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Groove Raises $45M Series B Funding to Accelerate Enterprise Momentum

We are thrilled to share that we have raised a $45 million Series B round of funding, led by Viking Global Investors, that we plan to use to accelerate our momentum in the enterprise segment of the market. Our existing investors Capital One Ventures, Level Equity, Quest Venture Partners, and Uncork Capital also participated in the round.

This announcement comes on the heels of a tremendous growth period for Groove, having grown enterprise ARR by 114% in the past twelve months. This is in large part because of the global shift to digital selling. As enterprises look to manage large and distributed revenue teams, they are seeking sales engagement platforms that integrate the productivity benefits of workflow automation with the insights gleaned through revenue operations software.

Digital selling has also exposed a key weakness in most companies’ Salesforce deployments – lack of adoption. In fact, an August 2021 Forrester Consulting “State of CRM” study, commissioned by Salesforce, found that 57% of respondents struggled to maintain good customer experiences because their CRM systems were not well-integrated or accessible.

Groove solves this accessibility problem by meeting sellers where they already work, increasing rep productivity while ensuring over 90% Salesforce adoption.

“This notion of the sales engagement platform as a cockpit for sellers is likely to continue to drive further integrations between other sales tech categories and these platforms as the advantages of bringing everything to the seller where they sell (the original vision for CRM technology) become more widely recognized,” said Anthony McPartlin, Principal Analyst for Forrester Research in a recent blog post.

Groove is the only sales engagement platform that integrates seamlessly into existing seller workflows, driving up usage and Salesforce adoption as a result. Groove’s industry-leading seller adoption rates enable enterprises to leverage complete and comprehensive data to run a more accurate, predicative, and effective GTM process.

“Our enterprise customers want to enable the modern seller while ensuring the highest levels of enterprise security and compliance.” – Chris Rothstein, co-founder and CEO of Groove.

“We’re capturing a significant amount of enterprise market share from our competition, because our platform was built for the needs of large, complex organizations that rely on Salesforce as their system of record,” continued Chris. “We bring automation to the seller instead of requiring that they work out of a separate system. This flexibility ensures extremely high user adoption rates, even with technology averse sellers in non-tech industries.”

Over the last year, Groove has expanded its revenue intelligence capabilities with auto-contact capture, real-time opportunity and pipeline management and enhanced ROI reporting. Through this expanded capability set, Groove enables revenue leaders to make real-time, data-driven business decisions based on sales engagement outcomes across a wide variety of roles, teams, and divisions.

“Our sales operations have been transformed because of Groove,” said Matthew Mullin, Senior Director of Global Marketing Operations and Technology at Tenable. “Our sellers are armed with productivity tools and workflow automation that makes them more effective at their jobs, and we can now rely on accurate, real-time data in Salesforce to make informed decisions.”

Groove won the TrustRadius “Best Of” Awards in 2021 for best usability, feature set, and best customer service in the sales engagement category, and has been the highest-rated sales engagement platform on G2 for three years in a row.

G2 Fall 2021 Grid Report for Sales Engagement

G2 Sales Engagement Software Report

Learn why Groove is leading the pack, and how the top providers are ranked across several criteria, including user satisfaction and G2’s proprietary Relationship Index/Momentum Grid®.

Download Report

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