Draper Esprit Portfolio Company Datahug to be Acquired for $13m by Callidus Software Inc.
Draper Esprit (“the Company”), a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, announces that NASDAQ listed Callidus Software Inc. (NASDAQ: CALD), a global leader in cloud-based sales, marketing, learning and customer experience solutions, has acquired portfolio company, Datahug for a total consideration of $13 million cash.
The deal values Draper Esprit’s total stake in Datahug at $6 million. The investment in Datahug was held across a number of vehicles managed by the Company. Datahug, headquartered in Dublin, Ireland is a SaaS predictive forecasting and sales analytics company.
Brian Caulfield, Draper Esprit Managing Director said: “The use of predictive analytics to enhance sales efficiency and improve forecasting is expanding rapidly. Datahug has the leading product in that space. CallidusCloud has millions of sales people in their cloud that will be able to take advantage of the powerful analytics and insights Datahug has to offer. I would like to congratulate the CEO, Ray Smith, his co-founder Connor Murphy, and the Datahug team.”
“There are more than 50 million companies in the world. They all want better sales forecasting. Datahug’s unique, patented, technology delivers rich, predictive analysis of sales pipelines in a visually stunning way. Being able to better predict the outcomes of sales cycles and identify the right sales opportunities means big value for our Lead to Money customers,” said Leslie Stretch, president and CEO, CallidusCloud. “Their fast and easy to use solution leverages CRM, Commissions, CPQ, Service and Customer Feedback data sources to bring forecasting to life in a practical way that is easy to understand and visualise.”
We first invested back in 2014 and have helped grow the business working closely with the management team and other investors.
Datahug was founded in 2010 with the goal of breaking down barriers within businesses in order to better share and leverage business relationships. Launched at The Web Summit in 2010, Europe’s largest tech conference, Datahug won the Spark of Genius Award launching their private networking tool based on corporate email data. In the years that followed, the company made incredible strides working with early customers to understand the predictable elements to sales. By applying cutting-edge data science of CRM data in conjunction with the relationship intelligence, Datahug unlocked valuable signals to highlight momentum during the art of selling. Now with offices in San Francisco and Dublin, Datahug arms the world’s sales teams with the power of their own data.
Source: Draper Espirit Press Release