SAN MATEO, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Scratchpad, Inc., pioneer and leader of the workspace for revenue teams, today announced it has secured $13 million in Series A funding led by Craft Ventures, with participation from Accel. The new funding will support the company’s rapid growth as it enters its next phase of maturation. This round follows a $3.6 million seed round led by Accel, with participation from Sound Ventures, Rahul Vohra (founder of Superhuman), Todd Goldberg (founder of Eventjoy), and other prominent angel investors. Scratchpad also announced today that David Sacks, founding COO of PayPal, founder/CEO of Yammer and founder/general partner at Craft Ventures will be joining the company’s Board of Directors.
Serial entrepreneurs Pouyan Salehi and Cyrus Karbassiyoon co-founded Scratchpad in 2019 after observing the challenges salespeople were experiencing in their day-to-day workflows. Account executives struggled with keeping Salesforce updated, managing their pipeline, and collaborating with their broader revenue team, especially during handoffs. Sales operations and managers also faced difficulties with enforcing process compliance with front line sales teams.
These challenges stem from revenue teams being forced into collaborating within docs, sheets, and apps that are all disconnected from the CRM system. As a result, sales reps succumb to using endless browser tabs and copying and pasting sales notes into slow-loading CRM systems, leading to incomplete or missing sales data. Furthermore, managers, sales operations teams, and enablement teams cannot enforce the process compliance necessary for sales teams to consistently meet their quotas.
“Sales organizations depend on a large amount of qualitative and quantitative data to complete a sale. Unfortunately, most of that data is spread across random applications, and rarely finds its way into Salesforce (CRM),'' said Pouyan Salehi, co-founder and CEO of Scratchpad. “Consequently, a hodgepodge of tools are hacked together for taking notes, managing pipelines, and forecasting. These inefficiencies exist in nearly every revenue team and cause friction between quota attainment and tedious data entry. This investment is recognition of our category creation, leadership, and unique capabilities to help companies improve their sales performance. It will help accelerate our ability to serve the world’s leading sales organizations.”
Customers use Scratchpad as a web app or install it as a Chrome plug-in, with the entire setup process taking less than 30 seconds. Scratchpad instantly connects to Salesforce and gives sales reps a fast and modern interface to interact with their sales data and workflows. Salesforce remains as the database while the Scratchpad workspace combines sales notes, spreadsheets, tasks, Kanban boards, search, collaboration, and process workflows into a single intuitive interface, revenue teams actually enjoy using.
“Nearly every profession has a workspace designed to optimize performance—artists have studios, chefs have kitchens, and scientists have labs,” adds Salehi. “Each dedicated workspace is tailored to the professional's craft. With Scratchpad, salespeople and revenue teams now have their own workspace designed for their craft—to consistently attain quota and master sales performance.”
Since inception, Scratchpad has amassed thousands of weekly active users who have made over two million Salesforce updates in the last 12 months. Scratchpad has an industry high Net Promoter Score (NPS) of 77. Top companies including Autodesk, Brex, Lacework, Segment, Sendoso, Snowflake, Talkdesk, Twilio, and Udemy rely on Scratchpad to improve workflow and sales outcomes.
“What got us most excited about Scratchpad is its viral spread within sales orgs,” said David Sacks, co-founder and general partner at Craft Ventures. “Once a rep starts using Scratchpad, two things tend to happen: it becomes a daily habit, and they share it with their teammates. This phenomenon of viral spread is rare and indicates a very strong product-market fit. While not at first apparent, we discovered that reps use Scratchpad almost four workdays every week, which is truly best-in-class. Now that the Scratchpad team has nailed early adoption, they are ready to scale, and we are excited to help them do that.”
What customers are saying
“Each member of my sales team starts their day opening Scratchpad, their calendar, and email in that order. Scratchpad is embedded into our day-to-day workflow and helps my account executives remain organized, ensure the right data flows into Salesforce, and manage their pipelines more effectively. With Scratchpad, all notes and fields are updated in minutes and handoffs across the organization are seamless. As a sales manager, I have total confidence our CRM data is accurate and current, and I don't have to worry about my reps spending hours each week with mind-numbing data entry. Instead, we can focus on what matters most, selling."
- Nick Casale, Director of Sales, Sendoso
"RevOps teams need to ensure data accuracy in Salesforce for every deal, at every stage of the sales cycle, across their entire global sales organization. Keeping this data up to date without burdening the sales team was a big focus for our organization. At Lacework, we found the solution we were looking for in Scratchpad, which removed the pain associated with updating records in Salesforce, provided the team with a workspace they liked, and made it super easy for them to keep their forecast updated. The result has been improved forecast accuracy, a higher level of data fidelity, and insights into where our sales management need to focus their coaching and sales enablement efforts. It's been a win for both Sales and RevOps. Sales is able to reduce their administrative workload, save time, and stay better organized, while the RevOps team is able to make smarter decisions knowing the data they are basing them on is up to date and accurate.”
- Palen Schwab, Vice President of Revenue Ops, Lacework
Tweet this: .@scratchpad_ai announces $13M in Series A #funding. Learn how the first-of-its-kind workspace for revenue teams is changing the game for #SalesTeams everywhere: https://bit.ly/36GDPbx
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About Scratchpad
Scratchpad is a workspace for revenue teams combining sales notes, spreadsheets, tasks, Kanban boards, search, collaboration, and sales process compliance in a single intuitive interface. In less than 30 seconds, revenue teams can set up Scratchpad and start increasing sales data hygiene to consistently achieve quota attainment. Founded in 2019, Scratchpad is a privately held company headquartered in San Mateo, CA and backed by Accel, Craft Ventures, and Sound Ventures. To learn more, visit http://www.scratchpad.com.
Media Contact
Tanya Carlsson
Offleash PR for Scratchpad
scratchpad@offleashpr.com