The newly rebranded Microsoft Ventures division is continuing its early investment run with funding for tech sales startup Outreach. The company announced yesterday that Microsoft Ventures was part of its Series B funding, which raised a total of $17.5 billion.
Speaking of the investment, Nagraj Kashyap, corporate vice president of Microsoft Ventures said Microsoft is excited about companies like Outreach that leverage the power of the cloud.
“At Microsoft Ventures, we are very excited about the next generation of cloud-based enterprise applications. Outreach certainly fits the bill, harnessing the power of the cloud to deliver an elegant, unique solution to satisfy enterprise sales team needs.”
Outreach is a data based sales platform that is used to aid sales teams in increasing opportunity conversions, which are 3x more likely according to the company. The startup has a user base of tens of thousands, with clients from major enterprises such as Zillow, Adroll, Adobe, and AppDynamics.
Some of the services offered by the company include email and Salesforce integration, phone dialing, account playbooks, engagement analytics, and sales automation. Managers can get actionable data and provision the exact set of features and workflows for each role to achieve more sales connections with customers.
“It has been incredibly rewarding to see how thousands of customers are utilizing Outreach to blow away their sales goals,” said Manuel Medina, CEO and co-founder of Outreach. “Now, with the backing of Trinity Ventures, Microsoft Ventures, and our existing investors, we can bring about a total sales transformation. This is an exciting time for Outreach as well as for sales teams, big and small.”
The existing Microsoft Ventures division was rebranded last month to be a dedicated section of Microsoft that will make investments. With the announcement, Redmond said Ventures would be focused on investing in and acquiring tech early-stage startups focused towards Microsoft's core products and services.
Ventures holds bases in Tel Aviv, Seattle, New York, and San Francisco. So far the division has already invested in mobile customer support business Helpshift, and AI oriented company CrowdFlower.