Coinspeaker
Apollo.io Raises $100M in Series D Funding Round Led by Bain Capital Ventures (BCV) at Valuation of $1.6B
Leading all-in-one sales intelligence platform Apollo.io has announced the closure of its Series D funding round with about $100 million secured. According to the announcement, the just concluded funding round was led by Bain Capital Ventures (BCV), with notable participation from existing investors Sequoia Capital, Tribe Capital, and Nexus Venture Partners. Having raised a total of about $250 million in its several funding rounds, Apollo.io is now valued at about $1.6 billion.
Moreover, the company has experienced exponential growth in its operations in the past two years with its revenue up nearly 10x. Worth noting that Apollo.io has about three million customers who leverage its advanced algorithms and unique data acquisition methods to widen quality conversations and opportunities.
“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,” Tim Zheng, Co-Founder and CEO at Apollo, noted.
The funds are expected to be used in expanding its sales professionals to effectively target, engage, and convert buyers into long-lasting customers. Moreover, the Apollo.io services have been used by thousands of enterprises since its inception in 2015.
“Tim and the Apollo team have built a remarkable B2B platform that we believe will redefine the next generation of go-to-market sales,” Merritt Hummer, Partner at Bain Capital Ventures, noted.
Apollo.io and the Market Outlook
Amid the globalization of digital technology through the artificial intelligence (AI) post-COVID-19 pandemic, Apollo.io has significantly widened its impressions across different markets.
Notably, the company’s buyer database coupled with powerful automation tools for lead generation and beyond have most companies glued to its services. As a result, the company has more than doubled its headcount in 2023, and plans to grow the number by about 112 percent to 1,000 team members by 2025 across engineering, marketing and sales, design, product, legal, and people operations.
With most of its business operations executed through online platforms, Apollo.io has most of its 450 team members working remotely and distributed across 30 different countries. The future growth prospects of Apollo.io are highly pegged to the ability to combine Generative AI with the B2B buyer database. Moreover, Apollo.io provides sales and marketing teams from different companies with easy access to verified contact data for over 270 million B2B contacts. Nonetheless, the company is competing with other startups in the same sales tech industry including FlashIntel and ZoomInfo.
Meanwhile, according to a report by Future Market Insights, the sales platforms software market could grow from $71.5 billion in 2022 to $193.1 billion in 2032, driven by the demand for digital sales tools.
