Highspot has joined the growing list of billion-dollar startups sprouting up in the Seattle area.
Seattle’s newest unicorn just raised a $200 million round that values the 9-year-old company at $2.3 billion — more than double from when Highspot raised its most recent round in 2019. Bloomberg first reported the news.
Highspot’s enterprise software aims to help make salespeople more efficient, equipping its users with technology to improve how they have conversations with prospective buyers. Its “sales enablement platform” is a sales playbook of sorts, analyzing hoards of internally-produced information — historical data; marketing presentations; case studies; data sheets; etc. — and then applying AI to optimize the selling process.
Highspot also provides communication and analytics tools to anyone who interfaces with a customer, including customer service reps fielding technical questions.
Highspot is led by CEO Robert Wahbe, a former longtime employee at Microsoft, where he spent 16 years equipping sales teams with necessary information to help craft perfect pitches to potential customers. He founded the company with former colleagues with Oliver Sharp and David Wortendyke.
Highspot employs more than 500 people across Seattle, London, and Munich.
Seattle is now home to 11 unicorn startups, or those valued at $1 billion or more. Nine of the 11 Seattle-area unicorns have achieved their lofty valuations in the past 18 months. The majority operate in enterprise software or cloud computing. And seven startups have at least one active co-founder with Microsoft ties.
Total funding to date for Highspot is more than $400 million. Tiger Global led the latest round. The New York firm has backed several recent rounds for fast-growing Seattle-area startups including Ally, Zenoti, and Flexe. Bain & Co. also invested, as well as previous backers Salesforce Ventures and Madrona Venture Group.