- San Francisco software startup Gong is now worth $2.2 billion following a $200 million Series D, the company said.
- Gong sells what it calls “revenue intelligence” software, which analyzes customer data to help sales teams close deals.
- The round was led by Coatue, the technology-focused hedge fund, which has continued to make big investments through the pandemic.
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Artificial intelligence software startup Gong is the latest Silicon Valley unicorn following a $200 million Series D, the company announced Wednesday.
Gong, which sells sells software that analyzes customer interactions for sales teams, is now valued at $2.2 billion following the funding round, which was led by the hedge fund Coatue, alongside Index Venture, Salesforce Venture and Thrive Capital.
The new funding comes just months after raising a $65 million Series C in December. That round, led by Sequoia Capital, valued Gong at just $750 million, according to PitchBook.
Gong was founded in 2015 by CEO Amit Bendov, (previously best known as the former CEO of another unicorn big data startup, SiSense) and chief product officer Eilon Reshef. Its specializes in what the company calls “revenue intelligence,” which automates data entry and data analysis with the goal of helping sales teams close more deals. It’s used by 1,100 customers including big names like Autodesk, LinkedIn, Slack and Twilio, according to the company.
Despite looming questions about how the coronavirus will impact the economy, Gong is far from the only startup to reach unicorn status during the pandemic.
Rippling, an onboarding software company led by the controversial Zenefits founder Parker Conrad, raised $145 million at a $1.35 billion valuation in a funding round led by Peter Thiel’s Founders Fund, with participation from Coatue.
Coatue also participated in a $225 million funding round for the robotic process automation startup UiPath, which was already a unicorn but grew its valuation from around $7 billion to $10.2 billion.
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