The startup caters to sales and marketing teams with data on more than 270 million B2B connections. Credit: Christina @ wocintechchat.com/Unsplash.

Apollo.io, a US-based startup offering sales technology, has raised $100m in a Series D funding round led by Bain Capital Ventures.

The technology vendor’s existing backers Sequoia Capital, Nexus Venture Partners, and Tribe Capital also participated in the round.

Apollo.io said the funding, which follows its $110m Series C round in March 2022, takes its total funding to around $250m and nearly doubles its valuation to $1.6bn.

Set up in 2015, the startup caters to sales and marketing teams with data on more than 270 million B2B connections.

It also gives them the tools they need to implement their go-to-market strategy, create pipeline, close deals, and boost team productivity using artificial intelligence.

The company plans to use the proceeds to double its team size to support the development of advanced sales technologies.

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By 2025, Apollo.io hopes to have 1,000 team members working in engineering, marketing and sales, design, product, legal, and human resources.

Apollo co-founder and CEO Tim Zheng said: “Our investors, led by Bain Capital Ventures, bring a new level of sophistication to the table that will accelerate Apollo.io’s journey from startup to scaleup.

“We look forward to expanding our offering for sales professionals to effectively target, engage, and convert buyers into long-lasting customers.”

Bain Capital Ventures partner Merritt Hummer said: “Tim and the Apollo team have built a remarkable B2B platform that we believe will redefine the next generation of go-to-market sales.

“Once companies experience Apollo’s buyer database coupled with powerful automation tools for lead generation and beyond, they are hooked.”