The round, led by Franklin Templeton, brings Gong’s total funding to $584 million, and comes on the heels of a $200 million funding round in August 2020. Existing Gong investors also participated in the round including Coatue, Salesforce Ventures, Sequoia, Thrive Capital, and Tiger Global, the company said.
Gong's technology allows sales teams to analyze sales conversations using artificial intelligence to find out what is going right – and wrong – in their sales calls.
The company recently told The Jerusalem Post that data from its clients showed that women are better at sales than men. An analysis of tens of thousands of sales calls made by its customers found that 86% of female sales executives met their sales quotas, compared with 78% of men.
“Just as we predicted in 2015 when Gong began leveraging AI to understand the needs of customers, we experienced massive growth in the past year, proving revenue intelligence is a game-changer for companies,” said CEO Amit Bendov. “As professionals across the globe were forced to connect with customers remotely for the first time, they became even more reliant on data and insights to win the hearts and minds of their customers. Gong was no longer a luxury, but a necessity, and it’s become clear that our product, which makes recommendations based on reality, has the potential to change the way we all do business.”