Octiv Secures Strategic Investment from GE Ventures
Investment will help accelerate strategic enhancements to the Octiv Enterprise Sales Productivity Platform
INDIANAPOLIS – (Sept. 8, 2016) – Octiv, a leading provider of sales productivity solutions, announced today that it has secured a strategic investment from GE Ventures, the venture capital arm of General Electric. The investment, part of a round totalling $4.75 million with participation from Greycroft Partners, High Alpha Capital and Allos Partners, will enable Octiv to expand its product capabilities, strengthen its engineering team, and refine its go-to-market strategy.
The Octiv sales productivity platform helps progressive sales and marketing teams improve how sales documents and assets are created, distributed and tracked. Octiv leverages data from systems such as CRM, CPQ and ERP to automate document workflows. This enables users to gain valuable visibility into buyer behavior and interactions with sales assets and documents.
“Our latest partnership with GE is proof that workflow management in the cloud has become a must-have for enterprise organizations that need scaleable solutions,” said Dustin Sapp, co-founder and chief executive officer at Octiv. “This investment deepens our relationship with GE, and will help us to accelerate development priorities for our enterprise clients.”
“At GE Ventures, we understand that the demands of today’s global marketplace require the enterprise to operate at unprecedented speed, scale, and quality. Historically, manual and offline workflows need to be digitized, automated and connected. And the ability to collaborate is also critical,” said Lisa Coca, Managing Director of Commercial Development at GE Ventures. “Our investment positions the Octiv team to significantly streamline enterprise sales and workflow processes for companies around the world.”
Enterprise teams within GE are already experiencing the benefits of Octiv. “Working with Octiv has been critical to our new digital commerce platform – driving productivity and growth for the business,” said Drew Marquardt, global commercial tools leader for GE Industrial Solutions. “They’re a partner in the solution, not just a vendor or a product.”
The announcement of the investment from GE Ventures follows news of the company’s reimagined brand identity in July of this year, as part of an expansion of offerings to address more of the sales process and gain valuable visibility into buyer behavior and interactions with sales assets and documents — all within one platform.
Octiv provides a document workflows platform designed to create efficiencies in generating documents like proposals, quotes, contracts, presentations and more. Octiv integrates data from back-office systems to streamline workflows, save time and accelerate the document creation and delivery process. Founded in 2010, Octiv services more than 400 organizations including enterprises such as General Electric and Siemens, and high-growth companies such as Lindamood-Bell and G/O Digital. To learn more, visit octiv.com.