InsideSales markets $50m series E

The Ireland Strategic Investment Fund has taken part in a series E round for InsideSales that also welcomed back Microsoft and put the company’s total funding at more than $250m.

The Ireland Strategic Investment Fund (ISIF), an $8.1bn vehicle managed by Irish government-owned National Treasury Management Agency, contributed to a $50m series E round yesterday for US-based sales platform InsideSales.

The round was co-led by VC firm Polaris Partners, with participation from software company Microsoft and venture capital firms QuestMark Partners, Kleiner Perkins Caufield & Byers (KPCB), Hummer Winblad, US Venture Partners (USVP), Epic Ventures and Zetta Ventures.

InsideSales has developed a sales engine called Neuralytics that relies on artificial intelligence to offer features such as predictive sales communications, engagement tracking, forecasting and motivation of sales staff.

Following ISIF’s investment, InsideSales will open its European headquarters in Ireland to launch its international expansion.

In collaboration with Microsoft, InsideSales will develop versions of its platform that integrate with the corporate’s cloud services Azure and operate on the Microsoft Dynamics 365 platform.

InsideSales has now raised in excess of $250m. Microsoft previously took part in a $60m series D round that also featured Salesforce Ventures, the corporate venturing arm of cloud computing firm Salesforce, Polaris Partners, KPCB, Hummer Winblad, USVP and Zetta.

Polaris had earlier led a $100m series C round in 2014, with participation from Salesforce Ventures, KPCB, Epic, Hummer Winblad, USVP, Zetta and Acadia Woods.

Eugene O'Callaghan, director of the Ireland Strategic Investment Fund, said: "We are pleased to welcome InsideSales into Ireland's flourishing technology community. This investment is well aligned with the ISIF's mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland.

“The key benefits to the Irish economy will be the targeted creation of more than 120 high quality jobs in the next three years, in addition to the collaboration between InsideSales and the Insight Centre fostering growth in this important specialist sector."

See more from this Government Report: Ireland

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