Outreach makes second acquisition, pounces on revenue information startup Canopy
Outreach said it will use the deal to introduce a new forecasting product called Outreach Commit. It is the second acquisition so far for Outreach, Who bought Sales Hacker in 2018.
Terms of the deal were not disclosed. Nine Canopy employees will join Outreach. The startup, which was founded in 2019, has raised $2.1 million.
Founded a decade ago, Outreach helps sales professionals close deals, track leads, and enhance customer interaction including Zoom, Adobe, DocuSign, and more. company lift $200 million in June at a valuation of $4.4 billion, more than triple its valuation a year earlier. It now employs more than 1,000 people worldwide. Total funding to date is $489 million.
Outreach said the acquisition of Canopy is part of its expansion beyond sales and intelligence sharing. The company recently expanded its product offerings, launching a real-time conversational intelligence tool called Kaia, AI reporting tools that analyze buyer sentiment called Insights, and a product that lets buyers and sellers collaborate together called Success Plans.
Outreach competes against SalesLoft, Groove, Gong and a host of other competitors.