ProsperWorks Raises $24m In Series B Funding
SAN FRANCISCO, September 27, 2016
ProsperWorks Raises $24m In Series B Funding To Extend Its Lead As The #1 CRM For Google Apps. The only CRM recommended by Google Apps for Work receives new capital to fuel the development of its easy-to-use, cloud-based solution for fast-growing sales teams.
ProsperWorks, the only CRM solution officially recommended by Google Apps for Work, announced today it has raised $24 million in a Series B round of financing led by Next World Capital. Additional investors include Storm Ventures, True Ventures, Industry Ventures, Devoteam, and a consortium of strategic angels. ProsperWorks will use this new capital to accelerate product innovation and customer adoption.
ProsperWorks is a cloud-based CRM solution purpose-built for Google Apps for Work. Recently named Google for Work’s New Tech Partner of the Year, ProsperWorks offers a robust out-of-box experience through its web platform, mobile apps, and Chrome extension. Its native integration with the Google Apps suite allows it to streamline all interactions and exchanges that take place within Gmail, Calendar, Drive, Sheets, and more.
By focusing on delivering the best user experience for a very specific customer segment, ProsperWorks has grown its seven-figure revenue by 504% year over year (YOY) and attracted 63,000 businesses to date.
“Somewhere along the way, CRMs became really complex and hard to use,” said Jon Lee, co-founder and CEO of ProsperWorks. “Our goal has always been to build a CRM that teams actually love using. We’ve accomplished this by seamlessly integrating with Google Apps, eliminating painful data entry, and automating tedious tasks. This new funding allows us to continue to delight our users with intuitive features that make them love every interaction with their CRM so they can effortlessly sell more.”
ProsperWorks is uniquely positioned to capitalize on the growing community of more than five million businesses powered by Google Apps.
“Modern enterprise software is as easy to use as consumer apps. With incumbents still offering clunky products of decades past, the CRM market is ripe for disruption,” said Ben Fu, General Partner at Next World Capital. “There’s also a tremendous opportunity to grow alongside Google Apps, which is rapidly becoming the de facto choice for fast growing businesses.”
ProsperWorks will also be tapping Next World Capital, its lead investor, and Devoteam, the largest IT systems integrator in Europe, to expand internationally. Ben Fu will be joining ProsperWorks’ Board of Directors to assist with European expansion — the second largest market behind the U.S. by total IT spend.
Anshu Sharma, Venture Partner at Storm Ventures and former VP of Product Management at Salesforce, adds: “In all these years of working with CRM customers, it was always clear that the end user’s needs were underserved. Users want a CRM that fits into their email-centric life, simplifies the sales process and helps them close more deals. With ProsperWorks committing to being the best CRM inside Google Apps, we now have a tool that salespeople can fall in love with.”
This round of financing brings ProsperWorks‘ total funding to $34 million.