PRINCETON, NJ, Dec. 19, 2018—Edison Partners today announced leading a $5.4 million growth investment in ExecVision, the Arlington, Va.-based conversation intelligence platform provider, with participation from existing investors. Edison invested $4.2 million of the new capital. The growth financing follows the company’s strong market momentum and will be used to fuel continued traction with midsized and enterprise sales and contact centers.
ExecVision brings visibility and accountability to every customer conversation. This is accomplished by ingesting the big data of sales and service calls, applying AI to identify where attention is needed, and automating proven coaching methods to drive lasting rep behavior change. ExecVision’s customers report lift in rep productivity and conversion rates above 35 percent, pipeline growth by nearly 150 percent, sales cycle reduction up to 25 percent, and decreased new rep ramp time by 33 percent, among other key benefits.
“ExecVision’s performance-driven approach to conversation intelligence is category-defining, as evidenced by the company’s success signing six-figure contracts with leading brands,” said Kelly Ford, Partner at Edison Partners, who led the investment and joins the company’s board of directors. “And unlike too many players in the emerging sales tech stack, ExecVision has built their business first, delighting customers and capital efficiently figuring out a growth formula. We’re delighted to partner with David Stillman and team to scale up that growth and build sustainable category leadership.”
ExecVision has processed nearly 8 million calls to-date and achieved 2x revenue growth each year since its founding in 2015. The platform is a core component of the modern sales and contact center tech stack and now powers the performance of 4000+ users across more than 140 companies, including notable brands Aruba Networks, OnDeck Capital, SoftwareAG, ServiceTitan, and Workday. Among its many industry honors, most recently, AA-ISP (American Association of Inside Sales Professionals) named ExecVision the top service provider for conversation intelligence and analytics solutions.
“Our focus on driving rep development and behavior change has been accepted and validated by our customers, and has allowed us to outperform less capital-efficient competitors during these critical early innings of the conversation intelligence category,” said David Stillman, CEO of ExecVision. “Edison Partners further validates our winning strategy and game-plan, and uniquely brings the growth capital and operating expertise value proposition we need to sustainably scale. We look forward to the partnership with Kelly and team to accelerate our category leadership and market adoption.”
Edison Partners has financed and guided more than 200 private companies, a third of which have been in the enterprise solutions space. This is the fifth investment from Edison Partners Fund IX, Edison’s latest $365 million growth equity fund that closed in October of this year. ExecVision is the firm’s second investment in the Washington, D.C. metro area this year, including Giant Oak, the threat protection platform for government and financial services organizations.
Edison Partners has been actively investing in the sales, marketing and contact center technology arena for more than a decade with successful exits, such as NetProspex to Dun & Bradstreet, Uptivity to inContact (now NICE) and Vocus’ public offering (now Cision). Active investments in these categories include Terminus in account-based marketing, content insight and activation platform PathFactory, and Sigstr for relationship intelligence.
Edison’s current enterprise solutions portfolio otherwise includes All Traffic Solutions, Blue Medora, Bricata, Emplify, eSentire, Giant Oak, ItemMaster, Jornaya, and Predata. Other notable exits in the sector include Archive Systems, Billtrust, InSoft, Logfire, Notable Solutions, Operative, Salsa Labs, Tangoe, Telarix, VirtualEdge, Uptivity, and VFA.
Located outside of Washington D.C., ExecVision is a venture-backed SaaS sales technology designed to help organizations understand what their best reps are doing differently and replicate that behavior across their entire organization. ExecVision was founded in 2015, by a team of seasoned sales training professionals with over 50 years of combined experience.
ExecVision uniquely empowers organizations to coach people efficiently at scale, improving rep performance, and driving human behavior change. ExecVision analyzes existing call recordings by leveraging AI to unlock key insights, flag coachable moments, interpret emotion, and compare outcomes. This provides managers with insights into what is and isn’t working on every call, and what differentiates top performers from everyone else.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.