Apollo.io Secures $32M to Revolutionize B2B Sales

Apollo.io Secures $32 Million in Series B Funding

Apollo.io, a developer of sales intelligence and engagement software tailored for business-to-business (B2B) organizations, has successfully raised $32 million in Series B funding.

This new capital will be utilized to further enhance the company’s go-to-market acceleration strategy.

Funding Details and Investors

Tribe Capital spearheaded the funding round, with participation from NewView Capital and existing investor Nexus Venture Partners.

According to co-founder and CEO Tim Zheng, this latest investment brings the total funding secured by the San Francisco-based company since its 2015 inception to $40 million.

Origins and Inspiration

Zheng’s entrepreneurial journey began with a prior venture in the education sector, focused on improving the targeting of marketing emails.

Demand from peers seeking a similar solution for their own industries ultimately inspired the creation of Apollo.io.

Key Features and Capabilities

The company’s subscription-based service has compiled a database exceeding 220 million business contacts.

This extensive database empowers customers to identify potential clients with greater accuracy, leveraging advanced algorithms and over 200 distinct business attributes.

The platform automatically displays relevant information when users visit LinkedIn profiles and provides updates on contact changes, such as job transitions or promotions.

Streamlining the Sales Process

“The conventional approach to sales involves identifying a customer pipeline,” Zheng explained. “Our platform streamlines and automates this process, particularly for outbound efforts.”

He emphasized that Apollo.io reduces setup time from months to mere minutes with just a few clicks.

Impact on Sales Performance

Apollo.io is reported to enable sales representatives to triple their meeting volume, increasing averages from 10 to 12 meetings to potentially 30 or more.

Currently, the company boasts over 1 million user signups and a customer base of 9,000 paying clients.

Growth and Future Plans

Over the past year, Apollo.io has experienced over 200% growth in its user base and a tripling of revenue, while also maintaining profitability for more than 18 months.

The new funding will be allocated to accelerate marketing initiatives, engineering advancements, and product development.

The company also plans to double its workforce to 300 employees within the next 12 months.

Board Addition and Investor Perspective

Sri Pangulur, partner at Tribe Capital, has joined Apollo.io’s board of directors as part of the investment.

Pangulur stated that Tribe Capital had been closely monitoring the company’s progress and decided to lead the round after experiencing the product’s benefits firsthand.