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September 29, 2020

Seismic hits $1.6bn valuation after $92m funding round

By Robert Scammell

Sales enablement company Seismic has raised $92m in a Series F funding round, putting the US company’s valuation at $92bn.

Seismic, which makes software solutions to help sales teams engage with prospective customers, has now raised a total of $270m.

Private equity firm Permira led the funding round, becoming Siesmic’s largest shareholder via a secondary investment.

Ameriprise Financial and EDBI invested for the first time, while existing investors participating in the round include Jackson Square Ventures, Lightspeed Venture Partners and T. Rowe Price.

Founded in 210, Seismic counts the likes of Cisco, IBM, American Express among its more than 600 customers.

The San Diego-based firm said its active users were up 148% year-on-year in the first half of 2020. It now has more than 900 employees spread across 14 offices around the world.

“When we led Seismic’s last round of financing, we became committed to Seismic’s vision and were especially struck by the deep enthusiasm of Seismic’s customers,” said John W Thompson, venture partner at Lightspeed, Seismic board member and chairman of the board of directors at Microsoft.

“Seismic is playing an instrumental role in helping organisations enable their marketing and sales teams to engage with customers with highly relevant content to accelerate sales cycles. The company has been quite successful helping enable many of the world’s largest brands with highly distributed, global teams.”

Ryan Lanpher, partner at Permira, said: “Seismic is a pioneer in the sales enablement category, and a critical application supporting customers’ shift toward more effective selling using personalized content throughout the buyer journey. Across the Permira portfolio, our companies have turned to Seismic to improve sales effectiveness and efficiency.”

Doug Winter, Seismic co-founder and CEO added: “Permira’s experience investing in leading enterprise software companies will help us accelerate Seismic platform innovations, international expansion, and M&A efforts. We are also thrilled to have Ameriprise Financial, a valued Seismic customer, expand their relationship with us as a strategic investor. In addition, I’m excited to welcome EDBI, a leading global investment firm in Asia, to the Seismic family as we continue to expand our footprint in the Asia-Pacific region.”


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