Yesware announced Wednesday it has raised $13.5 million in Series B, led by Battery Ventures. Existing investors Google Ventures, Foundry Group, IDG Ventures and Golden Venture Partners also participated in the round, topping off the three-year old sales productivity platform's total financing at $18.5 million.
In addition to its funding announcement, Yesware also debuts its Gmail extension on Salesforce.com's AppExchange, which enables users to automatically sync emails, calendar events, tasks and contacts between Salesforce and Google Apps.
The $13.5 million will go toward supporting and accelerating the company's growth. Yesware's sales technology currently supports more than 300,000 users, making it easy for salespeople to keep track of the efficacy of their emails and manage leads from their inbox. The company's monthly revenue jumped 1300 percent within the last year. Further, the number of customers using Yesware's Salesforce.com Sync features increased 700 percent since January 2013, demonstrating a growing value in third-party platforms that integrate between two clouds.
Battery Ventures was willing to make a big bet on those numbers to stake a claim in this burgeoning cloud services sector.
"Enterprises invest significant resources hiring the best salespeople in the world, but then give them tools equivalent to an abacus to get their jobs done. Yesware's sales-effectiveness technology is a major upgrade for salespeople, helping them get their jobs done better and putting more commission dollars in their pockets," said Neeraj Agrawal, the Battery Ventures general partner who is joining Yesware's board, in the release. "At Battery, we saw similar innovation in the field of marketing automation and invested in successful companies like Marketo and ExactTarget as a result—we believe sales-effectiveness will experience the same disruptive adoption curve."
The Series B and new feature come just a few weeks after HubSpot CTO and Co-founder Dharmesh Shah introduced Signals, a new marketing tool with akin to Yesware's product; while in a sense pitting the two companies' services against one another, the Signals/Yesware similarity further goes to show that Yesware is on to something. This announcement further demonstrates that Yesware is still on-track for even more growth.
