#cambric collection 2014

[un-enfant-immature]

Outreach nabs $50M at a $1.33B valuation for software that helps with sales engagement

CRM software has become a critical piece of IT when it comes to getting business done, and today a startup focusing on one specific aspect of that stack — sales automation — is announcing a growth round of funding underscoring its own momentum. Outreach, which has built a popular suite of tools used by salespeople to help identify and reach out to prospects and improve their relationships en route to closing deals, has raised $50 million in a Series F round of funding that values the company at $1.33 billion. 

The funding will be used to continue expanding geographically — headquartered in Seattle, Outreach also has an office in London and wants to do more in Europe and eventually Asia — as well as to invest in product development.

The platform today essentially integrates with a company’s existing CRM, be it Salesforce, or Microsoft’s, or Kustomer, or something else — and provides an SaaS-based set of tools for helping to source and track meetings, have to-hand information on sales targets, and a communications manager that helps with outreach calls and other communication in real-time. It will be investing in more AI around the product, such as its newest product Kaia (an acronym for “knowledge AI assistant”), and it has also hired a new CFO, Melissa Fisher, from Qualys, possibly a sign of where it hopes to go next as a business.

Sands Capital is leading the round, Outreach noted, with “strong participation” also Salesforce Ventures. Other investors include Operator Collective and repeat backers Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield, and Sapphire Ventures. The company has raised $289 million to date, and for some more context, this is definitely an upround: Outreach was last valued at $1.1 billion in its previous round in April 2019.

The funding comes on the heels of strong growth for the company: more than 4,000 businesses now use its tools, including Adobe, Tableau, DoorDash, Splunk, DocuSign, and SAP, making Outreach the biggest player in a field that also includes Salesloft (which also raised a significant round last year on the heels of Outreach’s), Clari, Chorus.ai, Gong, Conversica, and Afiniti. Its sweet spot has been working with technology-led businesses and that is a market that is continuing to expand, even as so much more of the economy has contracted in recent months. 

“You are seeing a cambric explosion of B2B startups happening everywhere,” Manny Medina, CEO and co-founder of Outreach, said in a phone interview this week. “It means that sales roles are being created as we speak.” And that translates to a growing pool of potential customers for Outreach.

It wasn’t always this way.

When Outreach was first founded in 2011 in Seattle, it wasn’t a sales automation company. It was a recruitment startup called GroupTalent working on software to help source and hire talent, aimed at tech companies. That business was rolling along, until it wasn’t: it hit a wall in 2015 and the startup saw it had only two months of runway left, with little hope of raising more. 

“We were not hitting our stride, and growth was hard. We didn’t make the numbers in 2014 and then had two months of cash left and no prospects of raising more,” Medina recalled. “So I sat down with my co-founders,” — Gordon Hempton, Andrew Kinzer and Wes Hather, none of whom are at the company anymore — “and we decided to sell our way out of it. We thought that if we generated more meetings we could gain more opportunities to try to sell our recruitment software.

“So we built the engine to do that, and we saw that we were getting 40% reply rates to our own outreaching emails. It was so successful we had a 10x increase in productivity. But we ran out of sales capacity, so we started selling the meetings we had managed to secure with potential talent directly to the tech companies themselves, who would have become their employers.”

That quickly tipped over into a business opportunity of its own. “Companies were saying to us, ‘I don’t want to buy the recruitment software. I need that sales engine!” The company never looked back, and changed its name to work for the pivot.

Fast forward to 2020, and times are challenging in a completely different way, defined as we are by a global health pandemic that affects what we do every day, where we go, how we work, how we interact with people, and much more. 

Medina says that impact of the novel coronavirus has been a significant one for the company and its customers, in part because it fits well with two main types of usage cases that have emerged in the world of sales in the time of COVID-19.

“Older sellers now working from home are accomplished and don’t need to be babysat,” he said, but added but they can’t rely on their traditional touchpoints “like meetings, dinners, and bar mitzvahs” anymore to seal deals. “They don’t have the tools to get over the line. So our product is being called in to help them.”

