Outreach

Outreach is a sales intelligence platform that offers a suite of tools to help sales reps improve communication with prospects and close deals. The platform integrates with existing customer relationship management (CRM) platforms and provides sales sequences, personalization tools, and multi-channel communication capabilities. The company is deeply integrated with third-party apps to attract large enterprise customers and claims to have a network of around 1,000 partners. As of June 2021, the platform served more than 4,800 companies, with the majority being mid-market tech companies in North America. It opened its London office in February 2020 to further establish a presence in the European market, which represents around 5% of its customer base.  As of June 2021, the company has more than 800 employees globally across Seattle, San Francisco, and new global offices in London and Prague. 

The platform offers insights on the most effective content channels and the optimal times to contact prospects using artificial intelligence (AI) and machine learning (ML) technology. Further, managers can track sales rep and team-wide performance paving the way for sales coaching using customer interactions. Outreach’s “Amplify AI suite”, launched in 2018, leverages ML to categorize buyer intent based on responses to email communication. In May 2020, the company announced the beta launch of “Outreach Kaia”, a voice-based AI sales assistant. In January 2023, Outreach introduced Smart Email Assist, an AI-powered automatic email response generator, to streamline workflows for sales teams. In March 2023, the firm introduced multiple new features to improve sales pipeline performance and efficiency, including the Create and Close Dashboard, Create Pipeline Calculator, Buyer Topics and Reactions, Success Plans Methodologies, Deal Grid, and Deal Overview.

The company also opted to bolster its product offering by acquiring revenue intelligence platform Canopy.io in October 2021. With this acquisition, Outreach strengthens its sales analytics and forecasting capabilities. Canopy.io will be the foundation of “Outreach Commit,” a new forecasting tool under Outreach’s suite of products.

Key customers and partnerships

In March 2023, the company expanded its partnership with Snowflake, a data platform, to introduce a new offering called “Outreach Data Sharing,” which enables organisations to connect Outreach's datasets with other enterprise data and improve sales cycle.

Funding and financials

In June 2021, the company raised USD 200 million in a Series G funding round, valuing the company at USD 4.4 billion, a significant jump from its USD 1.3 billion valuation in June 2020. The significant jump in valuation may be justified by the company's notable growth over the past 12 months. The funds will be allocated toward expanding into new markets, growing its sales and marketing teams, and platform development.

Additionally, in June 2021, the company stated that its annual recurring revenue doubled in Q1 2021 compared to the previous year. In 2020, the company reported a run-rate revenue of USD 100 million.