“Former Microsoft Office 365 Team Members Secure $34M Funding for Fullcast, a RevOps Platform Addressing Revenue Pain Points”
Dharmesh Singh and Bala Balabaskaran, veterans from Microsoft’s Office 365 team, collaborated on revenue operations and planning at Salesforce, where they encountered common challenges in forecasting and executing plans using traditional methods. Their shared experience led to the creation of Fullcast in 2021, a platform designed to help companies manage and monitor the performance of their revenue-generating teams by integrating with existing software, such as customer relationship management tools.
Since its launch, Fullcast has experienced substantial growth, with revenue reaching around $6.5 million and a customer base of approximately 80 brands, including notable names like Iterable and Collibra. This week, the company announced a significant milestone by securing $34 million in a seed funding round and acquisition led by Epic Ventures, with participation from Companyon Ventures, Firsthand Alliance, True Blue Partners, and Sepio Capital. Silicon Valley Bank also provided a $4 million credit line.
As part of the funding announcement, tech entrepreneur Ryan Westwood has joined Fullcast as CEO, succeeding Dharmesh Singh, who will transition to the role of Chief Customer Officer. Westwood, the co-founder of Simplus, a tech consulting firm acquired by Infosys, brings a new C-suite team on board, including Isaac Westwood as Chief Operating Officer, Amy Cook as Chief Marketing Officer, and Lance Evanson as Chief Commercial Officer. The group collectively committed $8 million toward Fullcast’s financing round.
Westwood envisions significant expansion for Fullcast, emphasizing the platform’s goal of simplifying the lives of revenue-generating teams. He acknowledges the challenges faced by organizations in unifying strategy, process workflow, data analysis, and technology stack across sales, marketing, and customer success. Fullcast aims to address these challenges by offering revenue optimization capabilities, real-time productivity improvements, and AI-powered insights.
While recognizing formidable competitors in the RevOps platform space, such as Anaplan and Xactly, Westwood highlights Fullcast’s technical prowess and speedy implementation as a competitive edge. The company plans to utilize the seed funding to enhance the platform’s user interface, improve capacity planning, and introduce AI-powered capabilities for smart and contextual workflow automation. Westwood also hints at potential strategic mergers and acquisitions and expanding Fullcast’s workforce, currently numbering around 50 people.
Despite economic headwinds, Westwood expresses confidence in Fullcast’s growth potential, citing strong renewals and negligible churn. He sees the current era as opportune for becoming fully invested in pushing the RevOps industry forward and tapping into its tremendous growth potential.
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