Apollo.io, a leading B2B platform, has successfully closed its Series D funding round, raising approximately $100 million. The funding round was led by Bain Capital Ventures (BCV) with participation from existing investors Sequoia Capital, Tribe Capital, and Nexus Venture Partners. With this latest round, Apollo.io has raised a total of $250 million and is now valued at $1.6 billion.
Over the past two years, Apollo.io has experienced significant growth, with its revenue increasing by nearly tenfold. The platform boasts over three million customers worldwide who benefit from its advanced algorithms and unique data acquisition methods, helping them create meaningful conversations and opportunities.
The funding will be utilized to expand Apollo.io’s team of sales professionals, allowing them to effectively target, engage, and convert buyers into long-term customers. Since its establishment in 2015, thousands of enterprises have relied on Apollo.io’s services.
“Tim and the Apollo team have built a remarkable B2B platform that we believe will redefine the next generation of go-to-market sales,” commented Merritt Hummer, Partner at Bain Capital Ventures.
Apollo.io and the Market Outlook
Apollo.io has managed to increase its presence in various markets, taking advantage of the globalization of digital technology and the rise of artificial intelligence (AI) in the post-COVID-19 era.
The company’s buyer database, combined with powerful automation tools for lead generation, has made Apollo.io a go-to platform for many businesses. As a result, its workforce has more than doubled in 2023, and the company plans to grow the number of team members by 112 percent to 1,000 by 2025 across different departments.
With most of its operations conducted online, Apollo.io has a distributed team of 450 members across 30 different countries, working remotely. The company’s future growth prospects lie in its ability to integrate Generative AI with its B2B buyer database. Additionally, Apollo.io provides sales and marketing teams with easy access to verified contact data for over 270 million B2B contacts. However, it faces competition from other startups in the sales tech industry, including FlashIntel and ZoomInfo.
A report by Future Market Insights suggests that the sales platforms software market could reach $193.1 billion by 2032, driven by the increasing demand for digital sales tools.
Frequently Asked Questions (FAQ)
What is Apollo.io?
Apollo.io is an all-in-one sales intelligence platform that offers advanced algorithms and data acquisition methods to help businesses have quality conversations and find valuable opportunities with potential customers.
Who led Apollo.io’s Series D funding round?
The Series D funding round for Apollo.io was led by Bain Capital Ventures (BCV), one of the notable participants in the round. Existing investors such as Sequoia Capital, Tribe Capital, and Nexus Venture Partners also participated.
How much funding did Apollo.io secure in its Series D round?
Apollo.io secured approximately $100 million in its Series D funding round.
What is the valuation of Apollo.io after the Series D funding round?
After the Series D funding round, Apollo.io achieved a valuation of about $1.6 billion.
How has Apollo.io grown in the past two years?
Apollo.io has experienced exponential growth in the past two years, with its revenue increasing by nearly tenfold.
B2B platform Apollo.io has raised $100 million in a Series D funding round led by Bain Capital Ventures (BCV) and with participation from Sequoia Capital, Tribe Capital, and Nexus Venture Partners. This brings the total amount raised by the company to $250 million, and its valuation is now $1.6 billion. With over three million customers, Apollo.io allows businesses to have quality conversations and find opportunities through its advanced algorithms and unique data acquisition methods. The funding will be used to expand the company’s sales team and target, engage, and convert buyers. Apollo.io’s future growth prospects lie in its integration of Generative AI with its buyer database.