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Drift Announces Strategic Investment from Vista Equity Partners; Partnership Will Help Customers Accelerate Revenue via B2B Conversational Commerce
FREMONT, CA: Drift, the leader in Conversational Commerce for B2B, has declared a strategic partnership with Vista Equity Partners ("Vista)," a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses. Vista's strategic growth investment in Drift will contribute to the company's mission of making business purchases more frictionless, enjoyable, and human.
The mission of Drift has always been to reimagine the B2B purchasing experience. Drift's 50,000 customers are now bringing their sales and marketing teams together on a single platform to deliver personalized conversations that increase trust and revenue. Drift will continue to invest in the achievement of its customers while expanding its product leadership, scaling globally, as well as bringing Conversational Commerce to more B2B businesses in collaboration with Vista.
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Drift introduced Conversational Marketing five years ago as a way to assist marketers in utilizing the digital experience for lead generation. The company immediately learned that removing the friction between buyers and sellers had a much larger impact than simply generating leads – it accelerated revenue. Drift widened its focus to provide a robust platform that includes Conversational Sales, integrating chat, email, video, and artificial intelligence to power conversations not only on the customers' website but also with the sales team.
Expectations for B2B buying experiences have converged in recent years to mirror those for B2C purchases. In fact, at least 80 percent of B2B buyers want and expect a similar buying experience to that of a B2C customer (Lumoa, 2019). Furthermore, the pandemic increased the urgency of changing how businesses bring in revenue, emphasizing the importance of keeping conversations at the center of commerce. By making the customer side of the buying process easier, Drift's customers generated $5 billion in pipeline value to boost future deals in 2021 alone – demonstrating that putting customers first in the sales and marketing cycle is a winning strategy.
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