US-based AI startup People.ai raises US$ 100 Million with valuation reaching upto US$ 1.1 Billion

San Francisco, California, headquartered AI platform- People.ai has touched a US$ 1.1 Billion post-money valuation with its latest fundraise of US$ 100 Million, co-led by Mike Dinsdale of Akkadian Ventures and Abdulla AlBanna of Mubadala Capital in Series D. The financing bout held on August 11 2021, also witnessed the participation of existing backers of the startup including ICONIQ Capital and Lightspeed Venture Partners. 

Fund Utilisation

Over the past year, People.ai has accelerated its momentum and are running on a current success rate of 260% increase in customer growth and 49 patents awards with 40+ more pending. The startup welcomed the addition of former VMWare CMO Robin Matlock to its Board of directors, acquired Closeplan for Customer Revenue Optimisation and Hero Research, and relaunched Hero.app as PeopleGlass™ to turbo-charge the sales team’s productivity when updating and editing CRM data.

People.ai plans to use the latest fund to expand its ongoing growth through investments in its SmartData platform and its expansion into new industry segments and geographies, the company declared. 

What the CEO has to say

Founder and CEO of People.ai, Rogynskyy, remarks, “B2B sales is changing, as companies increasingly look to operationalise all revenue-impacting functions and drive customer engagements based on data-driven insights instead of hunches and instinct. Our AI technology harnesses business activity like email, calendar, and video conferencing data, allowing sales managers to become data-driven coaches and reps to spend more time on the right sales pursuits. This new funding will ensure that People.ai continues to lead the industry with the world’s best account and opportunity management functionality.”

What the Investors have to say

Managing director at Akkadian Ventures, Mike Dinsdale, comments on the recent financing, “I’ve had the privilege to serve as CFO at companies such as DoorDash, DocuSign, and Gusto. Those experiences helped me recognise the hallmarks of companies that fundamentally change the way businesses operate. I instantly recognised the game-changing nature of People.ai, and I’m looking forward to watching them build the next generation of go-to-market growth engine for the enterprise.”

Abdulla AlBanna of Mubadala Capital’s US venture business said, “On rare occasions, we come across a company that will forever change how we work. People.ai stands above the competition in its ability to transform people’s processes across an entire organisation. By applying breakthrough AI technology to vast data sets, People.ai significantly improves efficiencies of enterprise processes, increasing productivity and performance across workflows. We’re proud to co-lead this investment in People.ai as they deliver on a vision to fundamentally change the next era of innovation in B2B software.”

About People.ai

Founded in 2016 by Oleg Rogynskyy, People.ai is an AI platform for enterprise sales, marketing, and customer success that uncovers every revenue opportunity from every customer. People.ai enables sales administrators to be more productive at managing their teams and increasing revenue by giving them a comprehensive picture of sales ventures and leveraging AI to fulfil sales performance analytics, personalised coaching, one-on-one feedback, and pipeline reviews. Its major clients include, AppDynamics, DataRobot, Ivanti, Okta, and Zoom rely on People.ai to unlock growth. For more information, visit https://people.ai/.

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