Totango Announces $100 Million Growth Investment to Democratize Customer Success
The round comes on the heels of a record year for Totango with 313% growth and the launch of the industry’s first and only free Customer Success platform.
REDWOOD CITY, CA and BOSTON, MA – September 29, 2021 – Totango, the customer success leader in leveraging data to orchestrate and transform revenue experiences, today announced $100 million in Series D funding. The round was led by Great Hill Partners, a thematic growth equity investor that targets leading businesses in disruptive markets. Existing Totango investors also participated in the round including BGV, Pitango Ventures, and Canvas. This investment is expected to accelerate Totango's leadership by funding expansion of Totango's unique product-led-growth (PLG) go-to-market strategy, product development, and other strategic growth initiatives.
Building customer journeys that meet both customer's expectations, as well as revenue performance, is essential for digital-first businesses. However, today, business teams are forced to use separate, unintegrated tools to map, design, build, and run customer engagement programs. They cannot close the Revenue Experience Gap™ fast enough and end up with non-competitive customer experiences and revenue leakages.
Totango pioneered SuccessBLOCs, a visual, no-code, modular technology that allows companies of any size to rapidly and continuously design, optimize and run every aspect of their customer journey. Today, thousands of customers use Totango’s products to onboard new customers, drive adoption and value for their users, and proactively detect and resolve churn risks. Totango’s focus on ease of use and automated, self-administration has a significantly lower cost of ownership than any of its competitors with demonstrated ROI of 23+ points in churn reduction, 136% year-over-year expansion growth, and significant improvements in brand reputation.
"Since its inception, Totango has been at the forefront of customer success. In an age where hybrid work by remote teams has become the norm and the rate of change has increased exponentially, customer success technology that is visual, modular, and easy to implement and use has become more critical than ever," said Guy Nirpaz, Founder and CEO of Totango. "Our rapid growth demonstrates our product, which removes the friction to design, run and scale customer journeys, has become a necessity for businesses to orchestrate first-class customer experiences that drive revenue growth, at scale.”
Founded in 2010, Totango has been on a hyper-growth trajectory reflecting strong demand for the Company's software due to the heightened importance of customer success and digital engagements. Totango's modular software with its intuitive design, flexible architecture and exceptional scalability has driven widespread adoption, with thousands of businesses of all sizes using Totango, from a team of two to large complex global organizations. Today's milestone follows an active year for Totango, which saw 313% year-over-year growth and the launch of the industry's first and only free-forever customer success platform.
"As one of the original entrants into the customer success market, Totango has emerged as a clear leader in an exciting industry through its relentless focus on customers, product innovation, and thought leadership," said Christopher Gaffney, Managing Director at Great Hill Partners. "We are excited to support the Company's continued growth as it capitalizes on the large, underpenetrated market opportunity ahead and delivers best-in-class customer success experiences for businesses of all sizes.”
About Totango Totango is the fastest growing, most trusted customer success leader in leveraging data to orchestrate and transform revenue experiences. Totango SuccessBLOCs, a visual, no-code modular technology empowers teams to build transformative customer journeys that quickly close the Revenue Experience Gap™ and drive revenue growth at scale. Thousands of businesses from start-ups to the fastest-growing enterprises like Zoom, SAP, and Google trust Totango to rapidly and continuously design, optimize and run their customer engagements. Businesses that use Totango products experience faster onboarding of new customers, higher product adoption and value for their users, reduced churn, and increased revenue growth. Get started with Totango for free at www.totango.com
About Great Hill Partners Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised nearly $8 billion of commitments and invested in more than 75 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.