What are Funding Round sales triggers?
Sales triggers are specific events or actions that signal a potential customer is ready to buy and are becoming increasingly popular in the sales industry. These triggers are used to target potential customers at the right time, with the right message, increasing the chances of closing a sale. One of the most actively tracked sales event triggers is the funding round.
What is a funding round?
A funding round is a process by which a company raises capital from investors in exchange for equity in the company. It typically involves issuing shares of stock to investors, and the proceeds are used to fund the company's growth and operations.
When a company is going through a funding round, it can indicate a few things about the growth of the company. Firstly, it indicates that the company is in need of additional capital in order to grow or expand its operations. This could be to launch new products or services, enter new markets, or invest in research and development.
It can also indicate that a company has a solid business plan and a clear path to growth. A funding round typically involves a lot of due diligence and research on the part of the investors, who are looking for companies with a strong business model and a clear path to profitability. If a company is able to secure funding, it is a sign that investors believe in the company's potential for growth. While still a relatively young company, Pie Insurance secured a huge £315 million series D funding round in September 2022, stating their intention to use the funding for expanding into new lines of business, transitioning to a full-stack carrier, and for further innovation.
The amount of funding raised can also indicate the level of growth expected. A larger funding round might suggest that the company has big plans for growth, whereas a smaller round may indicate a more modest expansion. For example, Berlin-based Apheris secured a more humble €8.7 million seed funding round in November 2022; for now, its sights are only set on improving its existing product and adding fresh talent to its existing team.
A funding round can also provide insight into the quality of a company's management team, as well as its current financial position. When going through a funding round, the management team will be required to provide detailed financial information and projections to potential investors, which can give insight into the company's current state and where they expect to be in the future. This can be particularly useful information for a recruiter to pay attention to as the company will need to secure a strong management team to progress with their expansion plans.
Three funding rounds announced in January 2023
- Superscript secures £45 million in series B funding round – Superscript is a UK-based insurtech company that uses artificial intelligence to automate the process of creating insurance policies. The platform streamlines the underwriting process, making it faster and more efficient for customers. The company has stated its intention to use this funding to further develop its underwriting and broking capabilities and grow its range of dynamic insurance products and services for international distribution. Reach out to Superscript now to show how your product can assist the team on their international scaling journey with new products or additions to their machine learning team.
- Amsterdam-based Sprinque raises €6 million in seed funding – Sprinque, a B2B checkout platform based in Amsterdam, provides merchants and marketplaces with tools to streamline the checkout process, including features such as order management and invoicing. Sprinque has outlined plans to move into the European market, with its initial focus on Dutch, Spanish, and German retailers. A move into any new market can raise a host of opportunities; why not see if you can assist navigating the new regulations that come with a new geography, or perhaps help it to conquer new language barriers?
- ContractSafe raises $27.5 million in growth funding – ContractSafe is a Los Angeles-based provider of a cloud-based contract management platform that helps businesses easily organise, track, and manage their contracts and agreements. The platform offers features such as automated reminders, document storage, and e-signature capabilities. The company intends to use this funding to scale its team, as well as release additional products and features. A great opportunity for recruiters and sales professionals alike! Get in touch today to show them how you can solve its scaling needs.
Overall, a funding round is an important event in the life of a company, as it not only provides it with the necessary capital to grow but also serves as an indicator of a company's potential growth. It can tell you about the company's plans for the future, its current state, the quality of its management team and, to a certain extent, the level of confidence that investors have in the company's ability to achieve its goals.
At Selligence, we currently track 45 unique sales event triggers. Within these event triggers, we also recognise a further 71 sub-event types. That means we can deliver 116 sales trigger types to you, on a daily basis. If you’re interested in learning how you can build sales triggers into you daily routine, reach out now for a demo of the Selligence platform.