Convin received $2.1M in the seed fund round led by Kalaari Capitals and backed by Good Capital, Plan B Innovations, BFF, and Digital Sparrow. The funding aims to scale the sales and product teams involved in building a platform for assisted selling for high velocity & high-value sales.
I’m happy to announce that Convin has recently raised a $2.1M seed funding round and welcomed our lead investor Kalaari Capitals, to Convin’s community. Kalaari Capitals led the seed round along with participation from renowned investors: Good Capital, Plan B Innovations, BFF, and Digital Sparrow.
Achieving this milestone adds another vote of confidence to our vision of assisting sales professionals to sell faster and better amidst uncertainties and changing circumstances. The company will use the capital to fuel development for product innovations and scale the company’s go-to-market motion Another positive impact of the investment will reflect on our flagship product-conversation intelligence software.
2022 is certainly keeping us busy!
We started Convin in 2020 with the intention to solve a pressing issue in the sales industry.
During our time in B2B SaaS companies, we witnessed first-hand client conversation data lying unutilized and unmanaged. And these conversations were gold–capturing information not just useful to sales teams but the product, customer success, marketing, and other functions too. We didn’t want hard-working sellers to miss out on any deal opportunity because of a lack of data and insights.
Hence, Convin was formed under the leadership of our founding team Ashish Santhalia(CEO), Bharat Patidar (COO), Atul Shree(CTO), and Durgesh Choudary (CPO)--IIT Delhi Alumni. Our vision was to develop a comprehensive conversation analytics solution for sales professionals to learn from their conversations while fast-tracking business call reviews and feedback process.
We have been successful in raising $0.3 Million, in June 2021, in a pre-seed funding round led by Titan capital and 9Unicorns. Several marquee investors, including Kunal Shah, founder of Cred, Abhishek Goyal-Founder of Tracxn, Ramakant Sharma - Founder of Livspace, Sunder Nookala-Founder of Huminos, and Rajesh Razdan-Founder of Devtron Labs, also participated in the round. A large chunk of the pre-seed fund was dedicated to developing the AI-backed product and building the core team to achieve product-market fit.
We bagged highly reputed brands in a short span of time. Working with Aakash Institute, PlanetSpark, Care Insurance, Capital Float, and others has been the most rewarding part of the journey. Investing in these clients helped us raise our bar in expanding the product scope.
To put things in further perspective, with remote selling becoming the norm, and less than 20% of buyers wishing to return to offline selling, the need for a complete assisted sales solution is indispensable.
While working with various inside sales teams in different industries, we saw a pressing need for a comprehensive sales solution, especially in the B2B market. As a result, Convin is envisioning a single holistic solution for the sales professionals.
“With Convin, we want to enable sales leaders to drive the revenue and also ensure that the sales representatives can fulfill their quota by effectively and efficiently engaging the customers in conversation.” - Bharat Patidar, the Founder, and COO of Convin.
Utilizing the funding, we plan to shift from a conversation analytics solution to a complete assisted selling platform. The revised holistic solution would cover our flagship product conversation intelligence tool and other assisted selling solutions like agent assist and live agent support, to name a few.
Owning the entire infrastructure of the purchase channel isn’t possible without the support of sales, product, and marketing teams. Thus, a considerable allocation is allotted towards attracting skilled talent to the respective teams.
Our plan is to grow 20% M-o-M and to make this happen, we plan to radically reorganize strategies for all the teams; leveraging data and market insights.
"We believe that assisted selling is going to stay & will become even more crucial for enabling better conversions & great customer experiences. With Convin, we want to transform the entire model of assisted selling for businesses & their customers.” - Durgesh Choudhary, Founder, and CPO of Convin
Sales is a demanding and rewarding career, but it comes with the risk of losing job stability and mental well-being owing to unsuccessful attempts at achieving sales quotas month after month.
Calculations made using the data from Deloitte and a BBC report, state that mental health has the potential to cost a sales team of 10 $24,690 a year. Another study led by the WHO suggests that depression and anxiety disorders cost the world economy about US$1 trillion annually in lost productivity.- Sales Health Alliance
Hence, Convin doesn’t foresee building sales technology as its biggest mission. Automating non-core selling activities improves sellers' productivity and subsequently, impacts their mental well-being.
As a result, eliminating unnecessary activities such as note-taking and call reviews gives the sales team more breathing room.
We aim to start applying similar technology-driven techniques at home and implement employee-friendly working conditions for the Convin sales team and other employees–eventually spreading the vibe and facilitating a stress-free selling environment globally.
I want to thank every employee, investor, and client who believed in us and our products.
I’m positive you’ll love what’s coming next. And in the meantime, feel free to drop by any ideas, feedback, and suggestions at email@example.com
If you find our product exciting and wish to take a quick sneak peek, Try For Free.
If you want to help us build the next phase of Convin, check out our new job postings on LinkedIn. We are looking forward to meeting passionate and talented people to join us.