This blog post is pure excitement. We are proud to announce our current funding round, which brings our total investment to $90 million. The latest $60M investment is led by Alpha Wave Ventures, leaders in building large, impactful companies, and familiar global brands like Alibaba Group, SpaceX, and Lyft, to name a few. The funding showcases the faith, trust, and potential that investors see in DealHub’s innovation.
Timing is Everything
During the past two years, as sales teams faced the challenges of remote work in an exceedingly competitive market, the need for speed became clearer than ever. Organizations now understand the urgency to invest in sales tech to drive sales productivity and performance, and reduce sales friction, as they move quickly from creating quotes to closing deals.
In the past year alone, we’ve doubled ARR, reaching stellar customer growth and have doubled our customer base across 195 countries. We’ve also doubled our user base, gaining new satisfied customers daily. All that business means we had to grow our team, as well. And we did. Our global team multiplied by five, across six locations. These all add up to four consecutive years of growth at 250%. And now, with this funding, we will continue to boost an already phenomenal momentum.
The need for a robust CPQ isn’t new. In the ‘80s, only briefly after dinosaurs roamed the Earth, organizations used configurators to manage the sales process. Those (should be) extinct creatures ensured customer specifications didn’t conflict with the organization’s resource and capacity planning, but weren’t integrated with CRM systems. Despite inefficiencies and loss of data, configurators thrived to become main elements in interactive sales.
By the early 2000s, small-medium sized sales organizations needed help with more than just configuration. They needed a quote-to-cash solution. The sales process has become cumbersome and disjointed, so much so, that it was decelerating revenue rather than accelerating it. Configuration, pricing, quotes, contract management, billing, and payments, were like cars of a trackless train: going in the right direction, but on a very bumpy ride, and losing precious cargo- revenue and data- on the way.
Then came the long awaited consolidated solution: CPQ systems which connected all parts of the sales process and put the train on the right track. They did so with heavy complex code that was hard to implement and maintain. The CPQ train was running more smoothly, but took a long time to reach its destination. How do nine months of implementation sound? Too long.
The DealHub Disruption
After decades of slow progress, sales teams were ready for the dawn of a new age: a new breed of CPQ that maximizes revenue, while ensuring compliance, and proactively addressing dynamic buyer behaviors. Compared with legacy systems, DealHub’s No-Code CPQ has all of the advantages and none of the weaknesses. Our next generation hybrid commerce engine delivers the depth and robustness of a custom-coded CPQ solution, with the agility of a business-oriented no-code configured environment, making setup and ongoing changes a breeze.
DealHub.io empowers sales teams to offer a seamless, collaborative, automated buyer experience. It combines many key aspects of the sales process in a single place to deliver One Fluid Sales Motion.
The Future of CPQ
Today’s hyper competitive sales ecosystem craves innovation. Performance challenges posed by legacy CPQ software require intelligent tech solutions in order to leap forward. Now, more than ever, selling is far more than a transaction. It’s a relationship. DealHub’s mission is to redefine CPQ, and transform business outcomes.
Behind this CPQ innovation is a group of extremely talented DealHub people. Thank you, Team DealHub, for your exceptional minds, hard work, and dedication. From building the product to supporting our users; you are the ones who keep us moving forward, fast and steady.
90 million dollars is no small change. It’s a big one. We intend to use its full potential for accelerated growth, scaling our tech and operations, and building our global presence. This is a major milestone, but it’s only the beginning. Fasten your seatbelts and get ready for takeoff.