Apollo to invest ₹232 crore in India over next two years
PremiumApollo revealed its first office space in India, in Bengaluru, to house its R&D team.
Over the next two years, Apollo expects to invest ₹232 crore ($30 million) in India. The B2B sales intelligence and engagement platform revealed its first office space in India, located in Bengaluru, to house its R&D team, as a part of its recent series-C fundraising of ₹852 crore ($110 million) led by Sequoia Capital. In the following months, the company will also hire around 100 research and development (R&D) engineers.
"Our recent Series C funding has enabled us to expand our footprint in India with our first R&D office space set to be located at Bengaluru after having worked remotely through the pandemic.
"We look forward to scaling our India team rapidly. It will play an important role in bolstering our core R&D team, our business growth and global expansion," Apollo Co-Founder and CEO Tim Zheng said in a statement.
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Apollo claims to have over 16,000 clients globally.
“We had built a great product but it was hard to grow our user base. We got stuck at around 5,000 users and although we bought a lot of sales tools, we were not moving the needle. So we decided to build our own sales prospecting tool and went from 5,000 to 150,000 users in just 5 weeks. We ended up having over a million users at BrainGenie just before I started Apollo. That’s how Apollo.io was born," CEO & founder Tim Zheng says on the company website.
"Apollo's vision is to give its customers the most powerful and intelligent GTM platform in the industry, so they can reach their full market potential," said Tim Zheng.
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Apollo raised $32 million in a Series B investment round led by Tribe Capital in November 2021, with NewView Capital and current investor Nexus Venture Partners also participating. The company claims to have grown its user base by more than 200 percent in the 12 months leading up to the fundraise and remained profitable for more than 18 months.