Software firm Salesloft is raising new funds at a valuation of $ 2.3 billion.

Sales-support software publisher Salesloft Inc. on Thursday announced that it had raised funds from private equity firm Vista Equity Partners for a valuation of $ 2.3 billion, giving it a stake majority, as the company benefits from the recent boom in the enterprise software sector.

Salesloft, which has grown over 125% in its European market, said it would use the funds raised to expand beyond North America and especially in Europe.

Founded in 2011, Salesloft counts IBM, Shopify and Cisco among its customers and offers an AI-driven platform that integrates communication channels and workflows and also provides analytics and insights to optimize sales.

Equity financing in the software industry is booming thanks to rapid digitization. Earlier in December, enterprise software maker Genesys raised funds at a valuation of $ 21 billion.

The tech-focused investment company Vista Equity, which manages more than $ 86 billion in assets, has itself completed more than 60 transactions in this area this year. Vista will also join the Salesloft board of directors as part of the transaction.

The financing transaction was first reported by the Wall Bourse Journal. (Report by Chavi Mehta and Shivani Tanna Bengaluru; edited by Vinay Dwivedi)

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