LOS ANGELES, July 13, 2021 (GLOBE NEWSWIRE) -- Endgame, the first solution designed from the ground up to power product-led sales, today announced it has closed a $12.25M Series A round led by Menlo Ventures. Today’s round comes hot on the heels of a $5M Series Seed round led by Upfront Ventures.
In conjunction with the funding, Kara Nortman, Partner, Upfront Ventures, and Naomi Ionita, Partner, Menlo Ventures join Endgame’s board of directors, and Sandhya Hedge, Partner, Unusual Ventures who participated in both rounds, joins as a board observer -- creating an all-women investor board.
“Traditional software sales is dying. The modern sales motion looks at what users are doing in a free plan or trial and then applies sales pressure to the highest value accounts that are most likely to convert,” said Kyle Parrish, Head of Sales, Figma, a design partner of Endgame.
Product-led growth, where individual users adopt the product in free or trial versions, has attracted unprecedented amounts of attention, investment, and success. Traditional go-to-market motions have an abundance of tooling with the CRM market expected to reach $114 billion by 20271. Despite the value captured with product-led motions, a dedicated software platform hasn’t existed. Until today.
Endgame is disrupting the market by helping product-led sales teams take immediate action on prospective and current accounts to generate more revenue. Its platform analyzes real-time signals from a number of data sources, including product adoption, user behavior, transactional data, sales activity, and more—without needing expensive data scientists or engineers. With Endgame, sales teams can see what top accounts and users are doing in their product, how far along their journey they’ve come, and whether or not they are sales ready.
“The modern GTM motion is inverted. Instead of looking at what we [the sellers] do, you have to look at what they [the customers] do. That means understanding what users and buyers are doing in your product and using that information to identify the best sales opportunities,” said Alex Bilmes, CEO, Endgame. “The response we’ve received from investors and design partners has been terrific so far, but we’re just getting started.”
"Most product-led growth companies have nothing in place, or spend precious engineering cycles maintaining a patchwork solution for linking product usage with sales opportunities," said Naomi Ionita, Partner, Menlo Ventures. "With its purpose-built solution, Endgame saves engineering time and empowers sales to drive more revenue, faster. The business case is a no-brainer."
“It’s a crazy time in the world of bottom-up SaaS and every company I talk to is trying to figure this out,” said Kara Nortman, Partner, Upfront Ventures. “Endgame provides the tooling to make product-led motions a reality."
Endgame is already working with high-quality design partners such as Figma, Loom, Airtable, Clubhouse, Mode, Retool, and Algolia.
Endgame will use the capital to increase headcount, invest in R&D, and further define the product-led sales landscape.
Also participating in the round are prominent investors including Todd and Rahul’s Fund, Liquid 2 Ventures, Nick Mehta, CEO, Gainsight, Des Traynor, Founder, Intercom, Joe Morrissey, CRO, Segment, Zhenya Loginov, CRO, Miro, Olivia Nottebohm, CRO, Notion, Boris Jabes, CEO, Census, Yvonne Wassenaar, CEO, Puppet, Jason Warner, CTO, GitHub, Lenny Rachitsky, Guillaume Cabane, Elena Verna, Peter Kazanjy, Kenny Van Zant, as well as founders and senior executives from Zoom, Airtable, Loom, MongoDB, and others.
For more information on Endgame, please visit: https://www.endgame.io.
About Endgame
Endgame is the world's first solution for product-led sales, designed to transform how modern software companies go-to-market. Endgame makes it easy to observe what’s happening in a trial or free motion, prioritize sales-ready accounts and users based on behavioral signals, and act on them to drive more revenue faster. It works by analyzing real-time signals from a number of data sources, including product adoption, user behavior, transactional data, sales activity and more—without needing expensive data scientists or engineers. Learn more at endgame.io
About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That’s why we support businesses including Carta, Chime, Harness, Poshmark, Pillpack, Roku, Rover, Uber and Warby Parker that are reimagining life and work for the better. Over 44 years, we’ve grown a portfolio that includes more than 70 public companies, over 150 mergers and acquisitions, and currently have $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we’re in, we’re ALL IN.
About Upfront Ventures
Upfront Ventures is proud to be an early investor and long-term partner to the most exciting founders and startups. Founded in 1996 in Los Angeles with investing professionals based in LA, San Francisco, and Paris, Upfront has backed standout teams across all technology sectors, including Ring (acq. by Amazon), TrueCar (NASDAQ: TRUE), Bird, Maker Studios (acq by Disney), GOAT, Apeel Sciences, thredUP, Invoca and Kyriba (acq by Bridgepoint). We invest about half of our capital in the fast-growing Southern California ecosystem, with the balance across the country as well as investments in Europe and Israel. Learn what we’re about at upfront.com.
Contact:
Public Relations
Riley Burns
562-505-6771
riley@nectarpr.com
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