December 12, 2016
Today, Tact, a Redwood City, CA based company, announced the successful close of a $15 million series B round led by Upfront Ventures. The round also had participation from Microsoft Ventures, and existing investors Kevin Efrusy of Accel Partners and Satish Dharmaraj of Redpoint Ventures.
Tact, a sales experience platform, is designed to support enterprise sales teams through their mobile devices. More specifically, the platform uses AI as a smart assistant of sorts, automating numerous admin tasks and improving the sales process. It also integrates with all the common tools sales teams use such as email, phone, calendar, maps, CRMs, and more.
As part of the new round of funding, Upfront Ventures’ Mark Suster is to join Tact’s board of directors, and will use the new funding to accelerate their growth and product development.
“I worked with Chuck at Salesforce.com, and he’s one of the most knowledgeable enterprise product leaders I know. Beyond my respect for Chuck, what really persuaded me to write such a large check were my customer reference calls. Sales Ops leaders using Tact have seen weekly CRM usage rates go from 25% to north of 75% – it was a wow moment and a true testament to what the team is building,” said Mark Suster, managing partner at Upfront Ventures.
In the past year the team at Tact has been quite busy. They’ve brought on several Fortune 500 customers like GE, brought on a new CRO, opened a third office, and received two new patents.
“The tremendous growth we’ve had this year puts the company in a position to pioneer a new, smarter way for sales teams to work,” said Chuck Ganapathi, founder and CEO of Tact. “What’s appealing to us is the shared vision we have with Mark and Microsoft Ventures to use conversational platforms to change the human experience with enterprise software.”
This new funding round should prove beneficial for its size and implications in the sector. After all, $15 million is not a round to scuff at.
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