Seismic Raises $40M to Expand Web-based Software for Big Customers

Seismic is making some waves today.

The suburban San Diego software company, which specializes in “sales enablement” and content management software for big companies and organizations, says it has raised $40 million in a Series C funding round led by General Atlantic. JMI Equity, an existing investor, also participated in the round.

Gary Reiner, a General Atlantic operating partner and former CIO at General Electric, will be joining Seismic’s board, according to a statement today.

Seismic has raised a total of $64.5 million since the company was founded in 2010 (institutional investors include Jackson Square Ventures), and it has shown strong growth over the past few years, CEO Doug Winter said this morning from Nashville, TN, where he’s attending a sales and marketing technology conference.

Seismic’s cloud-based software helps sales and marketing teams operate more effectively, by automatically updating sales and marketing content from various sources. Many of Seismic’s customers are in financial services, where presentations must be monitored closely to ensure regulatory compliance.

Seismic also provides its customers with analytics on content performance, which enables customer sales and marketing teams to customize their content for specific audiences. Seismic said it now has 175 global customers in the financial services life sciences, healthcare, technology, manufacturing, and insurance industries. More than half of its customers have annual revenues exceeding $1 billion.

Seismic said in April that it had grown revenue by over 120 percent in 2015, and the company disclosed a more than 300 percent year-over-year increase in new revenue bookings during the first three months of this year. Winter declined to provide specific revenue numbers, although he said annual revenue is expected to exceed $25 million by the end of 2016.

The company’s headcount also has grown, from 91 in March 2015 to 175 employees, who work mostly in Boston and Solana Beach, CA, where Seismic has outgrown its headquarters. The company is looking for new offices in the San Diego area, Winter said.

Seismic’s cloud-based software helps sales and marketing teams operate more effectively, by automatically updating sales and marketing content from various sources. Many of Seismic’s customers are in financial services, where presentations must be monitored closely to ensure regulatory compliance.

Seismic also provides its customers with analytics on content performance, which enables customer sales and marketing teams to customize their content for specific audiences. Seismic said it now has 175 global customers in the financial services life sciences, healthcare, technology, manufacturing, and insurance industries. More than half of its customers have annual revenues exceeding $1 billion.

Reiner, who has been a General Atlantic operating partner in the New York area since 2010, was previously a senior vice president and CIO at GE, where he led M&A, sourcing, IT, operations, and quality. His insights as a former technology buyer are expected to boost Seismic’s own sales and marketing efforts, Winter said.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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