B2B (business-to-business) buyer intelligence start-up Slintel has notched up funding of $20 million as part of its latest Series A round. The round was spearheaded by GGV Capital, a prominent global VC (venture capital) firm that has previously invested in successful ventures such as HashiCorp, Airbnb, Peloton, StockX, Square, Slack, Poshmark, Wish, and others. The existing investors at Slintel, namely Sequoia Capital India, Accel, and Stellaris Venture Partners also took part in this round as per ggv capitaleconomictimes
With digitization taking over the B2B buyer space, intelligence is now dominating conventional marketing and sales paradigms with more complex digital journeys for buyers in diverse sectors. Reports have also estimated that 80% of B2B purchases will be taking place digitally by 2025. Slintel enables go-to-market entities to understand buyers, their stages in their journeys, their issues, and technological adoption levels, while generating data and insights for end-to-end and integrated buyer views.
The funding announcement comes on the back of the company posting growth in its customer tally and revenues by 5X over the last year. The most rapidly-growing segment in the sales and marketing intelligence segment (worth an estimated $24 billion) is buying intent. Slintel is also one of the fastest-growing entities operating in this category. The CEO & Founder at Slintel, Deepak Anchala, stated that with GGV Capital’s support, the company will be targeting market leadership in its segment. He also talked of how the team is pleased to welcome its new board member Hans Tung. He also talked of how the company will aim at broadening its use-case-based solutions throughout varied GTM functionalities.
Managing Partner, GGV Capital, Hans Tung, was on the Forbes Midas List at number 3 for his investment acumen. He stated that with the pandemic transforming operational dynamics for most companies, B2B deals have completely shifted to the digital landscape and hence sales teams are now remotely working and closing high-value transactions. This is being enabled by companies like Slintel according to him, helping entities completely revamp their sales procedures for today’s rapidly changing ecosystem.
Partner at Stellaris Venture Partners, Alok Goyal, stated that AI will be the next big thing in the enterprise space for helping revamp businesses in diverse ways and it will require more data for this purpose. He thus opined that he was positive about data that cannot be replicated easily. Slintel, according to him, comes in this space and he stated that they have strong abilities of forecasting stronger sales prospects. Partner at Accel, Prayank Swaroop, stated that Slintel has a robust GTM engine and they are consistent in meeting their growth objectives as well. He talked of how they were an entity that is completely transforming sales and marketing intelligence.
Slintel came about in 2018 courtesy of Rahul Bhattacharya and Deepak Anchala who understood how conventional sales and marketing processes needed a transformation for enabling higher efficiency and scalability alike. They realized how the identification of entities with conventional segments like size, territory, industry, or similar entities is largely inefficient and takes up sizable time, energy, and money. They thus created a unique platform that unearths buyer intelligence for companies, making it faster and easier to identify sales prospects with a data-based and intuitive process.
