India’s Mindtickle Inc. hit a valuation of $1.2 billion with a funding round led by SoftBank Group Corp., as global investors plow capital into the country’s fast-growing technology industry.
Existing backers including Norwest Venture Partners and Qualcomm Ventures participated in the $100 million round that has more than doubled Mindtickle’s valuation. The latest funding takes the total capital raised to $281 million, including a $100 million round last November that was also led by SoftBank, the company said in a statement Thursday.
The startup, based in Pune in western India and San Francisco, provides what it calls sales readiness technology: artificial intelligence-based sales tools to improve selling, product knowledge and awareness of the competition. Companies can customize Mindtickle’s templates with their own content and data, as well as analyze and incorporate customer feedback. Mindtickle aims to use the new capital to grow its client roster, make acquisitions and improve its products.