Mandan invested again in 2014, this time as part of Lightspeed Venture Partners, in the company's $25 million Series C round led by Bessemer Venture Partners. Mandan joined Lightspeed in 2014 after spending five years at Battery Ventures where he was part of the original team which led the Series A investment in Gainsight in April 2013. This investment gives us an opportunity to support Gainsight's growth and continued industry leadership." Mandan, who led the new funding round, has now officially made three separate investments in Gainsight. "Within our internal customer success teams, we've seen how Gainsight's technology has given us additional visibility into the health and satisfaction of our own customers. It is the category defining company in the space, and we are thrilled to double down on our partnership with Nick and his team." "We're excited to become an investor in a company that shares our vision of helping organizations become more proactive about customer care," said Rowan Trollope, SVP/GM of Cisco's IoT and Applications Business. "Gainsight has led the charge in taking Customer Success from an emerging software category to a movement that is now taking every company by storm. Accordingly, Customer Success is at the heart of every conversation between a vendor and a customer," said Nakul Mandan, Investor at Lightspeed Venture Partners. "We are fortunate at Gainsight to expand our partnership with Lightspeed Venture Partners to help fuel our momentum, while together with our customers, we define strategy for a brand new profession in Customer Success." "Regardless of size, industry and geography, businesses do well when their customers feel happy and successful from the engagement. "The most progressive companies in the world view their customers as foundational to long-term success, just as much as their products and employees, and operationalizing their Customer Success discipline has become a cornerstone of the executive agendas at companies of all sizes and industries," said Nick Mehta, Chief Executive Officer at Gainsight and Co-Author of Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue. The company made these announcements today as over 4,000 members of the Customer Success community gather in Oakland, CA at Pulse 2017, the industry conference of record for Customer Success. These include enterprise technology (Gigamon, SecureWorks and VMware), SaaS (ABC Financial), and healthcare (MCG Health, naviHealth and Resmed Brightree). ![]() ![]() Gainsight also revealed it logged 167% year-over-year revenue growth in the last fiscal year, now boasts over 430 employees across seven global offices and has added new customers across industries. As part of the investment, Rowan Trollope, SVP & GM, Internet of Things (IoT) and Applications Division at Cisco will become an observer to Gainsight's board of directors. The company intends to use the funds to accelerate the expansion of Customer Success into new global markets, industries and channels. In addition to participation from existing investors Battery Ventures, Bain Capital Ventures, Bessemer Venture Partners, Salesforce Ventures and Insight Venture Partners, Cisco Investments also participated in the round. Gainsight™, the Customer Success company, announced today that it has closed a $52 million Series E round led by Lightspeed Venture Partners.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |