May 2017 has turned out to be a phenomenal month for B2B sales and predictive analytics platform. Following the news of latest funding rounds for Mintigo, Terminus and Demandbase, the maker of world’s first predictive sales management platform too announced its successful closure on investment from venture partners. People.ai announced $7 million in Series A funding led by Lightspeed Venture Partners. Index Ventures and Shasta Ventures also participated alongside existing investors Y Combinator and Ron Conway’s SV Angel. Nakul Mandan, Partner at Lightspeed Venture Partners, will join the Board of Directors of People.ai.
People.ai improves the way sales teams hire, ramp, coach and manage new resources using AI and personalized dashboards.
People.ai Aims at Solving the Exact Sales Problems
People.ai is a sales management platform powered by Artificial Intelligence (AI) that helps companies to improve the performance of their sales teams by surfacing insights and delivering recommendations about coaching, ramping and deal analytics. The platform helps sales teams to work smartly with AI-powered coaching and personalized feedback, enabling the business to generate revenue for customers. People.ai completely removes the ordeal of data entry, thereby increasing overall sales productivity and providing clear, actionable, insights for closing more deals.
“The People.ai team includes veterans from industry leaders such as Salesforce, Marketo, Mixpanel and SAP SuccessFactors,” said Oleg Rogynskyy, founder and CEO of People.ai. “We’re here to change the way sales leaders are managing their teams by helping them make better and faster decisions. CEOs have told us they’re constantly looking for new ways to drive more revenue from their sales teams. People.ai solves that exact problem. We’re giving sales leaders a repeatable formula they can use to win more deals and build a world class sales team.”
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Mission Possible: Do Sales Based on Insights from Data and Not Intuition
Nakul Mandan of Lightspeed Venture Partners, says, “Sales management continues to be one of the largest enterprise software markets. However, most of the current offerings in the market are about workflow automation or providing intelligence around which prospective customers to target. People.ai takes a refreshing approach to space with the view that a lot of sales management comes down to people decisions around hiring, coaching and managing sales reps in the right direction.”
The predictive sales platform has so far signed 50+ customers including Salesloft, Gainsight, and MemSQL, since graduating from the Y Combinator summer batch 2016. Nick Mehta, Chief Executive Officer at Gainsight, informs, “People.ai has given us the ability to gather valuable insights into our sales cycle. We took the insights gathered in Q4 2016, applied them to Q1 2017 and were able to exceed our revenue targets.”
Nakul adds, “By taking a data-driven approach to sales management, People.ai empowers sales leaders to do something that hasn’t been possible until today: make their people decisions based on data, not intuition.” Lightspeed Venture Partners has helped scale several category-defining enterprise software companies such as AppDynamics, Nutanix, and Mulesoft.
The new funding is expected to fuel cutting-edge innovations at People.ai. Currently, the AI-driven predictive sales management platform provides 360-degrees insights into sales activity as well as automatic syncing with powerful Salesforce ecosystem. The overall objective of the firm would be to foster transparency and personalization for a super-charged sales-friendly performance.