MindTickle Success Story – Helping teams do better sales

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by MindTickle.

For anyone who is in the selling business is aware of how the world of sales is ever-evolving. In a competitive world like this, it is even more important for the sales team to be on their toes to keep up with the changing demands of the modern sales cycle.

Companies always need to be sales-ready, in other words, they need to embrace sales readiness programs to keep up with the rapidly changing market. In addition, businesses should have a comprehensive sales readiness strategy that includes all the solutions that would help them give an insight into what’s happening in the market, thus helping them maintain their revenues and other expenses.

To make things easier for such companies, MindTickle comes to the rescue. Founded ten years ago, Mindtickle is a sales preparedness platform that offers onboarding, product training, coaching, and continuous readiness services to aid thriving firms to become scalable and give them successful sales team and partner preparation.

Check ahead all the details that cover about MindTickle’s journey. Read about its startup story, its founders, competitors, business and revenue model, acquisitions, and more in this article.

MindTickle – Company Highlights

Headquarters San Francisco, California, USA
Sector Software Development
Founder Krishna Gopal Depura, Deepak Diwakar., Nishant Mungali
Founded 2012
Valuation $1.2 billion
Revenue $40.1 million
Total Funding Raised $281.3 million
Website www.mindtickle.com

About MindTickle and How does it work?
MindTickle – Industry Details
MindTickle – Founders
MindTickle – Startup Story
MindTickle – Mission and Vision
MindTickle – Name, and Logo
MindTickle – Business & Revenue Model
MindTickle – Funding, and Investors
MindTickle – Awards and Achievements
MindTickle – Competitors
MindTickle – Future Plans

About MindTickle and How does it work?

Established in 2012, Mindtickle acts as a sales readiness platform by assisting revenue executives at world-class firms such as Johnson & Johnson, Splunk, and Wipro in preparing for revenue growth by boosting knowledge, pinpointing desired sales practices, and responding to change.

Mindtickle provides on-demand online training to the company’s sales team with mobile updates, coaching, and role-playing with a data-driven strategy, accelerating time-to-productivity, and assuring consistent execution by resulting in sales effectiveness. It assists world-class organizations in increasing income by widening knowledge, recognizing optimum sales practices, and adjusting to change.

The company is best known to offer sales enablement programs and training. This software by Mindtickle is designed to improve the overall engagement of the team with AI-driven reinforcement and practice exercises which helps them to train and develop their skills. The platform also helps organizations to map out revenue outcomes through specific skill sets.

This San Francisco-based company is used by dozens of Fortune 500 and Forbes Global 2000 firms to define excellence, generate expertise, align content, assess performance, and improve behavior across their sales groups.

Due to its technologically advanced sales readiness platform, most of the top industry experts identify Mindtickle as a market leader. Even G2 ranks Mindtickle as the No. 1 corporate software product.

Mindtickle has a footprint in over 115 countries since its clientele has branches all around the world.

MindTickle – Industry Details

As the usage of the internet and online conferencing software grows, especially after the pandemic era, the demand for software is also rising. The software industry remains one of the fastest-growing sectors as compared to other industries. As a consequence, the software industry market size was estimated to be $389.86 billion in 2020, and it has only grown since then. This industry is anticipated to grow at a CAGR of 11% from 2022 to 2030.

The market size of software development is vast and is only getting bigger and better with each passing hour.

MindTickle – Founders

Mindtickle is founded by Krishna Gopal Depura, Deepak Diwakar, and Nishant Mungali.

Krishna Gopal Depura

A student of IIT (Roorkee), and ISB, Krishna Gopal Depura is the CEO and co-founder of Mindtickle. Before launching Mindtickle, he was the Director of Product Management at PubMatic. Besides this, Krishna has worked in many organizations in handling important and strategic decisions. He has worked with notable corporations and startups such as Microsoft, Tejas Networks, and Infinera.

One of his biggest thrills is knowing that Mindtickle’s clients are successful and pleased and that the company is a market leader in the sales readiness platform.

Deepak Diwakar

One of the co-founders of Mindtickle is Deepak Diwakar. He is in charge of the technology and operations of the company. After completing his graduation from IIT, Bombay, Deepak began his career as a software developer at PubMatic, where he worked for 3 years. His main operation is to establish the company’s technology direction and guarantees that its services are secure and dependable. He also manages operations and collaborates with Mindtickle’s worldwide staff to meet the company’s objectives.

Nishant Mungali

Nishant Mungali looks after the product strategy at Mindtickle. He is a seasoned user experience and designs professionally. With a keen interest in UI and UX, Nishant is most fascinated with usability and providing Mindtickle’s clients with the best user experience possible.

Nishant gained his bachelor’s degree in Communication Design from IIT, Guwahati. He began his career at PubMatic and then moved on to D.E. Shaw & Co as an Interaction Designer.

MindTickle – Startup Story

Before the start of something great, there is always an inspiring story of those who worked hard to make it big. Such is the story of Mindtickle’s startup story. The three IIT graduates started the company from the scratch in the late months of 2011.

The founders have shared that when Mindtickle was initially started, it was very difficult for them to even get 4 clients for its new readiness platform.

MindTickle’s three co-founders experimented with gamification for the first time in 2006. They formed a group called ‘TeraMeraIdea,’ which brought students from all across their campus and the world together to participate in fun activities through the internet. They started conducting activities like quizzes and puzzles on various topics and NGO-related activities. They even took to Facebook to attract a lot of traffic. Further investigation revealed that this is where they saw success and came up with Mindtickle.

