Detroit-Based LevelEleven Secures New Primary Investor
-Enables Enterprise SaaS Company to Advance Leadership Position in Sales Activity Management-
DETROIT, Aug. 22, 2016 /PRNewswire/ -- LevelEleven, a leader in sales activity management, announced today that The Ascent Group, a Detroit-based company, has made a significant investment in LevelEleven making it the largest single investor in the company. The new investment brings strong enterprise software experience into the operations of the business, and provides the financial stability to continue its leadership position in the emerging Sales Activity Management category.
The Ascent Group (Ascent) was formed in 2016 after its founders successfully merged their enterprise software company New World Systems with Tyler Technologies in a transaction that valued the company at $670 million. Troy, Michigan-based New World grew to become one of the largest software companies serving state and local governments, with over $130 million in revenue and 500 employees.
"We spent months searching the country for the most promising software companies and we are pleased that our first investment is in Detroit. We selected LevelEleven because of its strong team, impressive client roster, and their ability to help other companies maximize their revenue potential and improve their ROI from sales technologies like CRM," says Larry Leinweber, President & Founder of The Ascent Group and the Founder & Former-CEO of New World Systems. "Any good business is built upon strong sales fundamentals, and we see LevelEleven becoming a must-have solution to run a successful sales team which means there is a substantial market for us to pursue."
Ascent's investments focus specifically on fast growing software companies with $3 - $30 million in revenue, an established customer base with recurring revenue, substantial growth potential, and a proven team. In addition to their financial backing, Ascent will become actively involved as owners and operators of LevelEleven. They will join the existing management team and an impressive investor roster that includes Detroit Venture Partners, NCT Ventures, and Salesforce Ventures.
"I'm thrilled to take what we've already built and layer on a strong operational and financial partner to give us the solid footing to build a truly great and lasting company," said LevelEleven Founder and CEO, Bob Marsh. "The investment by Ascent, which represents the largest single investment in the company to date, allows us to completely focus on helping our customers make the shift to a more metrics driven sales organization, and continue building out our software platform."
LevelEleven was founded in October of 2012, and the company has grown rapidly since. Its SaaS solution helps sales leaders take a metrics-driven approach to keep salespeople engaged in the activities that matter and leads to closing more business. Customers experience instant ROI, like Paycor, who increased new business meetings scheduled per salesperson by 45-percent, and reduced new hire onboarding time from 6-months to 3-months, by creating individual and team visibility around their performance. Earlier this month, the company announced new capabilities including a Weekly Sales Meeting and One-on-One Scorecard, and an Early Warning System to proactively alert salespeople and sales managers when a key activity is lagging behind which could impact future sales results.
About LevelEleven
LevelEleven is a sales activity management system that accelerates the return on your investment in Salesforce and your sales team. Personalized scorecards allow VP's of Sales to engage salespeople in the behaviors that matter and build a culture of performance. Through a metrics-driven approach, modern sales leaders unlock maximum revenue potential for immediate ROI. LevelEleven has 4.9 out of 5 stars on Salesforce's AppExchange and works with companies including EMC, Staples, Verizon, Duo Security and Comcast. Learn more at http://leveleleven.com.
SOURCE LevelEleven
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