Slintel, California and Bengaluru-based SaaS startup has raised US$ 4.2 million in Series A funding held in October 2020, led by Accel Partners. Other participants include Sequoia Capital India and existing investor Stellaris Venture Partners.
It is a predictive sales and marketing intelligence platform, which plans to use this investment to enhance its presence in the US and add a greater chunk of the market share by strengthening its products. A part of the funding will also be used to double its team from the current 35 to 70 employees in the future. Slintel focuses on sectors like enterprise software, pharmaceuticals, education and gaming.
According to Deepak Anchala, CEO and founder at Slintel, “The new investment will enable us to double down on our vision of helping sales and marketing teams find buyers that are most likely to engage with them. The investment from this round will be used to strengthen the product and capture market share aggressively, given the velocity at which we have been able to add customers over the last year.”
The company has graduated from tech accelerator GSF’s deeptech cohort in December 2018. Slintel gives customers information about upcoming contract renewals, companies that show signs of buying their products online, or companies that use products of their competitors, Anchala added.
Slintel said that its revenue stream has grown multi-fold in the last year and has a total of over 100 customers now. The company saw a slowdown in buying intent in the second quarter, with a bounce-back in the third and fourth quarter of the last calendar year, especially in categories like Enterprise software.
Slintel’s customers have seen sales opportunities grow 2-3 times after using its product, which is also pulling in a significant amount of inbound marketing.
Slintel was founded in 2016 by Deepak Anchala, Rahul Bhattacharya and Ranjana TN. It offers predictive sales insights to B2B technology and software product firms and with more focus on the US market. Nearly 80% of its revenue comes from the US. It also has customers in Europe and the Asia-Pacific region.
Accel is a venture capital firm which targets seed, early and growth-stage startups. It was founded by Arthur Patterson and Jim Swartz in Paolo Alto, California in 1983. Accel operates in the US, London, Indian and China. It primarily focuses on technology firms, but sometimes looks into groundbreaking startups from other backgrounds.
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