Salem Radio Network News Wednesday, May 25, 2022

Science

AI software startup 6sense valued at $5.2 billion after SoftBank joins funding round

(Reuters) – Artificial intelligence-driven software startup 6sense said on Thursday it was valued at $5.2 billion after a late-stage funding round that included SoftBank Vision Fund 2 and Tiger Global as new investors.

The San Francisco-based company, which helps enterprises grow their revenue and customer engagement by analyzing sales and marketing data, was last valued at $2.1 billion in March 2021 following a $125 million in Series D funding.

Investor interest in such software companies has been growing since last year due to the pandemic-driven shift to hybrid working and sustained demand for remote productivity services.

6sense said it raised $200 million in the latest funding round, led by new investors Blue Owl and MSD Partners with participation from Franklin Templeton, Insight Partners, D1 Capital Partners and Sapphire Ventures.

Founded in 2013, the startup counts major companies such as Cognizant, Dell Technologies, Qualtrics International and Baker Hughes Co as customers.

The new fundraise brings the total capital raised by 6sense in its lifetime to $426 million, the company said.

(Reporting by Manya Saini and Sohini Podder in Bengaluru; Editing by Ramakrishnan M.)

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