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Business intelligence marketplace G2 (formerly known as G2 Crowd) raised $ 157 million in a Series D funding round.
Founded in Chicago in 2012, G2 is probably best known as “Yelp for Business Software,” a public portal for collecting information, comments, and reviews spanning thousands of popular apps. This includes the ability to compare and contrast similar software before making a purchase decision.
G2 co-founder and CEO Godard Abel said a recent survey by the company found that 94% of business software buyers “don’t trust sellers and marketers,” a statistic that could probably apply to just about any vertical software in the business and consumer spheres.
“G2 brings trust and transparency to the enterprise software purchasing process,” Abel told VentureBeat. “Software buyers now rely on trusted peer reviews for everything they buy as consumers – this is increasingly true for B2B software purchases. “
Today, G2 claims more than 1.3 million reviews and ratings, with 60 million business software buyers visiting its platform each year.
Show me the data
On the other hand, G2 allows paid companies such as Adobe, Autodesk, HubSpot, Salesforce, and Zoom to manage their product profile online and glean information, such as buyer’s intent, which makes them feel better. helps identify potential customers and target them with tailored campaigns at the right time. This is made possible by integrations with LinkedIn, Salesforce, HubSpot, Terminus, Salesloft and Outreach.
Internally, companies can also use G2 Track – the result of the company’s 2018 acquisition of Siftery – to monitor and manage their SaaS spend, with granular analytics detailing how employees and departments use each software, allowing businesses to reduce their spending on underused products.
It also allows them to track all of their supplier contracts in a centralized hub, which can help identify duplicate SaaS subscriptions taken out by different teams.
G2 had previously raised around $ 100 million, and its latest cash injection was led by Permira’s growth fund, with participation from HubSpot Ventures, Salesforce Ventures, Accel, Emergence and IVP. The company also confirmed that it is now valued at over $ 1 billion.
While online reviews have been around since the advent of the web, large businesses looking for software information and recommendations to make purchasing decisions have not always been served the same way as consumers. looking for the best restaurants or hotels.
Traditionally, businesses have often had to pay to access third-party research and reports (e.g. from Gartner), which G2 helps get around with real-time reviews that can be filtered and segmented by business size. This means that a potential business buyer can choose to only view reviews from other business buyers – this is important because businesses can have totally different experiences depending on their needs and use cases.
“Unlike analyst models, G2’s platform provides real-time data from real and verified software users,” said Abel. “You don’t have to buy tens of thousands of dollars to access research or pay thousands of dollars to access analysts.”
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