San Francisco-based Apollo.io raised $100 million in a Series D round at a $1.6 billion valuation, nearly double its previous, led by Bain Capital Ventures with participation from Sequoia Capital, Tribe Capital, and Nexus Venture Partners — making it one of the first sales tech unicorns minted in 2023. Existing investors Sequoia Capital, Tribe Capital, and Nexus Venture Partners also participated in the new round.
A sales intelligence and engagement platform reported a remarkable 9x revenue growth over the past two years. Collaborating with over 500,000 companies, this startup offers a range of sales and marketing workflow tools. Notably, they’ve introduced an AI-powered assistant to enhance email targeting for sales prospects.
“In line with our mission to make world-class go-to-market solutions simple and accessible to all, we have experienced unprecedented product-led growth during a time of economic uncertainty,” said Tim Zheng, Co-Founder and CEO at Apollo. “Our investors, led by Bain Capital Ventures, bring a new level of sophistication to the table that will accelerate Apollo.io’s journey from startup to scaleup. We look forward to expanding our offering for sales professionals to effectively target, engage, and convert buyers into long-lasting customers.”
Apollo.io is the trusted choice for global enterprise giants, ensuring swift connections with decision-makers to boost revenue. G2 ranks it as the leading Sales Intelligence and Engagement tool, aiding sellers in targeting eager prospects.
“Tim and the Apollo team have built a remarkable B2B platform that we believe will redefine the next generation of go-to-market sales,” said Merritt Hummer, Partner at Bain Capital Ventures. “Once companies experience Apollo’s buyer database coupled with powerful automation tools for lead generation and beyond, they’re hooked. We see the company providing the foundation for GTM teams everywhere in the future, driving direct sales at an unprecedented scale.”
Having more than doubled headcount in 2023, Apollo.io aims to expand to 1,000 team members by 2025 across various functions like engineering, marketing and sales, design, product, legal, and people operations — an increase of 122 percent. With a remote-first approach, the company employs 450 team members spanning 30 countries worldwide.