It’s raining Unicorns in India’s startup ecosystem. Mindtickle Inc., which provides an artificial intelligence-based tool to improve sales and product knowledge, has become the 20th Unicorn of the year by hitting a $1.2 billion valuation following a funding round led by SoftBank Group Corp.
The Pune and San Francisco-based startup raised about $100 million, in which existing investors Norwest Venture Partners and Qualcomm Ventures also participated. So far, the company has raised only $281 million.
As per a Bloomberg report, the startup, founded in 2011 by Krishna Depura, Deepak Diwakar, and Nishant Mungali, plans to use funds to grow its client base, inorganic growth, and product innovation.
“Revenue leaders understand that sales readiness is a mission-critical component of their strategy to meet or exceed their goals consistently. They are taking square ownership of these programs and partnering with their sales enablement, revenue operations, and training teams to create a continuous state of excellence across their organizations,” said Krishna Depura, CEO and Co-founder of Mindtickle.
The startup said sales enablement technologies could grow to $4.2 billion by 2027, and the conversation intelligence market will reach $13 billion by 2025.