RightBound Adds $15.5M to its Series A, Bringing Total Funding to $27M
RightBound’s 400% ARR growth in 2021 Validates Company is Driving the Next Evolution of B2B Sales Development
RightBound, the technology company that created the first autonomous sales prospecting engine, announced today new funding for $15.5 million led by Innovation Endeavors, with additional participation from IBI Tech Fund. This extension to its previously announced Series A from Innovation Endeavors, IBI Tech Fund, and Operator Collective brings the company’s total funding to $27M. The company announced it has more than tripled its valuation over the last year. In 2020 the sales enablement platform market was valued at $1.7 billion, and today is projected to reach a value of $7.3 billion by 2028. Gartner sees two contributing factors to this growth as the move to virtual/hybrid selling as well as that 68% of organizations are evaluating their sales enablement technology and tools on an annual basis.
RightBound experienced exponential growth in 2021, ending the year increasing its ARR by 5x, and its customer base by nearly 6x, adding several dozen new B2B customers to its roster in 2021, ranging in size from early-stage high-growth startups to large enterprise organizations. RightBound is helping velocity-growth companies increase their average conversions from target accounts to qualified meetings. RightBound customers, on average, achieve a 25% increase in outbound sales results, 30% time savings, and 100% ROI within 3 months of implementation.
Since 2021, RightBound increased its employee headcount by 2.5x and appointed several new executives including Roni Green, Vice President of Marketing, Uri Tzikoni Vice President of Product, and Alon Ashkenazi, Vice President of Engineering.
“We are thrilled to double down on RightBound having witnessed the great success and growth the company has experienced since we invested earlier this year,” shares Harpinder “Harpi” Singh, Partner at Innovation Endeavors. “No doubt RightBound is changing the rules of the Sales Development game, eliminating the need for SDRs to manually search for prospects.”
Connected to dozens of data sources providing visibility into all relevant company and persona data, prospect behavior, and sales activity, RightBound constantly sources relevant prospects, segmenting and adding them to the sales funnel and CRM. Using AI and machine learning, RightBound customizes the communication track of each prospect, factoring in channel, content, timing, and frequency to set the path most likely to engage them.
“RightBound is experiencing ongoing, healthy growth across the board because our platform has proven it provides a unique value to Sales Development teams - no matter what size - in helping them save time, work more efficiently, and qualify more leads,” says Ran Oelgiesser, co-founder and CEO of RightBound. “As a leader in the Sales Tech sphere, our team at RightBound have also made it their mission to connect with SDRs worldwide, support the profession and provide a true morale boost. To this extent, we formed an SDR leader community (SDRally), we host virtual lunches for Sales and Sales Development leaders, and launched a free SDR swag store called sdrstuff featuring a wide range of fun, useful, and educational items designed for SDRs.”
RightBound boosts the performance of sales teams in multiple ways. The RightBound machine integrates with Salesforce, SalesLoft, Outreach.io, Hubspot, and other CRMs and Sales Engagement Platforms. Sales teams still work their prospects within existing platforms, but no longer need to do the heavy lifting and manual legwork - and instead can focus on connecting with personalized effort for fewer, warmer, engaged prospects. Over time, the RightBound algorithm learns and improves at continuously optimizing its targeting and outreach.
Founded by Ran Oelgiesser and Rotem Dafni, RightBound currently has more than 50 full-time employees. RightBound has a robust remote workforce with employees based across the United States and Israel.
About RightBound RightBound is the next evolution of outbound sales development. With the power of AI and machine learning, RightBound’s technology helps automate and optimize the sales development process, engaging in cold outreach, collecting data on prospects, eliminating time-consuming manual cadences, and freeing up the sales development team to do more of what people do best. RightBound customers, on average, achieve a 25% increase in outbound sales results, 30% time savings, and 100% ROI within 3 months of implementation.
To learn more visit RightBound.com