SAN FRANCISCO, CA, ToutApp has received a $3.35 million Series A financing to further develop its sales support platform.
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ToutApp, a sales acceleration solutions provider, today announced the completion of a $3.35 million Series A funding round led by Sigma West.
ToutApp's existing investors include Founder Collective, 500 Startups Launch Fund, and prominent angels including Esther Dyson, Eric Ries and Scott Banister. ToutApp will use the investment to further its product development and expand its sales and marketing teams to meet the strong demand for its sales acceleration platform, which enables sales teams to streamline and track sales email and presentations to close more business.
'TK is a focused, scrappy, and resourceful entrepreneur. The more I talked to customers the more excited I became about investing because customers were delighted and dependent on ToutApp,' said Sigma West Managing Director Greg Gretsch. 'ToutApp is changing the way salespeople use email to get the job done -- it actually helps close more deals rather than other CRM tools that simply manage and track leads.'
In 2013, ToutApp's revenues grew by more than 300 percent, with a whopping 26-fold increase in enterprise deals closed, in which management adopted ToutApp across the entire sales organization. ToutApp's self-service business also saw strong demand, growing by 162 percent.
By leveraging tracking, templates and real-time analytics, ToutApp helps sales reps process more leads, gain greater customer intelligence and close more business. The ToutApp platform also generates unique insights for sales and marketing management to understand which messaging drives results across the sales process.
This latest investment will allow ToutApp to drive continued product development, with a focus on delivering new features that streamline how teams sell effectively over email, phone and presentations in 2014.
'During the last two years we have focused on creating a fantastic product and platform vetted by our enterprise customers,' said ToutApp CEO and founder Tawheed 'TK' Kader. 'Now that we've built a solid growth engine and have sufficiently capitalized the business, we're excited to aggressively expand our sales and marketing efforts so that every sales team can benefit from ToutApp's sales acceleration platform.'