LeanData Raises $27.5 Million in Series C Funding Following Record Growth
New funding strengthens company’s ability to fuel innovation, support customer success and accelerate growth within fast-emerging Revenue Operations market
LeanData, the leader in enterprise Revenue Ops, announced it has secured $27.5 million in financing led by new investor Tenaya Capital. Participating alongside Tenaya Capital is another new investor, Industry Ventures, as well as existing investors Shasta Ventures, Sapphire Ventures and Correlation Ventures. As part of the new financing, Tenaya Capital’s co-founder Brian Melton will join LeanData’s board of directors.
“Many of our portfolio companies use LeanData’s solutions to drive greater revenue through their go-to-market efforts, which is how the company first came to our attention,” said Brian Melton, co-founder and partner, Tenaya Capital. “LeanData solves a common pain point in high-growth organizations – namely bridging the inherent data divide between sales, marketing and customer success. We’re impressed by the tremendous market opportunity in front of LeanData, and how well-positioned the team is to execute on it. We are excited to play a role in LeanData’s bright future.”
The latest round of funding comes on the heels of a record-breaking year for LeanData. The company achieved 2X year-over-year revenue growth. It also signed 173 new customer logos, including a growing number of large enterprises such as Airbnb, Expedia, FICO, Nokia, Pitney Bowes, Siemens and Sutherland Global Services.
“Thanks to our incredible team, 2018 was a breakout year for LeanData,” said Evan Liang, CEO of LeanData. “We doubled revenue, signed a record 50 percent more new customers and delivered ground-breaking innovations to our customers. This latest round of investment helps us accelerate this trajectory and, most importantly, succeed in partnership with our customers in the fast-emerging new market category called Revenue Operations.”
SiriusDecisions describes Revenue Operations as a significant emerging paradigm bringing the operational work of sales, marketing and customer success together under one roof – and a potential game-changer that will fundamentally change how businesses align themselves internally to drive growth.
“We have been a big believer in LeanData since its inception, and have only become more impressed with the company’s execution, growth and vision in the years since,” said Ravi Mohan, managing director of Shasta Ventures, which led LeanData’s Series A funding round in 2014. “The loyal following LeanData has built with its customer base is truly amazing. The company solves a real problem today for B2B companies, but also now stands at the forefront of a game-changing new market category, called Revenue Operations – and has recently launched a new platform that enables customers to transform their go-to market operations. It’s an exciting time for the company, its customers and certainly its employees.”