We are excited to announce that Momentum has entered into a definitive agreement to be acquired by Salesforce.  Momentum is an emerging leader in the rapidly growing  AI-native Customer Intelligence and Observability space.  Over the last 5 years, call and meeting recordings became standard practice in the Enterprise, with the promise of improving sales productivity and much more.  The reality turned out to be much more difficult, as the prospect of reviewing thousands of hours of video became a “needle in the haystack” exercise.  Enter AI.

Santi Ordoñez, Ashley Wilson, and Moiz Virani – the founders of Momentum – realized the new hidden gold that was accumulating in the enterprise.  Leveraging their deeply technical backgrounds, they built a purpose built data infrastructure to index all this information for the AI era.  The product offered profound insights from all conversational data, from forecast and pipeline intelligence to competitive and product insights to customer service empathy.  Customers could flexibly define automations and watch Momentum’s AI infrastructure offer insights they could only dream of.  This led to rapid adoption amongst some of the most demanding and fastest growing customers in the world. With such rapid growth and enterprise scale adoption, it is not surprising they caught the attention of Salesforce.

FirstMark’s journey with Momentum started a little over 18 months ago when we led their Series A.  We had been looking furiously to find companies that could successfully and deterministically deploy AI against the demanding rigor of larger enterprises.  In Santi and Moiz, we found deeply technical founders who had the foresight that context, data infrastructure, specialization and deep integrations were the winning ingredients to build a category defining platform for go to market teams.  In Ashley, we had the glue who brought the team together.  Our original thesis centered around how the atomic unit of a meeting could serve so many different use cases.  From deeply specific insights on a rep or customer basis to aggregated insights around competitive share shifts, as small examples, the “meeting” – at scale – could become the ultimate source of truth for an organization.

An acquisition of a company with the momentum (not the first time!) of Momentum is always bittersweet.  But it is obvious what a powerful combination Salesforce + Momentum will be.  Working with Santi, Ashley and Moiz, along with the new leaders and fantastic employees at Momentum, has been an incredible privilege.  They have built a fantastic organization across the US, Vancouver, India and Argentina.  We are grateful for their partnership and, more importantly, friendship.  This is a fantastic outcome for FirstMark and we look forward to continuing to back the next generation of leaders driving the next wave of AI adoption.