AI-powered Sales Tech Scalestack Closes $1MM First Funding Round, and Renews MongoDB as Customer in a Multi-year Deal
Data-agnostic startup is an all-in-one enrichment & activation platform, helping B2B SaaS GTM teams doubling productivity and growth
Scalestack, the AI-powered all-in-one data enrichment, prioritization & activation platform for RevOps, has raised $1MM in their first round. Investors include Ripple Ventures, Forum Ventures, Flyer One Ventures, Founders Network Fund, and others. This round of capital will help the platform expand its offerings and grow its reach in the market.
Most sales tools in the market focus on converting and engaging with prospects, but the targeting stage in sales tech remains archaic and underdeveloped. B2B SaaS Companies are hence left with either leaving research up to the reps, killing performance, or building in-house data enrichment teams, which are expensive and hard to maintain.
Scalestack does not sell data, but creates customized, yet automated workflows for existing data (internal and external), along key dimensions of their customers’ ICP. Scalestack runs these workflows at scale in customers’ CRMs, so that data’s always fresh, and properly prioritized, then does the last-mile delivery of insights to sales reps with AI.
Scalestack reports the addition of new customers, including a renewed, expanded and multi-year contract with MongoDB. MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience.
“Our sellers get hundreds of sales leads coming in weekly from a large variety of sources like events, job postings, and via social networks,” says Meghan Gill, SVP Sales Operations, MongoDB. “Leveraging AI, Scalestack has been key in helping us to easily aggregate, manage, and automate disparate GTM data sets in a matter of minutes and identify true leads.”
Scalestack, who also leverages MongoDB’s Atlas and Atlas Vector Search to enable its AI enrichment workflow at scale, works by identifying who in the sales and marketing funnels are primed for engagement by training on available data sources like ZoomInfo, Crunchbase, LinkedIn, plus internal data sources (e.g., CRM data). The platform creates a customized and automated data-view of ideal customer profiles, and prioritizes prospects based on this information. The platform then suggests what sales people should do to reach out, or maintain relationships with potential and existing customers, based on sales plays.
“No one should spend their time doing repetitive and boring work,” says Scalestack Cofounder and CEO Elio Narciso. “Yet, sales reps today spend 72% of their time on non-sales tasks: a lot of effort is wasted on manual research, prospect prioritization and data entry. That’s why we created this platform — to automate the most time-consuming part of selling, so that sellers can focus on what really matters.”
“The AI sales market is on a path to reach an estimated value of $93 billion by 2032. However, many companies in this sector provide tools primarily tailored for the lower end of the sales funnel. This often necessitates manual research of prospect data,” explains Matt Cohen, Managing Partner at Ripple Ventures and an investor in Scalestack. “Scalestack is addressing this particular challenge head-on. Through its automation solutions targeting the upper segment of the sales funnel, it significantly enhances the productivity of sales representatives during the critical initial phase – account and prospect targeting,” Cohen points out. “For sales leaders, Scalestack’s a no-brainer.”