UPDATED 08:00 EDT / OCTOBER 10 2019

AI

AI sales software firm Clari raises $60M in late-stage funding round

Artificial intelligence-powered sales software company Clari Inc. said today it has raised $60 million in a new round of funding led by Sapphire Ventures.

New investor Madrona Venture Group and existing investors Sequoia Capital, Bain Capital Ventures and Tenaya Capital also participated in the Series D round, which brings Clari’s total funding to $135 million.

The company has a “Connected Revenue Operations” platform that’s designed to make sales processes easier to understand with the use of artificial intelligence and machine learning tools. The tools are useful for multiple people within an organization. For example, sales representatives can use them know where to focus their efforts, managers can spot risk in a sales pipeline, and executives can forecast sales with more confidence.

Earlier this year the company announced a major update to its platform, adding data from more sources, including customer relationship management, marketing automation, email, content management, telephony and conversations. Clari then uses that data to create “AI insights” that it says can help customers drive sales pipelines, improve conversions and forecasts, and reduce churn.

Clari might not be a household name, but its software has proven to be popular with big companies such as Adobe Inc. and Lenovo Group Ltd. being some of its most enthusiastic customers. “Chief revenue officers across our portfolio companies swear by Clari, as they use it every day to manage their business,” Jai Das, president and managing director of Sapphire Ventures, said in a statement.

The company said today’s funding would be used to expand its revenue operations partner ecosystem, and fund research into new AI and machine learning capabilities.

Diana Cappello, a solutions engineer at Clari, last year appeared on theCUBE, SiliconANGLE’s mobile livestreaming studio, where she explained how the company takes time to understand its customers’ needs to deliver better outcomes.

“The No. 1 thing that we do when we meet a customer is listen to the problems that they’re experiencing, and then listen to the goals that they have, the objectives that they want, the outcomes,” Capello said. “And then we think about, how can we meet their need with the technology?”

Image: Clari

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