B2B Buyer Intelligence Startup Slintel has $ 20 million in Series A funding led by GGV capital, a global venture capital firm known for investing in companies like Airbnb, HashiCorp, Peloton, Poshmark, Slack, Square, StockX and Wish.
Existing investors also took part in the round Accel, Sequoia capital India, and Stellaris Venture Partner.
The startup raised $ 4.2 million in October 2020. It reported that its sales and customer base has grown more than five-fold in the past 12 months.
Slintel plans to use this capital to expand globally and build a high performing, reliable marketplace for B2B sellers and buyers.
A statement shared by the company said the company wanted to establish itself as a leader in this category with the support of GGV Capital.
“The Slintel team is pleased to welcome Hans Tung as a new board member. We look forward to deepening our solution to support use cases in various GTM roles, “said Deepak Anchala, Co-Founder and CEO of Slintel.
The team added that B2B buyers are now more digital, and buyer information replaces traditional sales and marketing information as more people buy online. By 2025, 80 percent of all B2B purchases will be made through digital channels, according to the company.
Slintel is said to help go-to-market teams understand where buyers are on their journey, what their weaknesses are, what technology they are using, and migrating data to get a 360-degree view of the buyer.
Hans Tung, managing partner at GGV Capital, stated: “As the global pandemic is completely changing the way companies work, B2B transactions are more digital than ever. Inside sales teams close high quality, multi-million dollar deals while working remotely, and Products like Slintel enable companies to do this by helping them redesign their entire sales process for today’s environment. ”
Founded in 2018 by Deepak Anchala and Rahul Bhattacharya, Slintel was designed to uncover various forms of buying intelligence to make the process of identifying high-intent prospects much easier, more intuitive, and completely data-driven.
They found that sales organizations needed to rethink their processes to be more efficient and scale faster.
The duo found that identifying companies based on traditional, shabby parameters such as territory, size, industry, or similar businesses is one inefficient company that costs marketing and salespeople valuable time, resources, and effort.
Madhu Yalamarthi, Vice President at GGV Capital said, “Deepak’s years of experience leading product, growth and sales functions gives him the super power to see where the puck is going and to bring people from different groups together to take this opportunity use.”
Both Hans and Madhu join Slintel’s board of directors.
Use prediction algorithms
The platform helps customers discover and engage with active buyers with high purchase intent in their market, and evaluate billions of data points to derive actionable insights about target accounts.
Slintel has developed an engine that captures large-scale purchase intention signals and uses predictive algorithms to guide potential customers’ purchasing decisions.
Alok Goyal, Partner at Stellaris Venture Partners, said, “The next big wave in business is using AI to rethink processes, and all AI at its core requires data. So I’m optimistic about the entire data stack, including data that is either proprietary or inferred data that is not easy to replicate. Slintel is in the second category. your The ability to predict strong prospects is a relatively unique skill, and it’s very easy to sell as there is a direct correlation to sales for your customers. “
The company said purchase intent is the fastest growing category in sales and marketing intelligence, with sales of $ 24 billion.
Prayank Swaroop, partner at Accel, said: “Slintel has one of the best GTM engines we’ve seen in any startup and the consistency with which the team has achieved its growth goals is commendable. We look a company that is transforming the world of marketing and sales intelligence as we know it. ”
Edited by Teja Lele Desai