San Francisco-Based Venture Firm Plug and Play Invests in Vymo – a Personal Sales Assistant for Deskless Sales Teams
The strategic investment is on the back of Vymo's Series B funding and expansion into the US markets
Vymo announced its partnership with Plug and Play, a San Francisco-based venture firm and innovation ecosystem enabler, which connects the world’s largest corporations with cutting edge startups. The partnership is aimed at furthering Vymo’s mission to help distributed sales and relationship management teams unlock their potential.
Vymo’s mobile-first solution captures sales activities automatically, learns behaviors of top-performing sales reps in the organization, and nudges good behaviors contextually to improve outcomes.
Vymo is used by 100K deskless salespersons in 55+ global enterprisessuch as AXA, Allianz, VPBank, Sumitomo, Sompo, Aflac, HDFC Bank and Generali and has a phenomenal user adoption of over 85%(in comparison to the industry average of less than 30%).
Vymo raised Series – B funding of $18M from leading investment firms, Emergence Capital and Sequoia Capital in July, last year, and has since expanded in the US, gaining tremendous interest from Fortune 500 enterprises in the Financial Services and Insurance verticals. Recently Vymo added Financial Services industry veteran, Cory Haynes, formerly of Blackrock and Nuveen Investments, to Head GTM in the US.
Speaking on the partnership, Ms. Yamini Bhat, former McKinsey consultant and Vymo’s Co-founder & CEO said, “We live in a post-Uber world where consumers have been conditioned to expect instant, personalized service in every facet of their lives; Financial Services are no different. Conventional CRMs still act as passive databases and do not equip salespeople with the insights they need to engage consumers effectively. We are excited by this partnership with Plug and Play as it further validates the market demand for Vymo in the North American market.”
Alex Tran, who leads Insurtech Partnerships at Plug and Play said,“Advisor retention across insurance and financial services is very low. This is bleeding the companies. In addition, an average advisor is around 59 years old and attracting millennial workforce into this industry is now table stakes. We believe Vymo as a personalized sales assistant and coaching application can be a game changer for this industry.”
Read More: 7 SalesTech Tools To Fall In Love With!
