Toronto-based GrowthGenius, an all-in-one sales automation platform, this week announced the close of $2.3 million investment round led by the private equity arm of FirePower Capital.
The new funding, which will be a mix of term debt and equity, is designed to accelerate the nearly 200% annualized revenue growth since the beginning of the year, the company said in a release.
“We built GrowthGenius to help great companies succeed by never having to worry about sales again,” noted Brandon Pizzacalla and Will Richman, co-founders of GrowthGenius. “With our recent funding, we will continue improving our core product and drive more value for our hundreds of customers.”
GrowthGenius was founded in 2016 to help “companies automate sales prospecting so that the people at those companies could focus on more valuable work.”
The company operated for three years as a tech-backed sales agency before launching its sales prospecting automation software publicly in 2020.
“GrowthGenius combines the power of sales automation technology with the insights and perspective of sales consultants to provide a highly effective offering,” the founders said.
Two of FirePower Capital’s executives — Anthony Lipschitz and Sebastien Douville — will join the firm’s board of directors.
Lipschitz brings over two decades of experience in sales, investing and executive leadership at technology companies that include StubHub, ThinkingCapital, and BrightSpark. Douville, meanwhile, has 15 years of management consulting, operational, financial, and M&A experience.
Since the launch of GrowthGenius’ software platform in June 2020, the customer base has grown to over 500 companies, the release stated.
It added that “marketing agencies, sales agencies, and professional service firms have had the highest success with GrowthGenius, though the company has worked with customers across nearly every vertical.
“In the last year, GrowthGenius has generated over 90,000 sales conversations and over $350 million in qualified sales pipeline for its customers and clients.”
