown their user base from 11,000 to 18,000 since the end of 2017.  Since the beginning of the year, Pitchbook has grown from “just over” 600 employees to 908.

Finally, Pure Incubation made the list for the fifth year in a row posting a 43% three-year CAGR on $20 million in revenue.  The Massachusetts demand generation firm offers data and marketing services for the medical and technology sectors.  Products include PureB2B (Content Syndication and Intent Marketing), PureMed (Healthcare Providers and Facilities Database), ProspectOne (B2B Intelligence and Data Services), and Demand Science (Philippines-based Back Office Marketing, HR, Seles Development and Engineering Services).

Pure Incubation’s consistent growth “is another testament that we are building a strategically relevant and innovative company in the demand generation space,” said Chairman Barry Harrigan.  “Pure Incubation’s continued placement on the list is not something we take for granted and we are going to keep pushing to appear again in 2019.”

DiscoverOrg made the list for the eighth-straight time.  I covered their achievement yesterday.

SalesLoft LinkedIn SNAP Enhancements

InMails are now available within SalesLoft and Salesforce.
InMails are now available within SalesLoft and Salesforce.

SalesLoft added enhanced LinkedIn SNAP messaging tools to its sales engagement services.  Sales reps can now send InMails, request connections, submit introduction requests, and conduct research from within SalesLoft and Salesforce.  These steps can be built into SalesLoft cadences.

“According to our data science team’s research on derived cadences, more than half of all steps outside of email and phone in SalesLoft cadences are already LinkedIn actions,” blogged SalesLoft Product Marketing Manager Sunshine Levin. “The ability to incorporate LinkedIn Sales Navigator social selling steps from within SalesLoft is important to you, and we listened!”

At SalesLoft’s 2018 Rainmaker event, Doug Camplejohn, VP of Product Management Sales Solutions at LinkedIn, cited LinkedIn research concerning InMail efficacy.  While emails have only a 3% response rate, InMails average a 15% response rate.  Even more impressive, the best sales reps can achieve greater than a thirty percent response rate.

“LinkedIn-specific steps help salespeople stay focused, do less application switching, and deliver a better sales experience,” said Levin. “The TOPO 2017 Sales Development Touch Report states that more than 80% of sales professionals are leveraging the triple-touch approach of email, phone, and LinkedIn in their sales cadences. Furthermore, over 50% of touches outside of email and phone are through LinkedIn.”

Reps must have active Team or Enterprise Sales Navigator accounts in order to take advantage of this new feature set.

Also new to SalesLoft is a Zipwhip app which allows reps to insert text messaging steps into their cadences.  Texts can also be sent and received from a business phone from within SalesLoft.  Inbound and outbound messages are grouped into conversations and displayed as part of the contact’s activity feed.

SalesLoft Zipwhip text messaging app
SalesLoft Zipwhip text messaging app

SalesLoft Acquires NoteNinja

NoteNinja transcribes calls, tags them, and supports quick topic searching for insight discovery.
NoteNinja transcribes calls, tags them, and supports quick topic searching for insight discovery.

Sales Engagement vendor SalesLoft acquired B2B SaaS Collaboration tool Noteninja. Durham-based NoteNinja provides meeting intelligence which transcribes, tags, and annotates meeting recordings. The service is managed by an AI bot which recognizes upcoming meetings on the rep’s calendar and attends the meeting.

“I realized our category of software was missing something important,” said SalesLoft CEO Kyle Porter. “Neither us nor other engagement solutions were solving an additional problem. Customers told me they need more insights on what’s actually happening during sales meetings. They realize (and Gartner reports) ‘three out of four customers report spending more with a company because of a positive buying experience’. Modern revenue organizations need meeting intelligence software to solve painful problems.”

SalesLoft listed a set of sales challenges that are addressed by meeting intelligence platforms:

Meeting Challenges. Source: SalesLoft Blog.
Meeting Challenges. Source: SalesLoft Blog.

Tagging assists with meeting review, helping users search for key moments such as pricing discussions or prospect objections. According to Noteninja, “No longer do you have to click around a meeting aimlessly looking for the right spot. Save time and quickly hone [sic] in on the moments that matter for you and your team.”

