GoKawiilListen Labs abandons signed $1.5B Series C amid Salesforce acquisition talks
Listen Labs, a voice-AI market research startup, had signed a term sheet for a $125 million Series C led by Menlo Ventures at a $1.5 billion valuation, but walked away before closing. Sources say the reversal stems from ongoing acquisition talks with Salesforce, reportedly worth around $2 billion, though no deal has been finalized.
GoKawiil's interpretation of the reporting above, not reported fact.
Walking away from a signed term sheet is unusual and generally frowned upon in venture circles, signaling how attractive the Salesforce offer may be compared to further private fundraising. The situation also reflects surging valuations in the AI-driven customer research space, with rival Simile recently raising at a $2 billion valuation despite lower revenue than Listen Labs.
- Listen Labs scrapped a signed $1.5B term sheet with Menlo Ventures reportedly due to Salesforce talks.
- Salesforce has discussed acquiring Listen Labs for about $2 billion, though nothing is finalized.
- If the Salesforce deal falls through, VCs expect Listen Labs to seek a valuation of $2B or higher in a new round.
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Published there as: “AI research startup Listen Labs scrubbed a $1.5B funding round for Salesforce talks”
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