Organizing information on potential deals is a challenging task for B2B sales teams, as sellers generally rely on multiple tools (email, Zoom, WhatsApp, etc.) to speak to buyer committees. It becomes even more difficult to manage when sales teams work remotely. Nektar.ai is a B2B sales productivity startup that wants to help the sales team by reducing the amount of time they spend on manual data entry and providing analytics that can increase their revenue. The Singapore-based company announced today that it has raised $ 6 million in seed funds, led by B Capital Group.
3One4 Capital and Nexus Venture Partners, a recurring investor, also participated, along with angel investors such as Amit Midha, Dell president for Asia Pacific and Japan; Ritesh Agarwal, founder and CEO of OYO Hotels; Kevin Merritt, former president of the information and data division of Tyler Technologies; Evan Davidson, SentinelOne Vice President for Asia Pacific and Japan; Deep Nishar, Senior Managing Partner at SoftBank Investment Advisers; and Tom Donlea, vice president of Ekata and general manager of APAC.
Combined with your previous round, $ 2.15 million led by Nexus Venture Partners And announced in November 2020, the new financing brings Nektar.ai total seed capital to $ 8.1 million. The company says this is one of the largest seed rounds ever made for an Asia-based SaaS company. Nektar.ai’s workforce is remote first, and the company says half of its team are women.
Nektar.ai has been in stealth mode since it was founded in 2020 by Abhijeet Vijayvergiya and Aravind Ravi Sulekha, working with hundreds of clients in private beta mode. Their waiting list is currently open for enrollment, with plans to launch publicly in the first half of 2022. Part of Nektar.ai seed funding will be used to build a go-to-market team focused on the United States.
Nektar.ai was designed for SaaS revenue teams who have to manage information through many channels, including email, calendars, web conferencing, Slack, CRM tools, LinkedIn, and WhatsApp. This makes it difficult for them to collaborate, follow playbooks (or sets of best practices), and gain a complete understanding of revenue and deal flow. Nektar.ai integrates with different applications, displays key data, and delivers it to the most convenient collaboration tool for a team, like Slack.
Vijayvergiya told TechCrunch that over the past six months, Nektar.ai accelerated product development because “we saw strong demand for a guided selling solution in the marketplace,” adding more than 200 prospects from its waiting list.
Nektar.ai released a manager web console, a Chrome extension, and integrations with Salesforce, Google Workspace, and Slack. It also added a new feature called Capture Bot, an artificial intelligence-based system that automatically extracts important information from sellers’ online interactions with buyer committees, displaying data that would otherwise be saved in different inboxes and calendars. This increases the accuracy of their CRM tools and allows sales managers to see how engaged their teams are with potential customers and how potential deals are progressing.
For individual representatives, Nektar.ai tools allow them to spend less time on manual data entry. They also get analytics as multi-threaded scores that help them identify how deals were won or lost. For example, Vijayvergiya said that a client found that they won deals if they had at least four contacts with a buyer committee after the demonstration stage. As a result, their sales reps began interacting with more than four buyer committee members on all potential deals.
Another way that Nektar.ai helps SaaS sales teams save money and time is to create their own contact databases from their inboxes. Vijayvergiya said that one customer was able to save $ 50,000 by organizing their existing contacts rather than buying third-party contact details.
In a statement, B Capital Group General Partner Gabe Greenbaum said: “Nektar.ai solutions provide great value to distributed income teams, which is even more important as companies conduct more business in global markets. B Capital is always eager to work with experienced and knowledgeable founders, and we are confident that Abhijeet, Aravind, and the Nektar.ai team will continue their strong momentum on the path to becoming the industry’s leading tool for sales productivity. business ”.