Gong.io Analysis

Goals

To build a report analyzing Gong.io during the company's years in business.

Early Findings

  • Gong.io (Gong) is a conversation intelligence platform for B2B sales teams. The company is a developer of a revenue intelligence platform leveraging artificial intelligence going beyond traditional CRM to transform sales teams. The company's patented intelligence platform captures and understands customer interaction, delivering insights at scale that empowers sales teams to make decisions based on data instead of opinions.
  • Customer growth : Gong's Users was reported to be 45k in Dec, 2019. Gong's Enterprise Customers was reported to be 700 in Dec, 2019. Website Visits as of Feb 2020 totaled 270.2k users (cybersecurity rating B). Twitter followers 5.1K, Alexa ranking 36,574.
  • Revenue growth- growth increased from $8.2 million (2018) to $45 million as of 2020 (revenue retention of 150.0%) with 2K customers.
  • Product launches: People Intelligence (sales coaching platform), Deal Intelligence (deal visibility from contact to close), Enterprise (enterprise selling platform), Intergrations (connect Gong's Revenue Intelligence platform to your systems), Security (enterprise-grade security features with comprehensive audits of applications, systems, and networks), and Field Sales (new sales environment).
  • Acquisitions: Gong : acquired ONDiGO on Apr 16, 2018.
  • Partnerships: February 12, 2020 Gong, the revenue intelligence platform leveraging artificial intelligence to replace opinions with true customer reality and transform revenue teams, today announced a partnership with InsideOut, a sales play development company helping high-growth companies design, test, and install sales plays to improve buyer engagement for large scale sales teams.
  • Team size growth : The team has grown from 221 in Sept 2019 to 362 employees with 29 current openings Sept 2020.
  • Key Hires: Gong has 8 current team members: Co-Founders- Amit Bendov, CEO and Eilon Reshef, CTO; Jameson Yung, VP Sales; Udi Ledergor, CMO; Tim Riiters, CFO; Eran Aloni, COO; Chris Orlob, Dir Sales; Sonam Dabholkar, Dir, Customer Success Ops; Sandy Kochhar, CPO: Ryan Longfield, CRO. Board members and advisors include Dharmesh Thakker, Ben Fu, Peter Wagner, Carl Eschenbach, Daniel Karp, and Dror Nahumi.
  • Pricing updates/changes: the information about pricing updates and changes is not readily available- there is a link on the company's site to request prices.
  • Customer testimonials:there are many customer testimonials on the case studies page, among which Hubspot reps increase productivity and ramp faster with Gong. Gong gives Genesys Sales Managers the ability to 'ride shotgun' with any deal. Shopify creates a learning environment for their sales team. ServiceTitan gains higher close rates with deal intelligence. Gong never disappoints. Many apps "stay good" for the term of their use but those like Gong (that improve over time) constantly deliver value, day after day- CRMNEXT. Always excited to share news of growing Israeli companies, but with Gong, to say I'm a fan is an understatement- LinkedIn-Israel. So happy for our friends at Gong! Such a great example of a relentless pursuit to serve their customers- Emplify.
  • Valuation over time : Current market valuation at $2.2 billion (Aug 2020). Gong raised a total of $333M in funding over 6 rounds, with the latest funding round of $200 million on Aug 12, 2020 from a Series D round- a post-money valuation between $100M-$500M as of Dec 3, 2019. The company began its first funding round in 2014, and is funded by 11 investors (Index Ventures and NextWorld Capital are the most recent), Wing Venture Capital, Norwest venture Partners, Coatue Management, Battery Ventures, Thrive Capital, Salesforce Ventures, and Sequoia Capital (both C & D rounds).
  • Likely buyers : range from commercial to non-commercial and private customers, including remote sales teams.
Competitor analysis: top 5 competitors
  • Aviso offers AI-driven forecasting and sales visibility platform. The company has 94 employees, and 861 Twitter followers, Alexa ranking 246,095. Total funding raised $31 million with $8 million in its latest funding round.
  • Clari is a computer software company that helps companies realize their fullest potential by transforming their revenue operations. The company has 282 employees, and 1.7K twitter followers. Its latest valuation is $500 million. Alexa ranking 85,569. The Latest funding round $60 million/$121 million total raised.
  • Yesware is a company that provides an inbox productivity platform transforming the way emails are sent. The company has 83 employees, and 7.7K Twitter followers. Alexa ranking 39,260. The Latest funding raised $14.9 million /$47.8 million total raised.
  • Salesloft is a company that develops a sales engagement platform. The company has 470 employees, and 18.8k twitter followers. Its latest valuation is $600 million. Alexa ranking 34,818. The Latest funding raised $70 million/$145.8 million total raised.
  • Tethr, also known as CollabIP, is a company developing an AI-powered conversation intelligence platform. The company has 55 employees, and 487 Twitter followers. The Latest funding raised $15 million/$36.2 million total raised.

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