Chili Piper Secures $33 Million in Series B Funding

Chili Piper, a provider of a sophisticated SaaS appointment scheduling platform tailored for sales organizations, has successfully closed a $33 million Series B funding round. The investment was spearheaded by Tiger Global, with participation from existing investors Base10 Partners and Gradient Ventures, Google’s venture capital arm focused on artificial intelligence.

This latest funding brings the company’s total raised capital to $54 million. The newly acquired funds will be strategically allocated to expedite the pace of product development and innovation.

Competitive Landscape and Growth

Chili Piper’s previous Series A round, totaling $18 million, was led by Base10 and Gradient Ventures just nine months prior. The company operates in a competitive market, with Calendly being its primary competitor.

Calendly, established two and a half years earlier, recently attained a valuation of $3 billion.

Core Functionality and Client Base

Founded in 2016, Chili Piper’s software is specifically engineered for B2B revenue teams. Its primary function is to facilitate the conversion of leads into confirmed meetings.

Sales teams leverage the platform to schedule demonstrations, enhance inbound conversion rates, automate lead routing, and optimize meeting-related workflows. Notable clients include Intuit, Twilio, Forrester, Spotify, and Gong.

Unique Selling Proposition

Chili Piper offers a suite of tools for scheduling and calendar management. However, its key differentiator lies in its effectiveness when utilized by “inbound SDR Sales Development Representatives (SDR)”.

These representatives are responsible for qualifying leads generated through inbound channels. The platform is particularly valuable for scheduling calls in response to website visitors requesting a callback from a salesperson.

Founders' Perspectives

Nicolas Vandenberghe, CEO and co-founder of Chili Piper, stated: “Initially, we self-funded the company by liquidating personal assets and choosing to grow organically. We bootstrapped until 2019.”

He continued, “Tiger Global presented a valuation aligned with our year-end expectations, enabling us to accelerate our growth trajectory, an opportunity we couldn’t decline.”

Alina Vandenberghe, CPO and co-founder, expressed: “We are pleased with the number of customers who are leveraging Chili Piper’s Instant Booker to schedule meetings and optimize their calendars.”

Remote-First Culture and Investor Confidence

The company, founded by a husband-and-wife team, adopted a fully remote work model from its inception. Currently, Chili Piper employs 93 individuals across 81 cities and 21 countries.

John Curtius, partner at Tiger Global, commented: “Our meeting with Nicolas and Alina ignited our enthusiasm for their product vision and unwavering commitment to customer satisfaction.”

TJ Nahigian, managing partner at Base10 Partners, added: “Our initial investment in Chili Piper was based on the understanding that businesses required more effective methods for engaging with inbound leads.

He concluded, “We have been incredibly impressed by the company’s progress, particularly in 2020, a year that marked a significant turning point as businesses transitioned to remote operations.”