Comments can be shared with co-workers or management, providing “game-film for meetings.” These excerpts can also be used for new hire training, objection handling, and learning from top reps.

“I’m incredibly proud for what this means to our customers and the advanced opportunity they will now have to deliver a better selling experience to their customers.  With the acquisition of Noteninja, SalesLoft is providing our customers with the first full suite Sales Engagement Platform that combines sales cadences with sales intelligence, serving AEs, SDRs, CSMs, managers, and execs to generate the most revenue.”

  • SalesLoft CEO Kyle Porter

Noteninja supports major web conferencing services including GoToMeeting, Zoom, JoinMe, and WebEx. Google Calendar, Exchange, and Office 365 productivity applications are also supported. While a SalesLoft connector already exists, the firm is working on a native integration of NoteNinja capabilities which will be offered as a premium feature set within their product line.  SalesLoft is targeting August for native availability.

SalesLoft complies with state privacy laws.  “We deploy call recording governance for our current dialer and will be incorporating our technology across the platform as we integrate,” said VP of Product Strategy Sean Kester.  “We also work alongside the governance and compliance assets deployed by screen sharing technologies.”

NoteNinja does not automatically join meetings with generic (consumer) emails nor does it join meetings with only internal staff. However, this rule can be overridden by including the Noteninja assistant in the attendees list.

Acquisition terms were not disclosed.

SalesLoft has grown to 277 employees with offices in Atlanta, Durham, and San Francisco. SalesLoft supports over 2,000 companies including Square, MuleSoft, Alteryx and Dell.

SalesLoft is ahead of plan in 2018.  Q1 was above a “very aggressive” revenue plan to once again double revenue in 2018.  Q2 is tracking 120% of plan.

Approximately one-third of NoteNinja customers are joint licensors of the SalesLoft solution.

E-Mail Guessing Strategies Work Poorly

I’ve long suspected that email guessing strategies based upon corporate email templates are risky.  If the hit rate is low, you can quickly undermine your sender score and hurt your firm’s ability to communicate with customers and prospects.

Almost every sales rep does it as a quick workaround.  Hell, I’ve done it.  But, as a strategy for building marketing datasets, it is a dead end.  When sales reps do it, there is a high probability that their well drafted email will bounce.  When marketing does it, they will kill their email deliverability.

Two companies provide evidence to the failure of this strategy — DiscoverOrg and SalesLoft.

SalesLoft offered the Prospector service in 2014. It was a gerry-rigged Google search of LinkedIn that employed an email guessing strategy. The service was discontinued when CEO Kyle Porter decided to focus on Sales Engagement.
SalesLoft offered the Prospector service in 2014. It was a jerry-rigged Google search of LinkedIn that employed an email guessing strategy. The service was discontinued when CEO Kyle Porter decided to focus on Sales Engagement.

SalesLoft began as a LinkedIn scraping service that employed Google to build lists and then utilized email guessing to enrich the lists with dubious quality emails.  SalesLoft Prospector grew into a multi-million dollar business, but CEO Kyle Porter saw the business as unsustainable.   Instead, Porter used revenues from Prospector as a financial bridge for building out a sales engagement Cadence service which has grown rapidly.  Porter describes their service as “sincerity at scale.”

Yesterday, they announced the acquisition of partner SalesNinja which provides integrated meeting analytics for their sales engagement platform.   The tool transcribes and tags meetings for sales coaching, new hire training, and meeting note searching.  The goal is to improve sales efficiency and efficacy while identifying best practices.  Instead of dubious lists, the firm is looking to build quality conversations between sales and prospects.

SalesLoft’s mission is to “enable salespeople to sell with true intent and sincerity,” said Porter several years ago.  “The concept of getting a good prospect list and pounding it to death is old, trite and has become a terrible strategy and drag on our customer’s brands. We have never intended to participate in that process. SalesLoft Cadence is a different process, creates a different relationship, much different results and is executed by professionals with professional solutions.”

