SAVO Secures $35M In Funding For Product Development, Global Expansion

SAVO Group announced it has received $35 million in its latest venture funding round, bringing the total funding to $84 million to-date.

The round of funding, led by Goldman Sachs & Co., will be used to expand SAVO’s global operations and further develop its suite of sales and marketing applications. Two new board members were also announced alongside the funding results: Michael McGinn and Holger Staude from Goldman Sachs’ Private Capital Investing group.

The company has experienced rapid growth over the past five months, including:

• Vast increase in new customer signings;
• The acquisition of StoryQuest, Inc., a digital postcard technology company; and
• Several new solutions were launched, such as Sales Onboarding Pro, Sales Process Pro and SAVO Inspire.

“By providing reps with solutions tailored to address daily productivity challenges, companies are able to drive more effective and predictable sales cycles, and generate greater adoption of other investments related to sales training, new product introduction and consistent message delivery,” said Mark O’Connell, president and CEO of SAVO. "Goldman Sachs has a proven track record of funding growing market leaders and we’re excited to work with them."

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