Co-founder of Seismic Nasser Barghouti raised $92 million in the latest funding round for his company.
Founded in 2010, Seismic focuses on sales enablement: using tech to make the sales process easier and more effective. To date, they have already earned over $270 million to improve the technology running behind the scenes in marketing and advertisement.
Nasser Barghouti draws outside funding over $270 million
As a sales enablement platform, Seismic provides a wide variety of services designed to optimize marketing and performance. In layman’s terms, the software organizes, automates, distributes, and works on providing accurate analytics to its customers. In ten years, Seismic has become a household, or officewide, name in many world-class companies. They have worked with big names such as IBM, Cisco, and American Express.
Seismic is valued at $1.6 billion, and recently raised an additional $92 million. This increased their funds raised to about $270 million total.
According to VentureBeat, the funding is for international growth, mergers and acquisitions, and product research and development. Seismic harnesses the power of AI to automate part of the sales process. Despite the pandemic, Seismic claim that they’ve seen “a 148% increase in active users over the prior year period and a net retention rate of nearly 120%.”
Activism inspired by Nasser Barghouti’s grandmother
Originally from Palestine, Barghouti grew up in Egypt. Next, he moved on to earn his Bachelors, Masters, and PhD in Computer Science from Columbia University. After this, he chose to stay in the states and relocated to San Diego in 2001.
Barghouti has been a human rights activist for many years. He notes being inspired by stories of his Palestinian grandmother. In his article “Remembering the Palestinian Nakba,” co-written with Bassemah Darwish, Barghouti writes about his grandmother’s visit to Palestine as a refugee.
Parallel to his years-long activism, Baghouti has also worked with AT&T, founded and headed Objectiva Software Solutions, and co-founded Seismic Software.
Seismic plans to expand even further globally on the wave of recent success
Seismic has been an industry leader for many years. In addition to a number of rankings and awards, they earned the title of 2019 and 2020 Forbes Cloud 100 company. And for good reason. According to a Forrester Total Economic Impact Study, sales teams realized 85% productivity gains “in time spent on finding and developing materials for customer touchpoints,” an additional 15% in revenue, and a 30% increase in marketing productivity with Seismic.
The massive investment from their latest funding round will go towards multiple goals to maintain Seismic’s growth momentum. Currently, Seismic has more than 900 employees in 14 offices across the world, and has plans for more. Soon, they plan to include expansion into the Asia-Pacific region, as Seismic recently partnered with EDBI, “a leading global investment firm in Asia.”
Other plans include accelerating product innovation, enhancing the platform through “strategic, targeted acquisitions,” and expanding partnerships. The rapid growth that Seismic has been experiencing will be brought even further with more integration across platforms and across the globe in the close future.
Learn more about Seismic here.