DiscoverOrg was never tempted by such strategies and employs a large editorial team to research and maintain executive profiles.  In a recent test of 2,700 editorially gathered emails that were also SMTP verified, DiscoverOrg found that basic template guessing was only 62.4% accurate.  When nickname substitution was employed, the rate only rose to 66%.  When they analyzed the incorrect guesses, they came up with multiple reasons for failure:

  • Large companies have multiple email formulas
  • Brands and subsidiaries create complications
  • Subdomains are becoming more popular in email addresses
  • Some companies use multiple email domains for different roles
  • Nicknames are very common
  • Middle initials and middle names
  • Duplicate names
  • Foreign names
  • Secretive email formulas

“A lot of data providers offer ‘confidence levels’ or likelihoods that a specific email is good,” blogged DiscoverOrg SVP of Data and Research Derek Smith.  “They’re just peddling their own guesses. Anybody can pass along their best guess at an email. Real sales intelligence gives you accurate, actionable data that won’t result in a bounce of your carefully crafted prospecting message.”

In the end, prospecting shortcuts are problematic.  The best sales and marketing professionals employ accurate data and insights for their messaging.  Furthermore, in the era of GDPR (three days from now), you can’t have explicit consent to communicate with an EU citizen when you are guessing at how to contact her.


DiscoverOrg Study

 

 

SalesLoft $50M Series C

SalesLoft supports email templates and cadences for managing multi-channel communications.
SalesLoft supports email templates and cadences for managing multi-channel communications.

Atlanta sales engagement vendor SalesLoft received $50 million in Series C funding this week, bringing their total funding to $75 million. Insight Venture Partners led the round and was joined by Emergence Capital, which had participated in previous rounds, and LinkedIn. Funds will be deployed to add another 200 employees in Atlanta, San Francisco, New York, and Europe.

While the market value was not disclosed, the Atlanta Business Chronicle reported the valuation at more that $200 million.

“Things have gotten very noisy for buyers these days. They are bombarded with sales activity via phone, email, social, and many other channels,” said CEO Kyle Porter. “When buyers are able to peel away from those distractions, they still have problems to solve — and an overwhelming range of solutions to sift through. Now more than ever, buyers really need sellers who can rise above all this noise and provide them with a better sales experience — through our product innovation and our people, it’s our mission to help sellers do just that.”

SalesLoft will soon be releasing its SalesLoft Assist artificial intelligence module “which is informed by more than 500 million sales interactions, providing users with dynamic and real-time suggestions.” The firm is also looking to expand its development and partner network.  The recently launched app partner directory already supports thirty partner solutions.

“SalesLoft is one of the most innovative companies in the sales engagement category and a leading provider on the Sales Navigator Application Platform.  SalesLoft has integrated Sales Navigator into their application in a way that provides great user value while protecting LinkedIn member data. We look forward to working with SalesLoft to create even more value for our joint customers in the future.”

  • Doug Camplejohn, VP of Product, Sales Solutions, LinkedIn

“We didn’t create the sales engagement category; our customers did,” noted Porter. “They weren’t satisfied with the tools their teams had to connect and engage buyers. They made their needs clear, and we listened. As a result, sales engagement has evolved from a point solution to the system of record for sales organizations. Users are spending more time within SalesLoft than any other technology, including their CRM. Our customers are leading the way in this exciting new category, which is really just a reflection of their efforts to serve their customers in new, authentic ways.

New SalesLoft Capabilities (Rainmaker Part II)

The Sales Navigator Side Panel supports key functionality with SalesLoft including icebreakers, introductions, connections, and profiles.
The Sales Navigator Side Panel supports key functionality with SalesLoft including icebreakers, introductions, connections, and profiles.

SalesLoft is quite pleased with its previously announced LinkedIn Sales Navigator partnership.  SalesLoft VP of Product Strategy Sean Kester noted that SalesLoft “worked extremely closely with their team” and that SalesLoft has the highest widget use amongst all of LinkedIn’s SNAP partners.  The Sales Navigator app supports real-time news, account information, introductions, ice breakers, connections, and recommended leads.  LinkedIn intelligence is delivered within SalesLoft’s Persona and Company Smart Panels.

“Our organization and thousands of others like us depend on LinkedIn daily for prospecting, insights, social selling, and the tools to build real, authentic relationships with your prospects and customers,” said SalesLoft CEO Kyle Porter.  “In many ways, SalesLoft’s technology has been built to be extremely complementary with that of LinkedIn.”

