Seismic Secures $40 Million Series C Funding Led by General Atlantic to Grow Leadership Position in Sales Enablement Market
Gary Reiner, former CIO at GE, to join Seismic’s Board of Directors
May 25, 2016
Seismic, a leading enterprise software company, and General Atlantic, a leading global growth equity firm, announced today that General Atlantic has led a $40 million strategic growth investment in the company through a Series C round of funding. General Atlantic joins JMI Equity and Jackson Square Ventures as a minority shareholder. Gary Reiner, former Chief Information Officer at GE and Operating Partner at General Atlantic, will join Seismic’s board of directors.
Seismic is a leader in enterprise sales enablement and content management software. Its platform allows enterprises to align sales and marketing teams to effectively reach clients. With Seismic’s award-winning technology, marketing teams can keep their collateral up-to-date by seamlessly updating content such as data points, logos, or case studies from various sources. As a result, by using the Seismic platform, marketing teams are able to create, organize, and manage collateral with confidence knowing that all content is accurate and compliant so that high performing sales teams have what they need, when they need it. In addition, Seismic provides analytics on content performance, enabling marketing and sales teams to implement effective collateral at optimal points in the sales process. Seismic enables sales and marketing teams to produce collateral, efficiently create personalized content for specific audiences, and spend more time in client meetings and other revenue-generating activities.
Seismic currently serves 175 enterprise customers across the globe spanning the financial services, life sciences, healthcare, technology, manufacturing, and insurance industries. More than half of its customers have annual revenues exceeding $1 billion and many are Fortune 500 companies.
“Seismic’s innovative enterprise technology platform offers customized content creation and analytics capabilities for the marketing and sales teams of our global clients. Our platform eliminates the 30 hours per month the average sales representative spends searching for and creating marketing collateral,” said Doug Winter, Chief Executive Officer of Seismic.
He continued, “Based on our own customer growth in a wide variety of enterprises, we have discovered that there are many industries that can benefit from a world-class sales enablement solution to improve marketing effectiveness and sales efficiency. General Atlantic’s expertise partnering with high growth companies will be key as we maintain our market leading position and aim to develop new products and solutions for our clients while also uncovering new markets and growth opportunities.”
Mr. Reiner, who will join Seismic’s board of directors, brings experience as former Chief Information Officer at GE. He has been an Operating Partner at General Atlantic since 2010 and also sits on the boards of several companies, including Citigroup and Hewlett Packard Enterprise.
“There is a significant opportunity in this market for Seismic to expand its strong customer value proposition to new verticals,” said Reiner. “We look forward to working with Doug and his management team as Seismic scales into its next phase of its growth.”
In its next phase of growth, Seismic will broaden its award-winning platform capabilities, thus further securing its position as a market leader in the growing sales enablement space. Seismic will also invest in expanding its sales and marketing teams, allowing the company to increase its presence in current markets while also developing new key verticals.
“Seismic has seen considerable success in product, customer, and revenue growth over the past year, with solid plans to build on that track record in the future,” said Peter Arrowsmith, General Partner of JMI Equity. “We are pleased to continue to support Seismic, in partnership with General Atlantic and Jackson Square Ventures, as it furthers its leadership position in the sales enablement market space.”
The funding follows Seismic’s most successful quarter, in which the company saw a year-over-year increase of more than 300 percent in new revenue booking and 125 percent in new customer growth, among other notable successes.
Seismic’s leading end-to-end sales enablement solution for enterprises increases sales efficiency and marketing effectiveness by delivering the right content at the right time. Seismic is the only sales enablement platform anchored by the award-winning LiveDoc® technology, which automates the creation of personalized sales materials within seconds, achieving personalization at scale and dramatically improving time spent selling and win rates. Seismic customers are customizing more than a million pieces of sales collateral per year, and real-time analytics provide unprecedented insight for marketing teams looking to gauge which content helps closes deals. Headquartered in San Diego and with 150 employees across the globe, Seismic is privately held by its executive team and investment firms General Atlantic, JMI Equity, and Jackson Square Ventures. For more information about Seismic’s end-to-end sales enablement solution, please visit www.seismic.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 120 businesses in its target markets and has raised more than $3 billion of committed capital. Combining domain expertise and active partnership, JMI works with management teams to build market-leading businesses and create long-term shareholder value. Realized investments from JMI funds include Autotask, Axeda, BigMachines, Eloqua, Ellucian, Gemcom, PowerPlan and ServiceNow. For more information on JMI, visit www.jmi.com.