Announcing our Investment in Traction Complete
We are excited to announce our investment in Traction Complete, a rising market leader in the growing Revenue Operations (RevOps) space. Traction Complete bridges the data gap between sales, marketing and customer success teams, addressing a common unsolved pain point faced by high-growth organizations. The company’s US$5 million equity financing round was led by Pender Ventures, with participation from Thomvest and other existing shareholders.
Today more than ever, organizations are struggling to make data-driven decisions about their go-to-market, especially as their sales and marketing channels and teams grow. Traditionally, sales, marketing and customer success teams have worked independently, generating valuable lead and customer account data, which usually sits in disparate silos. The abundance of low-quality and disconnected customer data can quickly become restrictive and often prevents organizations from optimizing their sales pipeline and reaching their full potential.
The need to better manage growth led to the emergence of RevOps, which aims to maximize revenue by creating alignment between sales, marketing and customer support teams, and allowing them to work as one unified revenue team. Since its emergence in early 2010, RevOps has gained significant traction, with Gartner predicting that three in four of the highest growth companies will have deployed a RevOps model by 2025.
Traction Complete saw an opportunity to streamline messy CRM data and automate lead management with a robust, low-code/no-code platform. Traction Complete automates data cleanup, account hierarchies, matching and routing, saving revenue teams time and empowering them to work smarter. Driving sales efficiency has never been more critical than in today’s uncertain economic environment. Teams need to focus on closing deals without the stress of manually logging data. Traction Complete offers these teams a single source of truth that provides the foundation to making better data-driven decisions to navigate economic slowdowns.
Traction Complete is a spinout of Traction on Demand (acquired by Salesforce in 2022). The company’s fantastic team of 50 is led by David Nelson, who previously ran product development at Traction on Demand. Today, Traction Complete works with channel partners Salesforce and Dun & Bradstreet and is trusted by roughly 150 customers from around the world, including Cisco, Asana and DocuSign.
At Pender Ventures, a core pillar of our investment thesis is focused on companies enabling enterprise systems of insight and workforce empowerment, and Traction Complete aligns perfectly with this philosophy. The team is committed to bridging the data divide for high-growth companies by automating manual data entry and tracking insights for revenue teams, allowing them to focus on what matters the most: driving revenue and growth.
With the combination of a great team, beloved product and a massive market opportunity (total addressable market of $6B[1]), we believe Traction Complete is well-positioned to not only capture but lead this market in the years to come. We are thrilled to join the company on its growth journey to rev up RevOps and empower sales teams worldwide.
[1] Ascertained during sector research and investment due diligence.
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