San Francisco – March 13, 2019 – MindTickle, the leader in Sales Readiness technology, today announced key developments and achievements demonstrating strong growth in recurring revenue, customer acquisition, continued product innovation, and industry validation. Businesses are increasingly striving for better customer experiences and greater levels of customer engagement. As these organizations relied on MindTickle to ready their sales and other customer-facing teams with world-class customer engagement capabilities, MindTickle grew its enterprise customer base by 200 percent and increased annual recurring revenue by more than 100 percent year over year. To support MindTickle’s growth and expanding roster of marquee customers, MindTickle brought new products to the market while earning recognition from industry experts and analysts.
“Sales cycles have become more complex and are taking longer. Buyers are more informed and have evolved their expectations while buying teams are expanding to include more decision makers. These trends have made engaging and delighting prospects and customers at every moment, including person-to-person interactions, critical for companies to drive revenue and cultivate a positive brand experience,” said Krishna Depura, CEO and co-founder of MindTickle. “Every organization today recognizes the need for a systematic approach to building, reinforcing and measuring the desired knowledge and behaviors through sales readiness and continuous learning programs. MindTickle is providing these companies with an ongoing approach to prepare teams to develop and foster customer-centric relationships focused on lifetime value. This leads to faster ramp times, bigger deal sizes and increased win rates.”
“MindTickle is experiencing extraordinary growth in large part because we are providing a real-time understanding of the revenue-producing capability of our customers’organizations — effectively the measure of their business. To that end, we are also investing in helping our customers define, adopt and implement best practices for onboarding and ongoing delivery of field-ready knowledge, development of measurable skills and observable execution in the field as a set of measurable KPIs and metrics, ” said Gopkiran Rao, senior vice president of strategy and go to market at MindTickle. “Our mix of AI-enhanced technology, mobile-ready learning and coaching applications, integrations and services expertise set us apart and make us the go-to partner for these organizations.”
Strong Growth Across the Business
Customers continue to validate MindTickle’s Sales Readiness platform with the company growing their Fortune 500 and Global 2000 customer base by 200 percent year over year. MindTickle now counts four of the largest 15 health and life sciences companies and three of the largest 15 global technology companies as customers. To support this growing list of customers, MindTickle doubled its headcount, adding more than 110 employees in 2018 across departments like engineering and product management, customer success and sales. In addition, 25 channel and partner organizations were added as official partners to support customers’ sales enablement and readiness initiatives while expanding MindTickle’s market reach.
Innovating Products and Services to Help Customers Improve Sales Effectiveness and Efficiency
In 2018, MindTickle released a number of product capabilities that bring additional value to customers:
- Embedded machine learning (ML) and Artificial Intelligence (AI) to enable administrators and managers to assess rep performance effectively, coach individuals and teams, and prescribe targeted remediation. New capabilities included machine-assisted evaluations such as automatic transcription of virtual role-plays, keyword identification, and machine-assisted seller performance monitoring with quantitative and qualitative scoring.
- Developed greater capabilities in sales coaching and virtual role-play that give enablement administrators smarter insights into the adoption of coaching and role-play programs and make it easier for managers to provide precise feedback, ensuring consistency across the sales organization
- Provided new micro-learning and content creation capabilities with advanced support for webcam and screen capture. This capability assists creators in quickly developing and distributing relevant and timely content to teams.
- Added advanced visual analytics to provide real-time insights into how reps are learning to further evolve their onboarding and enablement process. Radar charts, heat maps and engagement statistics help identify which reps need additional coaching, as well as which programs are most beneficial to targeted learning or remediation for more impactful enablement.
- Released a next-generation integration platform to seamlessly and automatically create personalized sales readiness paths leveraging data and content from existing human resources (HR) and sales and marketing technology systems. The current platform includes more than 60 pre-developed connectors with HR Management Systems like Workday and BambooHR, CRM systems like Salesforce and Veeva, Content Management Systems like Highspot and Seismic, and content repositories like Microsoft OneDrive, Google Drive, Box and Dropbox.
Recently, Aragon Research named MindTickle a Leader in their Tech Spectrum for Sales Coaching and Learning. The report assessed vendor technologies that enable companies to better train and coach their sales and customer-facing organizations. According to the report, MindTickle’s platform offers a “coaching framework which offers function and role-specific competency maps in the form of their Sales Capability Index™ that inform personalization of learning paths and coaching.” In addition, they cited MindTickle’s platform approach which leverages robust integrations to Customer Relationship Management, Sales Enablement, Learning Management Systems and Human Resources Management Systems. They similarly noted that MindTickle supports micro-learning with native content creation and support for advanced analytics and AI/ML.
In 2018, MindTickle was recognized by various analyst firms and peer review sites:
- Gartner listed MindTickle as a representative vendor in The Hype Cycle for CRM Sales, 2018 by Melissa Hilbert and Tad Travis in the Sales Training and Coaching Solutions category saying, “Application leaders supporting sales will implement training and coaching to augment their SFA implementation as these tools support significant increases in their productivity and performance. Training including internal systems and material needed to sell, as well as coaching and evaluating skills, are a part of onboarding as well as continued development of existing sales.”
- Forrester Research also included MindTickle as a Sales Readiness Provider in their report, Now Tech: Sales Readiness Tools, Q1, 2018. Author Mary Shea, says, “Gamification drives engagement, and content is served up in snackable chunks: It can take 3 minutes or less to complete a daily training event. These tools are ideal for the multitasking Millennial rep. Continuous reinforcement of concepts is a key differentiator for this segment.”
- In the winter of 2018, G2 Crowd placed MindTickle in the Leader category for all segments across four different areas of sales technology which include Sales Training and Onboarding Software, Sales Enablement Software, Sales Coaching Software, and Sales Performance Management Software.
*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
MindTickle provides a comprehensive, data-driven solution for sales readiness and enablement that fuels revenue growth and brand affinity. Its purpose-built applications, proven methodologies, and best practices are designed to drive effective sales onboarding and ongoing readiness. With MindTickle, company leaders and sellers can continually assess, diagnose and develop the knowledge, skills, and behaviors required to effectively engage customers and drive growth. Companies across a wide range of industries use MindTickle’s innovative capabilities for on-demand, online training, bite-sized mobile updates, gamification-based learning, coaching and role-play to ensure world-class sales performance. MindTickle is a global, privately-held company headquartered in San Francisco, CA. Visit them at www.MindTickle.com.