Another group is at the other end of the spectrum, he said, are “younger and less experienced salespeople who don’t have the physical environment [many live in smaller places with roommates] nor experience to sell well alone. For them it’s been challenging not to come into an office because especially in smaller companies, they rely on each other to train, to listen to others on calls to learn how to sell.” That’s the other scenario where Outreach is finding  up for a job and come into office.

Although a lot of sales tools are essentially taking on some of the more mundane jobs of salespeople, Medina doesn’t believe that we’re anywhere close to replacing the humans, even at this time when we’re seeing so many layoffs.

“We are at the early innings,” he said. “There are 6.8 million sales people and we only have north of 100,000 users, not even 2% of the market. There may be a redefinition of the role, but not a reduction.”

[cakane463]

🐣 #RubysEasterHat – April 1883 #Easter #GodeysLadysBook

Ruby’s “Easter Hat”

“I wish I was dead, so there;” and Ruby Brown stood the picture of lovely despair, gazing down at a yellow mass at her feet, consisting of six dozen crushed eggs. Poor Ruby had been a whole month saving and hoarding these treasures which were to play an important part in the purchase of a lovely “Easter bonnit,” Aunt Rushy had contemptuously called it, when Ruby had said in a pleading tone: “But auntie, all the girls are going to have pretty new hats to wear Easter Sunday.” “Easter bonnits, indeed,” snapped Aunt Rushy, “better be thinkin’ of the good Lord, and how he riz on that day, then hey their minds on bonnits.” “But auntie—”“Now, no buts, Ruby Brown; girls in my time wusn’t thinkin’ eternally ’bout bonnits and gimcracks; and Easter Sunday wasn’t made a show day for bonnits, either.” “If I could have the eggs, auntie,” pleaded Ruby, ignoring her last remarks.“Well, take ’em; I don’t, know as I care, if you can save enuff ‘tween this and then. You’ll hey to hey a bonnit eny how shortly after Easter.” Ruby ran joyfully out into the coop to gather the first installment, after giving Aunt Rushy an affectionate little hug.“That child always will get the best of me long as grass grows and water runs,” smiled the spinster aunt, grimly—who had been mother and aunt for many years, nearly eighteen now, since her dearest and youngest sister had died, putting baby Ruby into Jerusha’s arms, murmuring “Be kind to her, love her for my sake,” and had died; and the young girl well repaid the care and grim sort of love lavished upon her. No one knew what ever had become of gay, wild, dissipated Will Brown, Ruby’s father, whom people said had once been Jerusha’s lover, and who had deserted her for the younger sister, pretty Helen.The eventful morning had come on which Ruby’s eggs were to be disposed of. Blithely and gayly she started forth, a neat willow basket on her arm, her eyes shining like twin stars, and cheeks rivaling summer roses. A stray robin chirped dubiously overhead in the budding but leafless trees, and visions of the “Easter hat” floated before Ruby’s vision, with which the young minister who had just been settled at the “Caworth village” church, should be ensnared; for all the girls, Aunt Rushy said, “wus casting sheep’s eyes that way. Ruby tripped along in the crisp March air, satisfied with herself and the whole world, when alas! for human hopes and joys how fleeting, Ruby caught her foot in some tangled weeds, and fell headlong upon her precious basket of eggs, and for a moment felt as if the whole world had crushed all the joy and happiness out of her young heart and life. In her great sorrow she gave vent to the ejaculation, “I wish I was dead,” as she slowly arose from the ruins of all her (eggs) hopes.

“Can I be of any assistance?” asked some one behind her.

Ruby started and looked around, to encounter the amused smile on the young minister’s face.

“I hardly think any one can remedy this disaster,” stammered Ruby, dismally viewing the mass at their feet.

“Eggsactly,” laughed Mr. Howard.

“Don’t laugh,” said Ruby, suddenly bursting into tears.

“Don’t cry, I beg. I will try not to laugh,” he said anxiously.

“How foolish I am,” said Ruby, bravely trying to smile, “but I have lost my Easter hat.”

