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<ul><li><keyword id="2321999" type="PERSON" weightage="20" keywordseo="outplay">Outplay</keyword> provides a sales engagement platform that offers sales outreach, dialer, email open tracking and more.</li><li>The company had raised seed funding of $2 million from Sequoia Capital India’s accelerator programme <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword>. </li><li>It claims to have noted about four times growth in its revenue since early this year, with a customer base spread across 50 countries.</li></ul>Sequoia Capital India has invested $7.3 million in Outplay, a multi-channel sales engagement platform. The company intends to use this Series A capital to invest in technology and hiring exceptional talent across the globe. Outplay was founded by Laxman Papineni and Ram Papineni in 2019. The company provides a sales engagement platform that offers sales outreach, dialer, email open tracking, email click tracking, and many more features for sales teams. The company allows sales managers to create sales playbooks to coach their team members and help them achieve their sales targets. The platform claims that its combination of automation and personalisation helps teams start genuine conversations. It enables the sales team to stay on task by using multiple channels, using a single interface. “Outbound sales teams are truly the dark horse of the sales organisation — the targets are high, but the methods aren’t scientific. Outplay is committed to making outbound outreach data-driven, so that sales teams are talking only to the warmest prospects at any given point across multiple channels, optimising time and resources,” said Outplay’s chief executive Papineni. The two-year-old startup had raised $2 million from Sequoia Capital India’s accelerator programme Surge, which hosted 23 companies including <a href="https://www.businessinsider.in/business/startups/news/a-startup-which-helps-you-become-a-makeup-artist-vah-vah-raises-seed-funding-from-sequoias-surge/articleshow/84378187.cms">Vah Vah</a> that raised $1.85 million earlier this month. Sequoia has invested about $55 million in this cohort, along with several co-investors. The cohort also includes 13 companies working in domains of fintech, payments, communications, logistics and Software as a Service (SaaS). “Outbound sales needs are evolving rapidly and reps [representatives] now need personalised, automated and contextual tools to drive sales, which Outplay is successfully enabling. Sales reps spend an average of four hours per day on Outplay, demonstrating the effectiveness of the product which has category-leading customer reviews. Additionally, rapid digitisation due to COVID has been a significant accelerant for the business…,” Harshjit Sethi, Principal at <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword> said. Outplay claims that its revenue has grown over 4 times in revenue and the team has grown three times since its last round of funding earlier this year. Besides this, it now has customers across 50 countries. SEE ALSO <a href="https://www.businessinsider.in/business/news/byjus-acquires-us-based-epic-plans-to-invest-1-billion-in-the-north-american-market/articleshow/84612303.cms">BYJU's acquires another American startup, plans to spend $1 billion on US expansion</a> <a href="https://www.businessinsider.in/business/news/policybazaar-plans-to-raise-close-to-870-million-through-its-ipo-at-a-likely-valuation-of-3-5-billion/articleshow/84606274.cms">PolicyBazaar plans to raise close to $870 million through its IPO at a likely valuation of $3.5 billion</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms">Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO</a>

Sequoia Capital India invests $7.3 million in sales engagement platform Outplay

<ul><li><keyword id="9700532" type="UNKNOWN" weightage="20" keywordseo="indian-saas">Indian SaaS</keyword> segment employs a workforce of over 50,000.</li><li>Indian <keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword> industry has the potential to clock revenue of $75 billion by 2025.</li><li>The SaaS sector, globally, has the potential to surpass IT industry’s valuation this decade.</li></ul>The Indian software-as-a-service (SaaS) segment could employ over 260,000 people in the next four years (by 2025), representing a five fold increase from the current employee base of 50,000. This hiring spree would mostly be accelerated by the segment’s fast-paced growth and the influx of global funding. Indian SaaS segment has the potential to clock a total turnover of $75 billion in the next four years and capture a fifth (19%) of the global demand for <keyword id="6361043" type="UNKNOWN" weightage="20" keywordseo="software">software</keyword> products, as per a report by investment firm Chiratae Ventures and consulting firm Zinnov. The Indian SaaS segment is poised to create a market capitalisation of more than $1.3 trillion by 2025. This is the best-case scenario for India’s fast-growing SaaS industry. Even if the industry continues to grow at the current compound annual growth rate (CAGR) of 51% in the next five years, the country’s SaaS revenue could grow as much as $42 billion by 2025. This is about an eight fold increase from the current $5.3 billion in revenue cumulatively. “It’s no secret that the future of business and scale is SaaS driven, more so in the post-pandemic landscape. What’s interesting however is how quickly Indian companies have set a global benchmark for the industry. The exponential growth unlocked in the last 5 years is a testament to how capital efficient the Indian SaaS industry is,” Venkatesh Peddi, executive director and head of SaaS investments at Chiratae Ventures, said. SaaS is a software distribution model in which software is licensed to users on a subscription basis and is centrally hosted. This is also known as “on-demand software”. There are over 1,000 players in the Indian SaaS segment, which has received $6 billion in investment in the last decade (2010-2020) as per the report. A few key players in the Indian SaaS segment are Zoho Corp, Freshworks, Browserstack, Postman, Zenoti, Chargebee, HighRadius, Icertis and Druva. The report also adds that sales management platform MindTickle, conversation automation platform uniphore and workforce management software FarEye may be entering the unicorn club soon. Globally, the SaaS segment has the potential to take over the information technology (IT) industry in terms of valuation this decade. The report notes that the SaaS segment will cross $1.8 trillion valuation by 2030, compared to the $1.6 trillion valuation of IT services. “IT Services has been foundational to Indian progress and rising footprint in the global market. We are seeing this sector in SaaS, which is growing and providing India the spotlight that Indians deserve in the global market. So this is the second industry, after IT service, which is really powering through. 2025-2030 will be the year when Indian SaaS would become mightier in terms of market value,” Praveen Bhadada, managing partner at Zinnov, told Business Insider. The revenue per employee for IT services companies in 2020 was around $47,000. Meanwhile, the revenue per employee for SaaS firms grew 30% to $100,000 last year. Notably, Indian SaaS sector earns 70% of their revenue from global markets, and it is bound to grow further to 85% by 2025. SEE ALSO <a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/byjus-acquires-us-based-epic-plans-to-invest-1-billion-in-the-north-american-market/articleshow/84612303.cms" data-type="tilCustomLink">BYJU's acquires another American startup, plans to spend $1 billion on US expansion</a> <a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms" data-type="tilCustomLink">YouTube is testing shopping feature on live streams for select creators</a> <a href="https://www.businessinsider.in/business/startups/news/sequoia-capital-india-invests-7-3-million-in-sales-engagement-platform-outplay/articleshow/84617329.cms" data-type="tilCustomLink">Sequoia Capital India invests $7.3 million in sales engagement platform Outplay</a>

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Sequoia Capital India invests $7.3 million in sales engagement platform Outplay

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India’s SaaS sector to hire more than 260,000 people by 2025

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