Apollo.io, a business-to-business (B2B) sales and intelligence and engagement platform, said it has raised $110 million as part of its Series C funding round led by Sequoia Capital.
Existing investors Tribe Capital, Nexus Venture Partners, and NewView Capital also invested in the round, said Apollo.io in a statement. With the latest funding, the company has raised over $150 million so far.
Apollo.io, which is operated by Zenleads, Inc, will use the fresh capital to ramp up its investment in product and engineering by around 300%, it added.
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.io's platform includes a B2B contact database with information on over 220 million buyers. It also seeks to help sales teams automate their workflows and outreach.
"Apollo.io simplifies the convoluted and manual processes of sales prospecting—ultimately, making smart, data-driven GTM simple and accessible to all,” said Sonya Huang, Partner at Sequoia.
Apollo.io's Series C funding comes just months after it raised $32 million in a Series B funding round led by Tribe Capital in November last year.
The company has increased its paid customer base by nearly 60% to over 15,000 paying customers since the Series B funding round, it said. It added that the company's annual recurring revenue (ARR) has grown nearly three times in the past 12 months.
Notably, Apollo.io is among the bunch of Nexus Venture Partners' bet on startups based in the US having some Indian presence. The homegrown venture capital firm's US bets have worked as a hedge against lack of exits from India portfolio. Its other such bets include Hasura, MinIO, and Blueshift Labs.
