Business engagement software startup Apollo.io on Friday said it has raised $110 million as part of its Series C funding round led by Sequoia Capital. The round also saw the participation from existing investors including Tribe Capital, Nexus Venture Partners, and NewView Capital. With the latest round, the company has raised over $150 million so far.
The funding comes on the heels of a period of strong growth for Apollo.io. Its annual recurring revenue (ARR) has nearly tripled in the past 12 months, the company said in a statement. The company will use the proceeds to step up investment in product and engineering by almost 300% to to continue to build the best platform in its category. Since announcing its Series B round of funding three months ago, Apollo.io expanded its paid customer base by nearly 60% to over 15,000 paying customers.
Tim Zheng, Co-founder and CEO, Apollo.io, said in the statement that the funding will also be used for hiring and marketing and sales purposes.
Founded in 2015, Apollo is a leading data intelligence and sales engagement platform trusted by 10,000 paying customers, from rapidly growing startups to some of the largest global enterprises. Its community-based approach to crowdsourcing data gives users maximum coverage while ensuring data accuracy.