“Your Easter hat?” he asked, a little nonplussed.

“Yes. With those eggs I should have bought it,” sighed Ruby.

“Hem! Well, is it absolutely necessary to have Easter hats, Miss Brown?”

“Oh no. Still, every one does, you know,” said Ruby, gravely.

“No, I did not know it before. Do you not think you could enjoy that grandest and loveliest of anniversaries without a new hat, Miss Brown?” he asked, looking into the sweet face searchingly.

“Oh, yes I could,” replied Ruby, blushing rosily. “I think I have been a little vain, and I am punished this way,” and Ruby laughed quite merrily.

“Not one left to tell the tale,” he answered, joining in her laughter.

“Only on my dress and mantle,” laughingly said Ruby; “that will tell all.”

“Allow me to remove a few flecks from your hair,” and he bent forward with a dainty cambric handkerchief, removing the golden spots from the soft, curling brown hair; both faces had taken on an added hue of pink.

“May I walk back with you?” he asked a little eagerly, as she turned to go home, after their united efforts to clean the basket, which they partially succeeded in doing. Permission was shyly given, and soon they were chatting like old friends, and Ruth was surprised that she felt no greater disappointment in the loss of her “Easter hat.”

“Well I swun if here doesn’t come the minister ‘long with Ruby,” ejaculated Aunt Jerusha, peering out of the window. “But—heavings and airth, what is that yaller all over the front of your

dress, Ruby? How de do, Mister Howard: walk in. What on airth—”

“Oh Auntie, its my ‘Easter hat,’ cried Ruby, almost hysterically, ‘look at, me! Only for Mr. Howard coming to my rescue, I don’t know what would have, become of me.”

“Well I never! such a child,” gasped Aunt Rushy, shocked beyond measure at Ruby’s appearance before the new minister.

How was she to know that he was thinking she was the loveliest and most sensible girl he had ever met?

Ruby went to church “Easter Sunday” with her winter’s hat, and the Rev. Clinton Howard thought the face so sweet and good beneath it, that all the new “Easter hats” sank into insignificance in contrast; but Ruby looked around at the pretty sprays of rose-buds, mignonette, violets, and pansies, and could not help but feel a little pang of envy. How could she know that the young minister was not admiring the pretty faces so sweetly adorned? And how could she know that while the organ sent forth its grandest music, and the anthem, “He has arisen from the dead,” swelled from the lips and hearts of that Christian congregation, that the thought had come to him (and was not an irreligious one) that the Lord had ordained Ruby Brown for a minister’s wife, and that another Easter she should wear an “Easter hat,” and it should be bridal white.

So Ruby’s “Easter hat” was worn the very next “Easter,” and all the good folks said never a sweeter bride blushed beneath an “Easter hat,” than the minister’s young wife, née Ruby Brown, now Mrs. Clinton Howard. Even Aunt Rushy had indulged in the fashion for once, and came out in an astonishing beflowered hat, and she explained in her earnest emphatic way: “I don’t know but it is a sort of a hangin’ out of a signal, of how happy you air, by decking out in posies, that our blessed Saviour riz to glory that day; never quite looked at it in that air light before, come to think of it. I don’t see how I ever wanted to put down sich kind of rejoicing. Ruby does look like a picture in hem, and the eggs after all did get her ‘Easter hat,’ so Clinton says.”

Godey’s Lady’s Book— Louis Antoine Godey began publishing Godey’s Lady’s Book in 1830. He designed his monthly magazine specifically to attract the growing audience of literate American women. The magazine was intended to entertain, inform, and educate the women of America.

Learn more about Godey’s Lady’s Book (1830–1898)

Source

Collection: Godey’s Lady’s Book

Publication: Godey’s Lady’s Book

Date: April, 1883

Title: Ruby’s Easter Hat

Location: Philadelphia, Pennsylvania

https://www.accessible-archives.com/2014/04/rubys-easter-hat-april-1883/

[newtshirtcom]

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Here are some pictures for you from this collection…

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[newtshirtcom]

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