SalesLoft recently launched a meeting tool which integrates with Outlook and Gmail.  The new service provides calendar links to customers and prospects so they can quickly book time on the rep’s calendar.  Booked meetings are visible within both SalesLoft and Salesforce.  A booked meeting can trigger automation rules such as changing a cadence stage, marking as success, or moving to a cadence such as setting follow up meetings or kicking off a meeting prep cadence.

Calendar settings include default meeting length, daily meeting windows, time zone, and standard message.  Users may continue to use Calendly and Chili Piper for setting meetings.

Another new feature is live website tracking which captures who visited a corporate website and which pages were visited.  Initially, the functionality is cookie based, but SalesLoft will support IP tracking in the future.  Sales reps can use the tracking to leverage past activity (e.g. suggesting additional resources related to past research history) or calling prospects while they are live on a corporate site.

“Live Website Tracking brings a brand new prospect readiness cue to the surface by exposing live and historical website activity to SalesLoft.  When you combine the unspoken signal of website activity with the more explicit signal of email interaction and direct response, you move closer than ever to understanding what the prospect needs and where they are in their buying journey.”

  • SalesLoft Product Marketing Manager Sunshine Levin

SalesLoft has a single-price user model of $139 per month.  The subscription provides full platform capabilities with some dialer minute limits.  Volume discounts are available.

Part I of this article covered SalesLoft’s new App Directory.

SalesLoft Rainmaker Announcements

SalesLoft's announced a new partner app directory at its Rainmaker 2018 user conference. The partnership apps span eight categories and include LinkedIn, Salesforce, Zoominfo, Twitter, Owler, Outlook, and Gmail.
SalesLoft’s announced a new partner app directory at its Rainmaker 2018 user conference. The partnership apps span eight categories and include LinkedIn Sales Navigator, Salesforce, Slack, Zoominfo, Twitter, Owler, Outlook, and Gmail.

Amongst the announcements at their Rainmaker 2018 conference, SalesLoft added an app directory to its service to assist with partner discovery across 28 solutions. Partner applications are split into eight categories with a few listed in multiple categories:

  • CRM: Salesforce
  • Email: Gmail, Outlook, Vidyard (video), Sigstr (signature blocks), and Crystal (AI message coaching)
  • Sales Intelligence: LinkedIn Sales Navigator, Twitter, Owler, and 7 other vendors
  • Sales Data: Zoominfo, Datanyze, and LeadIQ (browser lead capture)
  • Sales Content: DocSend (content management & tracking), Sendoso (swag, startup kits), and Highspot (sales enablement)
  • Sales Coaching: ExecVision, Gong.io, NoteNinja, and TalkIQ (all four transcribe calls and analyze them)
  • Sales Productivity: Slack, Engagio, Demo Manager, ChiliPiper (Meeting Scheduling)
  • Security: Four vendors

Sales enablement vendor Highspot was demoed at Rainmaker. The native service assists with content searching for inclusion in cadence campaigns. The service also supports email tracking and analytics.

“Highspot Everywhere is designed to seamlessly tie sales enablement processes into tools your team uses every day–including SalesLoft,” blogged Highspot Senior Content Marketing Manager Kate Kirby. “Sales representatives can leverage the power of Highspot directly within SalesLoft by inserting content into email cadence campaigns, taking full advantage of the Highspot content engagement analytics and user tracking capabilities.”

Sendoso, a direct mail gifting program, was also announced at Rainmaker. The gifting platform supports new SalesLoft steps including rewards for attendance, thanking new customers, and garnering prospect attention.

TalkIQ joins several call coaching services on the platform which create and analyze call transcripts. “More than 70% of customer interactions occur over the phone,” notes SalesLoft in its app directory. “TalkIQ analyzes each of these conversations and surfaces insights about how customer-facing teams operate. TalkIQ’s best-in-class, proprietary AI, reveals hidden trends, recommends actions, and predicts call outcomes in real-time. Successful companies use TalkIQ daily to make smarter decisions, increase revenue, improve customer engagement, and build better products.”

Other Rainmaker announced partnerships include Dark Sky (weather data) and Bombora (intent).


Part II of this blog discusses new SalesLoft functionality and partnerships concerning LinkedIn, Calendaring, website tracking, and email connectors.