As the pandemic rages on, business are trying to find an edge when it comes to sales. Having the right data about the customers most likely to convert can be a huge increase right now. Slintel, an early phase startup developing a sales intelligence tool, announced a $4.2 million seed round today.
The investment was led by Accel with help from Sequoia Capital India and existing investor Stellaris Endeavor Partners. The business reports it has now raised $5.7 million including a pre-seed round last year.
Deepak Anchala, company founder and CEO, states that while sales and marketing groups are trying to target a broad market, most of the time their emails and other forms of communication with customers fail. As a sales individual in previous start-ups, Eightfold and Tracxn, this was a problem Anchala experienced very first hand. He thought with information, he might enhance this, and he began Slintel to develop a tool to provide the sales data that he was missing out on in these previous positions.
“We concentrate on helping our clients fix that [lack of data] by determining people with high purchasing intent. We are able to inform sales and marketing groups, for example, who is most likely to buy your item or your service, and who is most likely to buy your item today, as opposed to two months or six months from now,” Anchala described.
They do this by taking a look at signals that might not be obvious, but which let sales groups understand essential info about these companies and their possibility of buying soon. He says that every business leaves a technology footprint. This could be data from SEC filings, annual reports, task openings and so forth.
“In today’s world there is a massive quantity of footprint left online when a business uses a specific item. So what our algorithms do is we map that at scale for about 15 million companies to all the products that they’re using from the various sources we have the ability to identify– and we track everything from week to week,” he stated.
The business has 45 employees today and anticipates to double that number by the end of 2021. As he develops the business, specifically as an immigrant founder, Anchala wants to construct a diverse and inclusive organization.
“I think one of the crucial successes for business today is having variety. We have a worldwide labor force, so we have a labor force in the U.S. and India and we wish to capitalize on that. In the next stage of hires we are taking a look at working with more diverse candidates, more female staff members and individuals of different nationalities,” he said.
The company, which was founded in 2018, and emerged from stealth in 2015, has actually generated 100 business consumers and has actually seen most of the customers really come on board this year as COVID has required companies to find ways to be more efficient with their sales processes.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.