The latest trending startup tech news is about Saleswhale, the Singapore-based startup that raised US$5.3 million in Series A equity funding. This round of funding was led by Monk’s Hill Ventures. Back in 2017 the startup had also closed a $1.2 million seed round which was led by GREE Ventures along with Monk’s Hill Ventures and Wavemaker Partner and Y Combinator who were also a part of the latest Series A round of funding.
Saleswhale: The AI Startup
Saleswhale is a Singapore-based startup founded in 2015. The company has developed an AI assistant that works primarily with sales and marketing teams in order to identify and qualify genuine buyers at scale. This solution automates the lead engagement and qualifications processes. The AI assistant functions in a way where it uses AI personas to initiate contact, follow up and engage with thousands of leads in a human and natural way via email. In this way, when a lead is ready for a sales conversation, the AI sales assistant hands them off to a human representative.
Gabriel Lim, CEO of Saleswhale expressed that clients are sometimes so satisfied they are chatting with a human, who is nothing but sending collateral, PDFs and arranging conferences. The not only have a good conversation with the assistant but show the likeliness of coming back.
Saleswhale’s Journey To The Funding Round
The money raised from the funding round will be mainly used to double down the Saleswhale’s AI assistant solution. It will also the company a chance to expand its product and engineering team. It’s current aim is to grow its current team of engineers from 13 to 33 engineers and expand its entire team as a whole. This includes its customer success and sales and marketing teams, from 28 to 70 employees within the next 18 months.
Saleswhale also plans on using the funds to improve integrations with enterprise systems of records like Marketo, Eloqua, Salesforce, and other such customer relationship management (CRM) and marketing automation tools that enterprises generally use. Due this integration, Saleswhale will be able to work directly with CRM systems like Salesforce, automatically pull out leads, reach out to these leads, gather data and automatically push this data back into Salesforce without human intervention.
Saleswhale is working with the belief that AI assistants will become an extremely important asset for global enterprises in the near future. It will be one of the most cost-effective, scalable solution that will guarantee return on investment. Due to these reasons and more, the company is working in full swing to expand its solution.
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