One of the market leaders in sales and marketing enablement, Seismic, announced that it closed a new fundraising round. The company closed its Series E funding round, raising $100 million at a valuation of $1 billion.
The round was led by Lightspeed Venture Partners and funds and accounts advised by T. Rowe Price Associates, Inc. There was also participation from existing investors such as General Atlantic, JMI Equity, and Jackson Square Ventures also participated in the round. This round brings the total amount raised by Seismic to date to $179 million.
“Sales enablement has quickly grown into a cornerstone practice in sales and marketing across a wide array of industries and businesses sizes. With the addition of John and new investor partners Lightspeed and T. Rowe Price, we look forward to further leading the way in making it a foundational business practice across the globe,” said Doug Winter, Co-Founder and CEO of Seismic. “John’s amazing career leading some of the world’s most well-known and respected technology companies will be invaluable as we continue our march towards becoming the next world-class enterprise software firm.”
As part of the deal, John W. Thompson, Venture Partner at Lightspeed and Chairman at Microsoft, will join Seismic’s Board of Directors. Thompson brings over 40 years of executive leadership experience at companies such as IBM, Virtual Instruments and Symantec. He also sits on the boards of cloud data management company Rubrik and gene sequencing company Illumina.
John W. Thompson commented, “To continue to drive sales in today’s age of the informed buyer, sellers need to have the full resources of their organization behind them. Few technology providers if any enable that kind of support better and more effectively than Seismic. Considering the incredible market opportunity still available to Seismic and the very strong leadership team they have put in place to take advantage of it, I am incredibly excited to help play some small part in their future success.”
“Seismic has demonstrated that it has the requisite devotion to product innovation and their customers to become a much larger company,” said Henry Ellenbogen, Portfolio Manager for the T. Rowe Price New Horizons Fund. “We are looking forward to working with the Seismic leadership team in the next phase of the company’s growth.”