MindTickle previously focused solely on employee engagement across various businesses. When the three saw that the requirement for staff learning was not being met, they decided to turn their attention to learning as well. After a certain point, the company gradually changed its attention to an effective learning platform while maintaining the insights learned from the engagement trials.

MindTickle – Mission and Vision

Mindtickle has values that they strive to live by:

  • Give Delight to its customers
  • Act like founders
  • Better Together

The word mind tickle means ‘anything that makes a person laugh’.

The reason the founders named their company Mindtickle is when they initially developed an engaging gaming platform with an unusual approach, they wanted to give people a rare experience that would help their customers learn while receiving rewards for their successful learning.

MindTickle – Business & Revenue Model

As mentioned in the above points, Mindtickle operates by offering various sales readiness solutions to top business companies. Therefore, its business model is B2B. Its business model can be further described as a developer of a data-driven sales readiness platform to enhance business impact across pre and post-sales teams.

The majority of the business operations of Mindtickle involve a sales readiness platform with the following other services:

  1. Sales Content Management: This software by Mindtickle helps to align content and revenue with its integrated sales readiness platform, which allows organizations to access their team’s content, collaborate, and track their other content in the funnel.
  2. Sales Enablement and Training: With the help of AI-driven technology, the sales team can up their onboarding level through gamification and microlearning tools and train them to reach their goals.
  3. Sales Readiness Index: This Readiness Index by Mindltickle empowers the revenue teams with the assistance of AI-based benchmarks and tools that will allow them to analyze, report, and match with their representative’s behavioral approach.
  4. Personalized Sales Coaching: Mindtickle’s personalized sales coaching is what the name suggests, that is, it offers a completely flexible and personalized coaching experience to representatives to address their strengths and weaknesses. It provides a hybrid coaching system either through in-person, virtual, peer-to-peer, or even self-coaching.
  5. Sales Enablement Analytics: This platform allows organizations to gather insights into sales performance, which is designed for everyone, such as sales leaders, managers, and trainers to give them an understanding of how training and other enablement programs have impacted the entire team’s productivity. The dashboards on this platform give them the liberty to build reports and even export to any BI tool for centralized reporting.

Mindtickle’s sales readiness platform generates most of its income through automated training paths, and by offering learning modules to top industries like financial services, HR, manufacturing, technology, tourism and travel, life sciences, etc. Mindtickle’s clientele includes companies like; Menemsha Group, Data Axle, Johnson & Johnson, Juniper Networks, ChowNow, PureCars, Pricelabs, Cipla, Factomart, etc.

MindTickle – Product/Solutions

Mindtickle is a leader in the market for providing ample sales readiness solutions. Its solutions help organizations focus on their team’s sales training and coaching needs.

Mindtickle offers the following solutions for the revenue team to set goals, and create a coaching environment for them to improve long-term performance. There are:

Mindtickle sales readiness solutions for the sales team are:

  • Sales Onboarding
  • Managed-Led Coaching
  • Sales Training
  • Sales Kickoffs
  • Partner Enablement
  • Account Strategy and Review
  • Voice of the Customer

Mindtickle sales readiness solutions for the entire team or organization are:

  • Sales enablement professionals
  • Sales leadership
  • Frontline sales manager
  • Sales and revenue operations

MindTickle – Funding, and Investors

MindTickle has raised $281.3 million in investment over seven rounds. Their most recent fundraising came in the form of a Series E round on August 5, 2021. The company is backed by a total of eight investors. These investors are;  Qualcomm Ventures, Norwest Venture Partners, Canaan Partners, NewView Capital, SoftBank Vision Fund,

New Enterprise Associates, and Accel. The funding details are:

Date Funding Round Amount Investors
August 5, 2021 Series E $100 million SoftBank Vision Fund
November 16, 2020 Series D $100 million SoftBank Vision Fund
November 16, 2020 Debt Financing
July 29, 2019 Series C $40 million Norwest Venture Partners
December 12, 2017 Series B $27 million Canaan Partners
November 19, 2015 Series A $12.5 million New Enterprise Associates
October 10, 2014 Seed Round $1.8 million

MindTickle – Awards and Achievements

As the market leader in the sales readiness platform, Mindtickle has won some awards which are listed below:

  • Mindtickle has been recognized in the Top 50 Enterprise Products
  • & Sales Products in 2022.
  • Mindtickle has been listed in the Top 100 Software Products & Highest Satisfaction Products in 2022.
  • Mindtickle has won the Best Customer Support Award in 2021
  • Mindtickle has won Bronze 2020 Stevie Winner for Sales & Customer Service
  • Mindtickle has won the Sales & Marketing ‘The Sammy’ Technology Award 2020

MindTickle – Competitors

Some of the top alternatives to Mindtickle are:

  • LevelJump
  • SalesHood
  • Allego
  • SAP
  • Highspot
  • Clearslide
  • Salesforce
  • Showpad Coach (formerly LearnCore)
  • Brainshark
  • Gong
  • Chorus.ai
  • Lessonly by Seismic

MindTickle – Future Plans

Mindtickle recently announced that it has partnered with Baker Communications, Inc. (BCI), a sales transformation company to strengthen its sales productivity. With the help of this partnership, Mindtickle plans to provide a sales excellence joint solution that will alter the way firms assess, benchmark, and develop the selling talents of every customer-facing person. Their goal is to favor organizations to identify, develop, and integrate core selling competencies and tools to be sales-ready.

FAQs

What does MindTickle do?

MindTickle provides on-demand online training to the company’s sales team.

Who is the CEO of MindTickle?

Krishna Depura is the CEO of MindTickle.

Is MindTickle a Unicorn?

Yes, MindTickle became a Unicorn in 2021.