Sales software startup ringDNA closed $30 million in growth equity on Thursday. The round — led by Goldman Sachs Growth Equity (GS Growth) — follows a quieter Series A announcement from the company back in March, which included recurring investors, Palisades Growth Capital and Bryant Stibel.
The news comes at a busy time for ringDNA. Since May, the company — which sells enterprise inside sales software and voice communications to companies like Amazon Web Services, SAP Concur and Lyft — has been rolling out a new tool that unlocks the black box that is conversation data.
“Conversation data is truly the holy grail of business intelligence insights. Within it is the ability to quickly and effectively unlock insights from every conversation between customers, prospects, sales, and support teams,” ringDNA CEO Howard Brown said in a press release.
Not sure what conversation data is? Here’s the idea: When analyzed in bulk, conversations between specially defined parties — say, prospects and sales teams, or users and support reps — yield certain identifiable patterns. That information, once spotted, can then be broken down into coachable moments, which are instantaneously fed back to the person making the call.
“With conversation data at the core of our product, it becomes the single place where managers and reps can communicate, share insights, and dramatically improve performance. Reps can proactively ask for coaching, while simultaneously receiving automated best practices,” a rep from the company told Built In.
And investors seem bullish. Of their continuing investment in ringDNA, investment firm Bryant Stibel’s Kobe Bryant (yep, that one) and Jeff Stibel wrote: “When we led the initial investment for ringDNA in 2014, we did so because of a great entrepreneur, strong team and a large and untapped market opportunity. With this latest growth equity round from Goldman Sachs, ringDNA has added another world-class partner aligned with its goal of helping enterprise sales organizations analyze and learn from their game film to become smarter and more effective.”
Announcing $30 million in new funding? Well, that conversation is about as easy as they come.
