Velocify - Volition

GTM Technology
Proptech

Velocify, acquired by Ellie Mae in 2017, provides a sales acceleration software platform that helps high-velocity sales teams turn more prospects into customers.

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ABOUT

Velocify is a market-leading provider of cloud-based intelligent sales software, designed for high-velocity sales environments. Velocify helps sales teams keep pace with the speed of opportunity and improve conversion rates by driving rapid lead response, increased selling discipline, improved productivity, and actionable selling insights. The Company has helped thousands of companies across a variety of industries improve customer acquisition practices and sales performance.

BACKGROUND

Velocify is a vertical-specific lead management SaaS product for high-velocity sales teams. While organizations spend tens of billions on marketing, the average company converts a small percentage of the leads generated from such marketing initiatives and very few organizations have efficient processes to track and convert leads. Velocify experienced impressive growth from the beginning , enabling its clients to significantly improve their conversion rates on leads.

In 2011, the new CEO, led by Nick Hedges, recognized the opportunity to continue to expand their market opportunity, invest in sales and marketing, and bring on an investment partner for the next phase of growth.

In early 2012, Volition Capital invested in Velocify to help the business capitalize on the market opportunity.

WHY WE INVESTED IN VELOCIFY

Volition was particularly focused on MarTech and Sales Enablement technology as lead generation (and dollar spend) continued to move from offline to online. Companies – SMB to the enterprise – were actively scrutinizing their lead management techniques in an effort to qualify, target, and close more leads in an efficient manner.

“By 2011 however, the B2B lead management market was relatively saturated,” said Volition Managing Partner, Roger Hurwitz. “What interested in us was Velocify was targeting B2C – which was largely untapped. Velocify had developed a robust solution capable of capitalizing on a core market opportunity.” In addition to targeting an underserved market, the Volition team recognized Velocify’s sophisticated, highly configurable application built to model many different sales processes and set of management policies concerning leads.

“We saw how passionate the core executive team was about the business,” said Sean Cantwell, Volition Managing Partner. “The team was well-aligned, recognized its strengths and weaknesses, and had ultimate commitmet to building a sizable business. We were confident that the Velocify was well poised to attract high quality talent.”

How We Partnered with Velocify

Helped recruit additional members to the management team.
Advised on strategic plan to expand product offering to expand total addressable market opportunity
Introduced CEO to bankers and assisted team in the positioning and negotiation of the sale to a public company.