M12 (formerly Microsoft Ventures) Global Head Nagraj Kahsyap. M12 (already an existing investor in Outreach) participated in this $114 million Series E funding for Outreach. image: Microsoft

Seattle based sales engagement startup Outreach has raised $114 million in Series E funding that values it at $1.1 billion and boosts the amount raised by the company till date to $239 million. Lone Pine Capital led the round, with participation from Meritech Capital Partners, Lemonade Capital, and existing investors Spark Capital,Trinity Ventures, Sapphire Ventures, Mayfield, M12 (formerly Microsoft Ventures), Four Rivers Group, and DFJ Growth.

Outreach says the new funding will support its growth, with plans to double its machine learning team, expand its foreign footprint, and grow its partner ecosystem in coming months. The company currently employs some 315 persons and plans to boost that number to 450 by year end. Outreach says it currently supports more than 3,300 customer accounts and 50,000 sales professionals worldwide.

(From left-right) Outreach co-founders Manny Medina, Wes Hather, Andrew Kinzer, and Gordon Hempton image: Outreach

According to Pitchbook, Outreach was last valued at $515 million, implying a slightly more than 100% jump in valuation with this round. Outreach notably has quite a history with Microsoft (an investor in the company), having recently announced an integration with Microsoft Dynamics 365. April last year, the company poached former Microsoft executive Pavel Dmitriev to lead its data science team. It has also hired executives from the likes of Livongo, Centrify, and T-Mobile.

Outreach joins other companies including Affirm, Klook, Lemonade, Sila Nano, Toast, Casper, Airwallex, Rent the Runway, Doctolib, and Cloudflare that have raised huge funding recently.

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