Scale Venture Partners and Next World Capital have led a $15 million Series B funding in Aviso, which makes software for sales management, operations and forecasting. Other participants in the funding include Shasta Ventures, First Round Capital, Bloomberg Beta and Cowboy Ventures, as well as existing angel investors. Stacey Bishop from Scale Venture Partners and Craig Hanson from Next World will join Aviso’s board. The funding brings Aviso’s total capital raised to $23 million.
Aviso (www.aviso.com), the predictive insights software company for sales management, operations and forecasting, today announced a $15 million round of Series B funding co-led by Scale Venture Partners and Next World Capital, with participation from all existing angels and investors, including Shasta Ventures, First Round Capital, Bloomberg Beta and Cowboy Ventures. Additionally, Stacey Bishop from Scale Venture Partners and Craig Hanson from Next World Capital will be joining Aviso’s board.
This latest round brings total investment in the company to $23 million and will be used to grow its sales, marketing and customer success teams to empower sales organizations to meet and exceed their quarterly revenue targets. Aviso today also announced it achieved the SOC-2, Type II certification, the highest standard of security for safeguarding customers’ sensitive data.
Since launching in September 2014, Aviso Insights has become a key platform for leading enterprise sales organizations including Splunk, Nutanix, Lucidworks, RingCentral, Saba, and many others to accurately predict and execute on their revenue targets.
Sales teams across the globe rely on the weekly sales forecast call for effective sales management, coaching, prioritization and sales strategy, but it continues to languish in primitive tools. Aviso automates this process and modernizes it with predictive insights based on advanced machine learning and portfolio management frameworks. Sales teams use Aviso to forecast across their geographies and business units, get insights into prioritizing and allocating resources to meet their target, and flag early warning signals so they can make appropriate course corrections.
“Sales leaders are inundated with information, including reports and dashboards that claim to automate decision making, but actually provide very little insight into what to do,” said K. V. Rao, Founder and CEO, Aviso. “Sales organizations need an effective decision-support system that empowers them to make the best possible decision, given all the available information. We enable business leaders to trust their judgment and experience while taking into account the risks and tradeoffs, enabling them to make decisions with confidence to consistently hit or exceed their revenue goals.”
What Aviso Customers and Analysts are Saying
“Aviso enables our sales leaders to do what they do best, which is sell and make their numbers, instead of getting mired in spreadsheets,” said Anna Gilstrap, vice president of worldwide sales operations, Splunk. “There is nothing in the market quite like Aviso Insights, and it provides long overdue relief to any global sales team.”
“Most sales analytics solutions deluge sales execs in a sea of information when what they really need is knowledge,” said Denis Pombriant, managing principal at Beagle Research Group. “Aviso’s unique machine learning system filters out the extraneous information to deliver knowledge that they can use to make informed decisions. This is decision support as it was always meant to be.”
What Aviso Investors are Saying
“Often a VP of Sales will panic near the end of a quarter when suddenly 20 percent of their qualified pipeline disappears as sales people discreetly roll the deal close dates to the next quarter,” said Stacey Bishop, partner, Scale Venture Partners. “Aviso helps eliminate that panic by giving customers the tools to accurately predict and forecast the quarter. Aviso is transforming the sales landscape, as seen by early adoption from some notable public companies, and promises further transformation as it enters its next phase of growth.”
“We’ve known K. V. and Shasta Ventures through the growth of Zuora into a SaaS leader on a global scale and are excited this brings us together again,” said Craig Hanson, General Partner at Next World Capital. “Aviso’s innovative product is serving a tremendous market opportunity to bring the power of data analytics and collaborative cloud software into an intuitive, robust platform for sales management, operations, and forecasting so sales leaders can nail their sales goals with confidence. Aviso has assembled a top-tier team to go after this next big opportunity in SaaS.”
Aviso provides the leading predictive insights software designed to help sales teams optimize their performance and exceed their revenue goals. Aviso transforms and automates tedious sales forecasting processes with an easy-to-use, secure cloud application using a unique combination of machine learning algorithms and portfolio management techniques. Aviso Insights delivers a powerful data-driven decision-making framework to prioritize deals, deploy resources, and mitigate risks, driving revenue growth for small and large enterprises. Funded by leading venture capital firms Scale Ventures, Next World Capital, Shasta Ventures, First Round Capital, Cowboy Ventures, and Bloomberg Beta, Aviso’s customers include Splunk, HubSpot, RingCentral, Saba, and Replicon. For more information, visit www.aviso.com and follow us @AvisoInc.
About Next World Capital
Next World Capital (NWC) is an international expansion-stage venture capital firm investing in leading enterprise technology companies in the software, internet and mobile sectors. The firm takes a focused, thematic approach with deep expertise in enterprise technology and specialized skills to help companies ramp during the expansion stage. NWC is the only U.S. VC managing a comprehensive strategy, sales and business development platform to help its companies expand in Europe. NWC is headquartered in San Francisco, with additional offices in London and Paris. Our team prides itself on helping our portfolio companies address the challenges and opportunities inherent in building a world-class company. www.nextworldcap.com
About Scale Venture Partners
Scale Venture Partners (ScaleVP) invests in emerging-growth technology companies with a focus on SaaS, Cloud, Mobile and Internet sectors. With a proven track record and market specific expertise, ScaleVP is a strategic partner in helping entrepreneurs and management teams scale their business and grow into long-term companies that matter. Founded in 2000, the firm has $900 million under management and is currently investing Scale Venture Partners III. Representative investments include: Box, BrightRoll, DocuSign, Everyday Health, ExactTarget (ET), HubSpot, NComputing, Omniture, RingCentral and Vitrue. ScaleVP is located in Foster City, California. For more information, visit www.scalevp.com or follow us on Twitter at @scalevp or LinkedIn at www.linkedin.com/company/scale-venture-partners.
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