Mindtickle has reached a valuation of $1.2 billion after its recent SoftBank-led funding. The Series E funding round has helped Mindtickle to gather an amount of $100 million. SoftBank Vision Fund II is an existing investor of Mindtickle.
Mindtickle becomes the twentieth startup to turn into a unicorn startup this year. It is also the eighth Indian SaaS startup to turn into a unicorn this year.
Other existing investors including Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures also participated in this round. Mindtickle was valued at $500 million last November. The recent funding round has witnessed a sharp rise in its valuation.
Krishna Depura, co-founder and chief executive at Mindtickle said “Revenue leaders understand that sales readiness is a mission-critical component of their strategy to consistently meet or exceed their goals. They are taking more square ownership of these programmes, and partnering with their sales enablement, revenue operations, and training teams to create a continuous state of excellence across their organisations.”
The company which initially catered to mid-size and large tech enterprises, has now customers across fields like financial services, pharma medical services, and oil and gas. It also claims to have about 2000 companies using their service.
Sumer Juneja, partner at SoftBank Investment Advisers told Economic Times that, “We are encouraged by their increasing customer additions, contract expansions and new product launches and acceptance. We are delighted to be increasing our exposure to Mindtickle as they enter their next phase of growth.”