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MindTickle eyes unicorn club; set to conclude SoftBank-led round at $1.1 bn valuation

SoftBank had last year pumped in $100 million in MindTickle at a valuation of $500 million. The tech-focused investor has also invested in banking technology platform Zeta and social commerce startup Meesho

(From left) MindTickele's Chief Product Officer Nishant Mungali, CEO Krishna Depura and CTO Deepak Diwakar. (Image: Company Website) (From left) MindTickele's Chief Product Officer Nishant Mungali, CEO Krishna Depura and CTO Deepak Diwakar. (Image: Company Website)

SaaS startup MindTickle is close to concluding a $100 million funding round from tech-focussed investors SoftBank Vision Fund, which will likely take the former's valuation to $1.1 billion.

With this deal, MindTickle will be the latest entrant to the coveted unicorn club of private companies with a valuation of more than a billion dollars.

A total of 16 startups gained unicorn status in 2021, taking India's tally to 50, and with MindTickle's addition, the number will go up to 17 so far this year.

Also Read: Zeta raises $250 million from SoftBank Vision Fund, turns unicorn

SoftBank had last year pumped in $100 million in MindTickle at a valuation of $500 million. The tech-focused investor has also invested in banking technology platform Zeta and social commerce startup Meesho.

Founded in 2011, MindTickle helps firms build sales capabilities comprising training, boarding, working on every single aspect of sales, practising and upgrading it with the help of technology.

The latest deal, if it comes through, will give a significant boost to the company's valuation as against its previous funding round in November last year when it was valued at $500 million.

Also Read: Meesho becomes latest entrant to Indian unicorn club with $300 million fundraise

Qualcomm Ventures, Canaan, Norwest Venture Partners, and NewView Capital are among MindTickle's investors.

The company, which initially serviced mid-size and large corporations in the tech domain, now boasts of clients across industries such as pharma, oil and gas, financial services, and medical devices.