– BELGIUM, Ghent / USA, CA – Showpad has closed an $8.5M Series B investment deal led by Dawn Capital, with previous investor Hummingbird Ventures also participating in this round. The company expects to exceed $10M in annual recurring revenue in 2015 and is looking to hire 25 additional employees in San Francisco and Ghent over the next months.
The Ghent (Belgium) based SaaS company with offices in San Francisco will use the additional financial resources to grow sales and marketing aggressively and keep developing and innovating their service. Founded 3 years ago, the company reports annual recurring revenues of $4.5M, has 50 employees and over 500 paying customers, with 50,000 sales professionals on the platform. Last year Showpad raised $2M and successfully built up a presence in the US. Recently they welcomed Intel as one of their lighthouse customers in the US, alongside companies like Siemens, BASF and Wyndham.
Showpad is a mobile sales acceleration platform that increases the productivity of sales, whilst providing marketing-relevant data on sales interactions. Showpad turns every device – tablet, smartphone and PC – into a powerful sales and presentation tool. The service makes it possible to provide sales reps, partners and customers with the right information in any format and gives insights and analytics on how a customer responds to the information shared.
“Sales are tired of the traditional approach to selling. Many companies are looking for technology to shorten sales cycles, close more business and accelerate their sales. Showpad makes sure sales find the right content, tell the right story and optimize the conversation. The demand for our solution is huge, so the timing of this round is just perfect to strengthen that momentum”, explains Pieterjan Bouten, co-founder and CEO. “Hummingbird and Dawn are two investors who can help us build a world-class company, so we are very excited to have them on board.”
Teddie Wardi from Dawn Capital will join the Showpad Board of Directors. “Showpad’s sales acceleration platform has enabled significant productivity gains for a vast array of customers. The growth Showpad has achieved and the team they have assembled has truly impressed us. At Dawn, we have a particular interest in mobile-first SaaS and are excited to be part of a category-defining company in the space”, Teddie enthuses. “We are looking forward to partnering with the team to continue its rapid growth in both Europe and the US.”
About Showpad
Showpad is a mobile sales acceleration platform making sales more productive and marketing more effective.The Ghent based, mobile first SaaS Company with offices in San Francisco was founded in 2011 and previously raised $2M from Hummingbird Ventures in 2013. It is one of the fastest growing technology companies in Europe. They have more than 500 customers in over 40 countries, including Intel, BASF and Audi.
About Dawn Capital
Dawn Capital is a London-based, early-stage venture capital firm led by experienced entrepreneurs and investors who have collectively backed over 100 companies. The Dawn team has co-founded several successful technology companies and profitably managed significant portfolios through several booms and downturns. The team has been involved in several high-profile rapid-growth technology businesses such as Advertising.com, Wonga.com, Mimecast, iZettle and Self Trade.Dawn Capital is currently investing its second $120m fund with a strong focus on enterprise software-as-a-service and financial technology.
About Hummingbird Ventures
Hummingbird Ventures is a venture capital fund that focuses on fast-growing companies in the technology and internet sectors. The fund has branches in Ghent, London and Istanbul.
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