Noted tech entrepreneur Ryan Westwood and his co-founders are embarking on their next venture: to push the revenue operations (RevOps) industry forward with the successful completion of a $34 million seed round and acquisition of RevOps software platform Fullcast.
Fullcast is an end-to-end RevOps platform that allows companies to design, manage and track the performance of their revenue generating teams. A highly differentiated product with excellent ratings on software review platform G2, Fullcast is poised for significant growth.
Before joining Fullcast, Westwood co-founded and served as the CEO of Simplus, which was acquired by Infosys for $250 million. He has successfully led several technology companies from seed stage through acquisition. Now, Westwood is moving into RevOps, an industry that is projected to reach a valuation of $18 billion over the next 10 years.
The Fullcast seed round was led by Epic Ventures, accompanied by investors on both coasts preferred by the founding team based on working with them in prior ventures. These include Companyon Ventures in Boston, Firsthand Alliance in New York City, and True Blue Partners and Sepio Capital in the Bay Area. The $34 million seed round includes $4 million in debt from Silicon Valley Bank.
“We will become the first integrated RevOps platform for the entire Customer 360 journey,” said Westwood, who was named Ernst & Young Entrepreneur of the Year in 2021, Utah Business CEO of the Year in 2018, and one of the top CEOs in America for Women by Comparably in 2021. “As an industry, RevOps is expecting a decade of rapid growth. We feel now is the perfect time to become fully invested in pushing the industry forward and tapping into that tremendous growth potential. We’ve been fortunate enough to build a few successful businesses, and we’re looking forward to doing it again in the revenue operations space. Our investors share our optimism to make that happen.”
Kent Madsen, co-founder and managing partner of Epic Ventures, describes Westwood’s track record, the incoming leadership team at Fullcast, outstanding product and current conditions in the territory management industry as an exciting combination for another successful venture. “Companies spend billions each year cobbling sales and marketing tools together into jimmy-rigged go-to-market tech stacks that don’t really work. Fullcast is an excellent go-to-market sales platform that integrates both planning and execution functions of the sales motion, giving us confidence it has an unlimited ceiling for immediate and long-term growth in this space,” said Madsen.
Westwood has assembled an accomplished leadership team at Fullcast, with a C Suite spearheaded by leaders who worked with him at Simplus. Joining Westwood as co-founders at the new Fullcast are Chief Operating Officer Isaac Westwood, Chief Marketing Officer Amy Cook and Chief Commercial Officer Lance Evanson. The company’s co-founders are personally investing $8 million in the round.
“Lance, Isaac and Amy were intrinsic to the success of Simplus, which we grew to serve four continents organically and through seven acquisitions in a three-year period before finally being acquired by Infosys,” Westwood said. “I couldn’t imagine embarking on this Fullcast journey without this team’s expertise and enthusiasm, as well as the support of our lead investor, Kent Madsen. Nobody believes in entrepreneurs more than Kent does, and it shows in Kent and Nick Efstratis’s track record as VCs at Epic. I’m also looking forward to partnering with original Fullcast co-founders Dharmesh and Bala, who bring technical prowess and an obsession for the customer.”
Dharmesh Singh and Bala Balabaskaran remain onboard as Chief Customer Officer and Chief Technology Officer, respectively, to maintain full continuity moving forward. Singh and Balabaskaran worked together previously at Salesforce, where Balabaskaran led the first effort to automate planning and operations activities with exceptional results, allowing the company to add three times the sales team without requiring additional operations support.
Fullcast enables companies to build better territories and win more deals through the following benefits:
- Maximize Revenue: Create territories in days, not months. Prevent revenue from being lost while reps wait for territory assignments.
- Optimize Revenue: Optimize territory management by products, regions and industries. Optimize revenue and territory sizes and better retain sales reps.
- Improve Productivity: Make changes in real time when sales reps or managers attrit or have a role change. Maximize productivity by quickly reallocating quotas and territories.
- Increase Revenue: Boost revenue and sales productivity with Copilot for RevOps® by obtaining actionable insights and recommendations powered by AI.
For more information or to request an interview, please contact Amy Cook at amy@fullcast.com.
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