News: MindTickle raises $12.5 million funds from NEA, Accel Partners

Training & Development

MindTickle raises $12.5 million funds from NEA, Accel Partners

MindTickle, online training software company, has raised $12.5 million in a round led by New Enterprise Associates and existing investor Accel Partners.
MindTickle raises $12.5 million funds from NEA, Accel Partners

Bengaluru: MindTickle, whose software helps sales representatives stay on top of their game, has raised $12.5 million (Rs 82.6 crore) in a round led by New Enterprise Associates and existing investor Accel Partners, to further develop its sales-readiness software. The software, developed by its 40-member team in Pune, helps address sales personnel at all levels: from new recruits to existing employees by using data science and gamification.

"MindTickle is being viewed as a strategic investment and source of competitive advantage for our customers" said Krishna Depura, CEO of MindTickle. 

The company, one of the few to have made successful inroads into the enterprise market in United States, counts AppDynamics, Nutanix, Cloudera and 65 others as its customers. "The sales productivity market is witnessing a very interesting segmentation," said Ravi Viswanathan, general partner at NEA, which has invested in company. MindTickle was started by Mohit Garg, Krishna Depura, Deepak Diwakar, and Nishant Mungali in August 2011. The company has a global sales presence with headquarters in San Francisco, Bay Area, and operations team in India and claims that their products have been deployed by 100+ companies with over 1,50,000 users. Some of their clients such as Olacabs, Nutanix, Cloudera, AppDynamics, and Qualtrics use their platform to improve the performance of their customer-facing staff.

The company, one of the few to have made successful inroads into the enterprise market in United States, counts AppDynamics, Nutanix, Cloudera and 65 others as its customers. "The sales productivity market is witnessing a very interesting segmentation," said Ravi Viswanathan, general partner at NEA, which has invested in companies such as Snapchat, MongoDB and others. "We were impressed with the number and quality of customers that MindTickle has signed up in less than a year," said Viswanathan, who will be joining the board of MindTickle. 

MindTickle plans to use the new investment round to build upon its early successes in combining gamification, mobile delivery and data science to improve the engagement and performance of direct and channel sales teams. This includes continued development of its workflows for onboarding, coaching and ongoing enablement of customer facing teams. In conjunction, the company is scaling out its API framework that customers and partners can leverage to derive more meaningful insights across the entire sales organisation.

 

 

 

 

 

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Topics: Training & Development, Learning & Development, #Corporate

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