Pune and Sunnyvale based MindTickle, a startup which addresses sales productivity, has raised Series A funding worth $12.5 million (Rs 82.6 crore) led by New Enterprise Associates (NEA), with participation from Qualcomm Ventures and existing investor Accel Partners, reports ET. The company will use the funding for software product development. MindTickle had previously raised $1.8 million worth seed funding from Accel Partners and Moneta ventures in October last year. Ravi Viswanathan, general partner at NEA will join the company’s board.
The company was started by Krishna Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali in 2011 and currently has 40 employees in Pune. It claims to cut training time for sales executives and offers coaching, role playing and feedback based on feedback to calculate sales efficiency. It claims to have customers in eBay, SAP, Yahoo, AppDynamics, Nutanix, Cloudera, Ola, CouchBase, Rocket Fuel, HCL, Vodafone and InMobi.
In February this year, the company released an update to its MindTickle for Sales training solution which combines gamification for streamlining sales and training processes. According to DestinationCRM report, with this data, managers can track progress through data reports and send relevant content, furthering the idea of reducing time spent on improving training manually. At that time, Garg said that the company had 70 customers, with plans to double them by July this year. It also has provides a readiness index from its analytics engine and an analysis of how its sales representatives are doing.
Recent developments in the space:
– In September, Qualcomm announced that it would invest $150 million in Indian IoT startups following Prime Minister Narendra Modi’s meeting with heads of Silicon Valley’s technology firms heads. The company did not, however, specify about which ones, how much and by when would it invest in these.
– In June, Arkin Net, a company which provides enterprise data centre solutions, raised $15 million in a Series B funding from existing investor Nexus Venture Partners and other strategic investors which included B.V. Jagadeesh.
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