CHICAGO – June 4, 2014 – SAVO Group, the market leader in sales productivity solutions, has closed a $35 million venture funding round. Led by Goldman Sachs & Co, with the support of existing investors, Sterling Partners and SAP Ventures, this latest investment brings SAVO’s total funding to-date to $84 million. This investment will be used to expand SAVO’s global operations and further develop its comprehensive suite of sales and marketing applications. With this round of funding also comes the appointment of two new board members: Michael McGinn and Holger Staude from Goldman Sachs’ Private Capital Investing group.
“Our solutions, which seamlessly integrate with various CRM systems, are enabling customers to break through traditional sales productivity barriers by delivering the most effective content and selling practices to individual salespeople, in real time via both traditional channels and mobile devices. By providing reps with solutions tailored to address daily productivity challenges, companies are able to drive more effective and predictable sales cycles, and generate greater adoption of other investments related to sales training, new product introduction and consistent message delivery,” said Mark O’Connell, president and CEO of SAVO. “Goldman Sachs has a proven track record of funding growing market leaders and we’re excited to work with them.”
During the past five months, SAVO has maintained the strong momentum realized at the close of 2013. The company has continued aggressive growth in new customer signings, announced its acquisition of digital postcard technology company StoryQuest, Inc., and launched a number of new solutions – including Sales Onboarding Pro, Sales Process Pro, SAVO Inspire, CRM Opportunity Pro for Microsoft Dynamics CRM and a Professional Selling Bundle designed to ensure functionality and compliance during sales meetings. In addition, SAVO has been recognized with the following awards:
• Best in Biz Awards, North America – Silver; Enterprise Product of the Year – Software
• Deloitte Technology Fast 500™ – Fastest growing companies in North America
• Killer Content Awards – Interactive Content
• Mobile Star Enterprise Awards – Shining Star; Enterprise Mobile Collaboration & Presentation, Enterprise Mobile Field Sales & CRM, Enterprise Mobile Marketing and Success Story: Mobile Marketing
• Stevie Sales & Customer Service Awards – Silver; New Product & Service
“SAVO has consistently demonstrated excellent year-over-year growth and is executing ambitious plans to continue to serve the sales enablement industry,” said Michael McGinn, managing director for Goldman Sachs Private Capital Investing. “The company’s solutions enable sales reps to be more efficient, effective and engaging, resulting in improved productivity, increased sales cycle predictability and most important of all, more closed deals. We look forward to seeing them execute their vision on a global scale.”
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