Gong.io, a startup providing an “intelligence platform” for enterprise sales teams, today nabbed $200 million in funding at a $2.2 billion valuation, up from a $750 million valuation in December 2019 when the company raised $65 million. Gong CEO and cofounder Amit Bendov says the new capital will be put toward fulfilling demand for Gong’s products and reinforcing the firm’s leadership as it invests in product, engineering, and go-to-market teams.
A whopping 46% of business-to-business (B2B) sales reps list lead quantity and quality as their top challenge. That’s unsurprising given that only 44% of companies use lead scoring systems (according to a 2013 report by Decision Tree and Lattice) and only 5% of salespeople say leads they receive from marketing are “very high quality.” Suboptimal and delayed leads can have catastrophic effects — Harvard Business Review found that there’s a 10 times drop in lead qualification when reps wait longer than 5 minutes to respond and a 400% decrease when they respond within 10 minutes versus 5 minutes. [ Venture Beat ]