San Diego based software development company Seismic Software Inc. announced having raised $170 million from its recently concluded financing round which leaves the company with a market valuation of $3 billion.
The company is largely involved in making software that helps sales people engage more efficiently with buyers. The company has a client base of around 2,000 customers including high ranking companies like Cisco Systems Inc. (CSCO), International Business Machine Corp. (IBM) and American Express Co. (AXP).
The company will be using some of the proceeds from the funding round to facilitate the acquisition of online sale coaching platform Lessonly.
This latest financing round attracted several notable venture capital firms including Jackson Square Ventures and Lightspeed Venture Partners. Private equity firms like JMI Equity and Permira also participated in the financing round.
The company saw a large boom last year when there was a shift to remote working and learning due to movement restrictions and lockdowns imposed all over the world to combat spread of the deadly virus.
The company says it will set aside some amount from the financing round to use it for hiring new employees mostly engineers who will help with international expansion of the company.