The funding will enable Zipteams to further strengthen their engineering and machine learning teams to accelerate product development and expand footprints across India and US
Mumbai, 26th July 2022: Zipteams, a leading conversational intelligence platform for inside sales and customer success teams, today announced the successful closure of $700K seed funding led by IndiaQuotient and a group of angel investors. Zipteams uses AI to make customer conversations more contextual, engaging, and fruitful by enabling sales teams to bring the right data points to their customers at the moment of need.
Sales teams today depend on CRMs for the context and data about the customers, however, today they are more constrained than enabled with the CRMs because of the manual nature of data entry in them. Zipteams will make the $145 bn CRM investments more worthy by automatically capturing customer data right at the source where the conversations are happening.
The funding will enable Zipteams to invest further in its unique concept of intelligent digital salesrooms that have the capability to harness data and bring real-time customer insights to inside sales and customer success teams in virtual meetings. The company will look to strengthen the engineering and machine learning teams to enhance product offerings and seeks to achieve significant user growth in India and the US markets within the next 12-15 months. IndiaQuotient’s experience with a vast network of successful product companies will aid Zipteams in taking strategic go-to-market decisions to achieve an exponential product-led growth journey.
Zipteams has successfully completed a 6 months beta testing of the product and witnessed rampant growth in adoption across Edutech, IT, and SaaS industries. The team is now focused on expanding the use cases for sales and customer success teams across other sectors as well. Zipteams’ intelligent meeting rooms are powered with automatic identification of next steps for sales follow-up routines, self-guided nudges for sales teams to onboard and get trained faster on the job, and a complete repository of customer meetings to keep all their context in one place.
On the announcement, Siddhartha Srivastava, Founder, Zipteams, said, “The proportion of inside vs outside sales teams is continuously growing over the past few years (45.5% now). Infact, the inside sales teams are growing 15X faster than the outside sales team. However, in this virtual, hybrid setup, there is a considerable demand for advanced technologies to assist the teams to deliver high performance in virtual customer meetings, consistently. With Zipteams, we aim to empower inside sales and customer success teams with a platform to unlock value from the massive data that is being generated in their daily customer conversations. We are already seeing great traction for the product and are continuously growing our waitlist and user base significantly week on week.
With the seed funding, we will strengthen our product and also expand our geographical footprint across India and US. We are highly enthusiastic about the investment at this juncture of our growth and look forward to elevating and innovating our offerings. IQ’s involvement will help us to fast-forward some of the most critical projects, which otherwise would’ve taken time to manifest. IndiaQuotient believes in the future potential of “Made in India” companies and our mission to build a global AI-first SaaS product from India resonates perfectly with that thought process.”
Anand Lunia, Founding Partner, IndiaQuotient said, “We have only seen the tip of the iceberg for ‘India to rest of the world’ SaaS opportunities and IndiaQuotient will continue to back exceptional founders building in this space. Inside sales is a growing market in itself and real-time contextual intelligence will be a significant enhancement in sales conversions and digitising the sales playbook.”
Zipteams’ next product upgrades will focus on advancing their NLP language models to capture nuanced customer intents. This will enhance the organization’s ability to provide real-time revenue intelligence nudges to sales teams while they are actively interacting with their customers on a call. Akash Chatterjee, Co-founder at Zipteams, added, “I’m particularly excited about our configurable NLP layer, which is designed to analyse intent and churn out real-time insights directly on customer calls. We’re making some great strides in designing our virtual calling experience to work seamlessly with our personalised recommendations engine.”
