With 9x annual recurring revenue growth since 2021, Apollo.io becomes the first sales technology unicorn minted in 2023 and one of the fastest growing companies in SaaS
SAN FRANCISCO, Aug. 29, 2023 /PRNewswire/ — Apollo.io, the leading go-to-market (GTM) solution for sales and marketing teams, announced today that it has raised $100M in Series D funding led by Bain Capital Ventures (BCV), with participation from existing investors Sequoia Capital, Tribe Capital, and Nexus Venture Partners. Following the company’s Series C in March 2022, this investment brings the company’s total funding to approximately $250 million while nearly doubling the valuation of the company at $1.6 billion.
The company has grown revenue 9x over the last two years and currently serves over three million GTM professionals at over 500,000 companies from startups to global enterprises including Qualtrics, Customer.io, and Census. This cash injection will allow it to more than double employee count to continue building the next generation of GTM.
Sales today is more challenging than ever before. The traditional go-to-market tech stack includes disparate tools that are complex to set up, difficult to integrate, cost-prohibitive to most businesses, and most importantly, offer no intelligent end-to-end GTM guidance. According to Salesforce’s 2022 State of Sales Report, sales teams use an average of 10 tools to close deals and reps say they’re only spending 28 percent of their week actually selling, with the majority of their time consumed by other tasks like deal management and data entry.
By building sales intelligence, engagement, and execution workflows on top of Apollo’s proprietary B2B buyer database, Apollo enables sales and marketing teams to operationalize their go-to-market strategy, generate pipeline, win deals, and improve team performance with AI-driven GTM guidance — all in one streamlined platform.
“In line with our mission to make world-class go-to-market solutions simple and accessible to all, we have experienced unprecedented product-led growth during a time of economic uncertainty,” said Tim Zheng, Co-Founder and CEO at Apollo. “Our investors, led by Bain Capital Ventures, bring a new level of sophistication to the table that will accelerate Apollo.io’s journey from startup to scaleup. We look forward to expanding our offering for sales professionals to effectively target, engage, and convert buyers into long-lasting customers.”
Some of the world’s largest and most influential enterprise organizations trust Apollo.io to connect and convert quickly and efficiently with key decision-makers to unlock more revenue. Apollo.io is now the No. 1 ranked Sales Intelligence and Sales Engagement solution on G2, empowering sellers to find and prioritize prospects who are actively looking to buy.
“Tim and the Apollo team have built a remarkable B2B platform that we believe will redefine the next generation of go-to-market sales,” said Merritt Hummer, Partner at Bain Capital Ventures. “Once companies experience Apollo’s buyer database coupled with powerful automation tools for lead generation and beyond, they’re hooked. We see the company providing the foundation for GTM teams everywhere in the future, driving direct sales at an unprecedented scale.”
Apollo.io’s success and position in the market has led to an influx of world-class tech talent, recently adding Leandra Fishman as Chief Revenue Officer from Intercom and SendGrid/Twilio, Dzmitry Markovich as SVP of Engineering from Dapper Labs and Dropbox, and Shek Viswanathan as a Chief Product Officer from Qualtrics. Having more than doubled headcount in 2023, Apollo.io plans to grow to 1,000 team members by 2025 across engineering, marketing and sales, design, product, legal, and people operations — an increase of 122 percent. The company is remote-first, employing 450 team members who are fully distributed across 30 countries globally. Apply to join the Apollo.io team today.
“Apollo.io has built the ideal unified GTM platform — from data to engagement to deal execution to forecasting — and is in a fabulous position to combine Generative AI with their B2B buyer database to optimize and ultimately re-invent sales software.” Sonya Huang, Partner at Sequoia Capital”It has been a privilege for us to be part of Apollo.io’s journey since inception and see them disrupt the sales-tech space. Apollo.io is democratizing access to intelligent go-to-market software globally. It’s becoming one of the most ubiquitously used platforms across categories. Apollo.io’s intuitive self-serve product along with user-friendly pricing has helped expand its reach beyond sales professionals and tech businesses. We love the Apollo.io team’s obsession with delighting users and maximizing consumer surplus. The new round will help the company further invest in R&D and make its product even more powerful.” – Abhishek Sharma, Managing Director at Nexus Venture Partners
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About Apollo.io
Apollo.io is the leading go-to-market solution for revenue teams, trusted by over 500,000 companies and millions of users globally, from rapidly growing startups to some of the world’s largest enterprises. Apollo.io provides sales and marketing teams with easy access to verified contact data for over 270 million B2B contacts, along with tools to engage and convert these contacts in one unified platform. By helping revenue professionals find the most accurate contact information and automating the outreach process, Apollo.io turns prospects into customers.
About Bain Capital Ventures
Bain Capital Ventures (BCV) is a multi-stage VC firm investing across four core domains—fintech, application software, infrastructure, and commerce-tech. Leveraging the unique resources of Bain Capital, we deploy targeted support at every stage of the company-building journey. For over 20 years, BCV has helped launch and commercialize more than 400 companies including Attentive, Bloomreach, Docker, DocuSign, Flywire, LinkedIn, Mirakl, and Redis. You can follow us on Twitter @BainCapVC.
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SOURCE Apollo.io