Vivun Raises $18M Series A to Expand Pre-Sales Platform

Matt Darrow, co-founder and CEO of Vivun, previously led pre-sales operations at Zuora where he recognized the valuable customer insights held by pre-sales teams. He envisioned a way to transform these insights into actionable data accessible throughout the organization. This concept led to the launch of Vivun in 2018, and the company recently announced an $18 million Series A funding round.

Accel spearheaded the investment, with additional participation from existing investor Unusual Ventures. This latest funding brings Vivun’s total raised capital to $21 million, as reported by the company.

Darrow attributes the investor interest to the novelty of the product category and the significant market demand. “Companies of all sizes, from startups to large enterprises, are actively seeking a dedicated pre-sales solution like Vivun. This is a substantial and costly department that has historically lacked specialized software,” Darrow explained to TechCrunch.

Several key metrics highlight the company’s success during its initial year. Vivun experienced a six-fold increase in annual recurring revenue (ARR), though specific figures remain undisclosed, and its team size tripled from 10 to 30 employees, all while operating as an early-stage company during the pandemic.

While the business continued to expand this year, Darrow noted that smaller companies in their sales pipeline reduced spending due to the effects of COVID-19. However, larger organizations such as Okta, Autodesk, and Dell Secureworks stepped in, and the product proved particularly effective within larger enterprise structures.

“The value we deliver grows in direct proportion to company size. The more extensive the teams, the more pronounced the departmental silos, and the larger the organization, the greater the benefit of addressing the challenges faced by pre-sales teams,” he stated.

Having expanded from a team of 10 to 30 over the past year, Darrow aims to double the headcount to approximately 60 employees in the coming year, supported by the new investment. The founding team, comprised of two men and two women, is committed to cultivating a diverse and inclusive workforce as the company grows.

“This is a core principle for us, and we’ve been actively prioritizing it. We maintained a focus on diversity and inclusion even as we scaled from 10 to 30 employees, and we will continue to integrate it into the very fabric of our company culture,” he said.

Darrow emphasized that even prior to the pandemic, he and his co-founders strongly believed in flexible work arrangements. “We understood that prioritizing mental health and well-being meant moving away from the traditional nine-to-five, five-days-a-week office model,” he said.

Before the onset of COVID-19, the company already offered two designated quiet periods annually to allow employees to recharge. During the pandemic, Darrow has been implementing initiatives like providing Friday afternoons off for exercise and relaxation.

As the startup continues to grow, maintaining these types of benefits may become more challenging, but Darrow and his founding partners are dedicated to preserving this culture as they build the company.