February 09, 2016
PALO ALTO, Calif., Feb. 9, 2016 – OpsPanda, a Palo Alto-based SaaS startup focused on Sales Resource Planning, today announced a $5M Series A funding round led by TDF Ventures, joined by a leading private university and seed investor PivotNorth Capital. OpsPanda will use the funds to scale sales and marketing.
Available today and deployed by leading high-growth companies, OpsPanda’s SaaS service uses predictive analytics to help sales teams align goals with results by leveraging data buried in the enterprise—such as quotas, hiring, attrition, skills and ramp. Industry analyst research highlights operational planning as an emerging class of performance management solutions for sales and other business functions.
“At Hyperion we built the budgeting side of EPM, and now we’re tackling sales and marketing where the impact is even bigger,” said Jon Kondo, Chief Executive Officer and Co-founder, OpsPanda. “OpsPanda helps sales leaders marry top-down goals with bottom-up reality, extending the knowledge they derive from spreadsheets and pinpointing exactly when and where to add resources to hit their quarter and year.”
Kondo co-founded OpsPanda in late 2014 with fellow Oracle, Hyperion and Platinum alums and Enterprise Performance Management (EPM) veterans Robert Gersten, Chief Product Officer, and Hung Vo, Chief Technology Officer.
“For far too long, companies have had to rely on homegrown, error-prone spreadsheets to run their sales operations,” said Oracle and Siebel alum Steve Mankoff, General Partner at TDF Ventures, known for early investments in startups like Virtustream (acquired by EMC in 2015). “We’re thrilled to partner with the proven experts at OpsPanda as they address this gap by building and delivering the market-leading, collaborative sales capacity planning and performance management SaaS solution.”
“It is great to welcome Steve to the OpsPanda family,” said Tim Connors, Founder, PivotNorth Capital. “It isn’t often when every founder and investor in a company has had billion dollar IPOs or exits. In Jon, Robert, and Hung, we have a world-class team that knows exactly how to build an enduring company in this category. It is an honor to be invited to help.”
OpsPanda’s rapidly-growing customer base spans from early- and late-stage startups to Fortune 500 companies. If you have or plan a large sales force, learn more and schedule a demo at www.opspanda.com.
Read about OpsPanda’s journey to reinvent sales planning on LinkedIn Pulse.
This brings OpsPanda’s funding to $6M including the $1M seed round led by PivotNorth in 2015.
About TDF Ventures
TDF Ventures invests in Series A stage start-ups focused on Infrastructure, Software and Services (IaaS, SaaS, XaaS). Current areas of focus include security, the intersection of social media in the enterprise, distributed data centers, cloud services, software defined networks, business automation, small cell solutions, mobility and anything as a service. Partners are in Washington, D.C. and Silicon Valley. www.tdfventures.com
About PivotNorth Capital
PivotNorth Capital works to be the first and most-trusted investor in world-class technologists solving problems of importance to society. PivotNorth is run by Tim Connors, a 17-year veteran venture capitalist formerly with U.S. Venture Partners and Sequoia Capital. Tim has had billion dollar exits as an operator and as a VC both via M&A and IPO. The firm is based in Menlo Park, Calif. http://www.pivotnorth.com @PivotNorth @timc
OpsPanda helps companies identify gaps, opportunities and risks of achieving sales goals by modeling, planning, reporting and analyzing their use of sales resources. The OpsPanda application allows sales, operations and finance to define and rationalize the resources needed to meet and exceed their sales targets and the variables that affect the performance of the sales team. Based in Palo Alto, California, OpsPanda was founded in late 2014 by veterans in Enterprise Performance Management (EPM) software. Investors include TDF Ventures, PivotNorth Capital and a leading private university. http://www.opspanda.com @opspandainc
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