Company Has Tripled Revenue, Doubled Headcount in 2020
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BoostUp.ai announced $6.25 million in A funding to unify data from sales, marketing and customer success in a single platform to better predict revenue and optimize customer lifetime value for B2B companies. The round was led by Canaan Partners, with participation from Emergent Ventures, BGV, MFV Partners and Correlation Ventures, as well as executives from Okta, Marketo, New Relic, Google and Palo Alto Networks. Having already tripled revenue and doubled headcount in 2020, BoostUp.ai will use the funding to support the continued development of its platform and to scale operations.
“BoostUp.ai is a best-in-class revenue intelligence platform with the potential to lead this growing category. Self-reporting of data by reps makes it incredibly difficult to accurately assess deal and account status, no matter the industry. So almost always, quarters end with a positive or a negative surprise,” said Joydeep Bhattacharrya, general partner at Canaan. “As teams move to more remote and hybrid settings, with more communication happening exclusively via digital channels, the ability to use that data to more accurately forecast business performance will become table stakes for all companies.”
While the responsibilities of CROs have widened over the years, moving from just delivering initial sales to now maximizing annual recurring revenue where post-sales and customer success motions are much more significant and more complex, the supporting systems have been stuck. Different sales functions still operate disjointedly, relying on services that don’t talk to each other and don’t span the full customer lifecycle. As teams span more time zones, work via digital channels and apply asynchronous ways of working, companies that can collaborate in real-time around data are well-positioned to lead their markets.
BoostUp.ai’s AI-driven platform ingests unstructured communications from email, calendars, messages in Slack and Microsoft Teams and call recordings and transcripts from Zoom, but also customer support tickets and product usage data to knit together a holistic picture of customer accounts and prospects. It then applies natural language parsing, sentiment analysis and proprietary indexing on spoken and written keywords to help companies to forecast more accurately and also get early warning signs of deals and account churn.
“Work now happens on apps like Slack, Microsoft Teams, Asana and Zoom. We’ve moved away from manual systems like CRM that rely on human data, particularly when it comes to things as important as revenue operations,” said Sharad Verma, co-founder and CEO of BoostUp.ai. “We’ve built the first platform purpose-built for hybrid and remote workforces that allows every person responsible for revenue – from sales, marketing and customer success – to get real-time insights and collaborate on a single platform.”
Customers including Branch, Iterable, Toluna, GrandRounds, PerimeterX, and DealPath already use BoostUp.ai to double their forecasting accuracy, accelerate deals, reduce account churn, and get AI-driven guidance on pipeline gaps.
“Before BoostUp.ai, we had significant data silos across sales, solutions consulting, research, and customer success teams. With BoostUp.ai, we now have a complete picture of accounts, opportunities, and associated contacts across the entire customer lifecycle, from acquisition to advocacy,” said Marco Pasqualina, senior vice president & head of sales, Toluna Inc. “This transparency provides our entire commercial team the visibility and insights needed to drive more predictable forecasting and revenue.”
BoostUp.ai’s three co-founders include Verma, Amit Sasturkar and Neel Kamal who bring 30+ years of collective experience leading sales teams and building large-scale unstructured data AI applications. Repeat entrepreneur Verma was formerly the founder and CEO of Piqora, a content marketing platform acquired in 2016, and an executive at Yahoo. Sasturkar is a seasoned CTO who also spent years building large AI systems at Google. Kamal is an tech executive with deep sales experience at companies including Aviatrix, Wavefront, and Couchbase.
