February 13th, 2014 by Mike Smalls
I am very excited to share the news today that Hoopla has raised $8 million in Series B funding from a terrific set of investors. (Read the press release here.)
The round was led by Trinity Ventures, a leading Silicon Valley venture firm, with participation from our previous investors, Safeguard Scientifics, Illuminate Ventures and additional private investors. Larry Orr, general partner at Trinity and a software industry veteran, will join the Hoopla board. Along with our existing investors, we feel that Trinity is a great addition. They have a fantastic reputation for adding value to growing companies, they share our vision and fit our culture perfectly.
The new funding will be used to help Hoopla expand our sales, marketing and product development efforts to meet the rapidly growing demand for our cloud-based sales motivation software, which combines modern gamification techniques with powerful data insights to motivate and track sales team performance. We are also hiring aggressively and expect to double our employee base this year.
Since our founding in 2010, Hoopla’s Sales Motivation Platform has been earning rave reviews from our customers on the Salesforce AppExchange. That enthusiasm has helped fuel Hoopla’s rapid trajectory. In just a few short years, we have attracted nearly 300 customers, including industry leaders such as Act-On Software, Angie’s List, Forrester Research, GM Financial, LinkedIn, The Sacramento Kings, Trulia, Xactly Corp., Zillow and many others.
I am thrilled that our customers have found Hoopla to be an essential part of their culture and a key ingredient in the performance of their sales organizations.
Hoopla was founded in 2010 to answer the question: How do you motivate sales people? We knew from experience that salespeople have a lot in common with professional athletes:
- They love to compete, and they love to win.
- They are passionate about their work.
- They love the thrill of a challenge.
- They love to be recognized.
The sports analogy seems to resonate; our customers often call Hoopla “ESPN for Sales.” We take the sales data that’s buried in your CRM system and broadcast live stats and performance updates. We help create friendly competition with leader boards, challenges and contests. We also recognize reps the moment they reach a goal. In essence, Hoopla becomes your very own 24-hour sales channel. And that visibility helps our customers build engaged, high-performance teams.
That’s our goal and our vision. We want to transform the way companies connect their employees to their company’s culture, their teams, and their own performance.
I want to take this opportunity to thank each and every one of our customers, partners and employees who are helping us realize that vision. We look forward to continuing to work with you in the months and years ahead, and to help all of our customers experience the thrill of winning at work.