204.63.40.12

Permira leads series G round for $3bn Seismic, JMI Equity and Lightspeed also invest

157

Global buyout house Permira has led a $170m series G round funding for sales enablement company Seismic to give it a $3bn valuation.

JMI Equity, Lightspeed Venture Partners, Jackson Square Ventures, Ameriprise and T Rowe Price Associates also participated in the round.

 

Seismic provides coaching services for sellers to improve behaviour and skills to enhance sales. It is bolting on training app Lessonly simultaneously with the closing of the funding round to provide sales and marketing content alongside learning programs, practices scenarios, and coaching plans for sales training.

UK-headquartered Permira was reportedly back in the fundraising market eyeing about $2.5bn for its second growth fund in June. It is said that the firm is hoping Fund II will be almost 50% larger than its predecessor Fund I.

Permira collected $1.7bn for the final close of its debut Permira Growth Opportunities fund two years ago.

It also collected €11bn for its most recent flagship buyout fund, Permira VII, towards the end of 2019. Reports began emerging in May that the firm was already prepping for its Fund VIII raise, which could collect more than $15bn. That vehicle is focused on consumer, healthcare, technology and services businesses.

In its recent deals, Permira agreed to acquire a €400m majority stake in property brokerage company Engel & Völkers earlier in the month, leading to an enterprise value of €700m.

 It has also reportedly bid on $3.8bn-valued US medical device maker LivaNova in March in an attempt to take the Nasdaq-listed company private.

Copyright © 2021 AltAssets

Get the latest PE News & Research delivered to your inbox every morning