The capital will be used to fuel continued success of the company’s Calendar First™ technology, keeping them on track to triple annual revenue for a second year in a row
Kronologic – the world’s first Calendar Monetization™ engine – today announced additional seed financing led by Signal Peak Ventures with follow-on from existing investors Silverton Partners, Next Coast Ventures and Geekdom Fund – bringing its total amount raised to $20M.
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The funding comes on the heels of continuous company growth and the building of global enterprise customers including VMware, CDW, PayScale, Dialpad and more. Contract expansions with these enterprises are common as Kronologic’s solution easily extends across various revenue-focused departments and use cases, while supporting a net revenue retention rate well over 200%.
Kronologic enjoys a potent engineering team including several recent strategic senior talent acquisitions from Apple to spearhead their data science program and the leadership team. “We are excited to release multi-guest technology, allowing the platform to not only automate one to one interactions, but many to many interactions as well.” Said CEO Trey Allison. “This single technology increases our already-enormous addressable market by more than an order of magnitude.”
Solving the Last Mile Problem…. For good. — “In an age of digital sales, the ‘Last Mile Problem’ refers to the failure of converting leads to sales appointments, which for businesses, translates to millions of dollars in lost revenue and missed opportunities,” said Ben Parker, COO of Kronologic. “By leveraging our Calendar First™ technology, Kronologic eliminates the last mile problem entirely by automatically sending your most qualified, ready-to-buy leads a timely and tailored calendar invite as the initial and primary touchpoint. This has enabled sales teams to come into work with a full calendar of high-value meetings with no human effort. This ultimately drives revenue for businesses by lowering costs, saving time, and granting teams the ability to use their resources more strategically.”
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Kronologic’s enhanced scheduling platform integrates seamlessly with Microsoft, Google and Salesforce products to provide users and their business leads a natural and efficient scheduling experience.
With industry-first pricing that directly ties to successes of customers, Kronologic charges only for the meetings scheduled instead of charging per user or based on database size, making it easy to provide direct ROI starting only days after implementation.
Examples of Kronologic’s Calendar First™ approach has enabled customers to boast results such as:
- 800 meetings booked for 200 reps in 1 week
- 150 meetings booked for 6 reps in 4 weeks
- 5X conversion rate, proving 3X expected revenue
- 100%+ increase in sales pipeline
- 340% increase in lead to meeting conversion rates
- Response rates as high as 73%
“Kronologic is revolutionizing the way the sales pipeline is built by focusing on the “Buyers’ Experience,” and it’s paying off,” said Scott Petty of Signal Peak Ventures. “SPV’s investment underscores our confidence in Kronologic’s ability to upend an ineffective sales process. We are excited to be a part of the journey.”
Additional alignment to the enterprise includes the achievement of SOC 2 Type II and SOC 3 security compliance, and a flawless track record of passing global enterprise security reviews.