Showpad, the Belgium-based sales enablement tech company that has a large Chicago presence, just raised a new round of funding as it looks to add jobs to its seven offices across the globe.
The company announced Tuesday that it raised $70 million in debt and equity in a Series D round of funding. The round was led by Dawn Capital and Insight Partners, with participation from existing investors Hummingbird Ventures and Korelya Capital. Silicon Valley Bank provided the debt financing.
Showpad said it has now raised more than $180 million to date.
Showpad’s Chicago presence began in 2017 when it opened a North American headquarters in the Windy City. But that presence grew when it acquired LearnCore, a Chicago startup that made sales training software, last year for $50 million. Showpad last year also acquired U.K.-based Voicefox, a company that made software to record and capture key takeaways from business meetings.
In December, Showpad moved into a new 20,000-square-foot office at 1 N. State St. to accommodate its growing staff. Showpad now employs more than 400 people globally and 150 in Chicago. In addition to its headquarters in Belgium and offices in Chicago, Showpad has employees in London, Munich, Poland, San Francisco and Portland.
With the new financing, Showpad said it will develop new products and add more than 200 new jobs across its global workforce, 35 of which will be in Chicago.
Showpad’s software helps companies in a swath of industries, including manufacturing, healthcare, technology and financial services, increase the size of their sales deals by improving buyer engagement.
Showpad says it has more than 1,200 customers worldwide, including Johnson & Johnson, GE Healthcare and Honeywell, and is seeing 90 percent year-over-year growth.
“The growth we’ve experienced in the past year is proof that sales enablement solutions are now a must-have for B2B businesses,” said Showpad CEO Pieterjan Bouten in a statement. “The continued support of our investors is validation of our vision for the sales enablement market and our ability to deliver innovation that maximizes sales productivity and optimizes marketing impact.”
