Sales engagement platform provider SalesLoft Inc. said today it has raised $100 million in a late-stage funding round that brings its total amount raised to $245 million and values it at more than $1.1 billion.

Owl Rock Capital led the Series E round, which included participation from Insight Partners, HarbourVest, and Emergence Capital.

SalesLoft is focused on a specific area of the sales pipeline it calls “sales engagement.” The company’s software essentially provides a framework for salespeople to use that teaches them how and when to contact potential customers and what message to send.

The software can be thought of as a kind of contact workflow for salespeople. It provides a blueprint while applying a measurable structure to keep track of the sales process. The software works by providing suggested next best actions, which could be writing an email, making a phone call or even sending a handwritten note.

Whether or not the sale is successful, there’s an audit trail of all the interactions and what the software recommended for actions, as well as which actions the salesperson actually took. Machine learning also plays a role in SalesLoft’s workflows, since the system learns which kinds of interactions work best with which customer, helping improve its recommendations over time.

“SalesLoft provides a system of execution that sits at the heart of the way top sellers engage with their customers,” SalesLoft co-founder and Chief Executive Officer Kyle Porter told SiliconANGLE following a $70 million funding round last April. “It’s designed for sales organizations to integrate automation with sincerity in communication and follow up with their prospects in a systematic manner.”

SalesLoft said it has benefited from historic growth in the sales engagement market due to a massive worldwide increase in digital sales that’s resulted from the COVID-19 pandemic. Since last April’s funding round, the company has more than doubled its recurring revenue.

It has also established itself as the leader in Forrester Inc.’s third-quarter 2020 sales engagement ranking. The company has attracted big-name customers such as Google LLC, LinkedIn Corp., Dell Technologies Inc. and Cisco Systems Inc. too.

SalesLoft said it plans to use its new funds to invest in new vertical markets, step up its machine learning-driven product innovation and accelerate its international expansion.

Image: SalesLoft