Sales technology platform Apollo.io says it has raised $100 million in new financing at a $1.6 billion valuation.
The technology company says it has received an investment led by Bain Capital Ventures, with participation from existing investors including Sequoia Capital, Tribe Capital and Nexus Venture Partners at a higher valuation than before. The company was valued last year at about $900 million after a $110 million funding round, it said.
Its platform organizes customer data with the goal of helping its users close more sales. Apollo.io says it is now using artificial intelligence to tailor email messaging. At a time when many companies have struggled to raise capital at higher valuations, Bain Capital Ventures partner Merritt Hummer said that Apollo.io’s track record was appealing to investors, even amid the tech downturn.
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