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Santa Clara, California headquartered BoostUp.ai, which provides a revenue operations and intelligence platform to enterprises, today announced it has raised $28.5 million in a series B round of funding.
In the post-pandemic world, a large chunk of B2B sales has gone digital. According to Gartner, by 2025, 80% of buyer-seller interactions will be conducted through digital channels. This shift is leaving back-office CRMs, self-reported insights and spreadsheets ineffective at revenue prediction, thereby affecting follow-up sales and marketing efforts.
BoostUp.ai’s AI-driven solution
Founded in 2018, BoostUp’s SaaS platform solves this challenge by serving as the single source of revenue truth. It offers intelligent forecast submissions and a review, audit and roll-up management workflow that keeps everyone in the team on the same page at all times.
The platform ingests unstructured data from sources like emails and messaging apps and then matches to accounts and opportunities found in CRM applications. Natural language parsing, sentiment analysis and proprietary indexing of spoken and written keywords are applied to better understand sales trends to forecast more accurately whether deals will close.
“Leaders use cockpit-style forecasting command centers to review and source forecast judgements across their whole team hierarchy and audit the deals underneath those forecasts. Meanwhile, front-line managers and sellers use BoostUp.ai’s always on deal command center and use AI-driven deal risk factors and early warning signs to do 40 deal reviews per week without needing many exhaustive zoom meetings,” Sharad Verma, founder and CEO of the company, told Venturebeat.
The company has roped in over 50 customers, including public and high-growth companies such as Udemy, Teradata, Workato, Degreed, Iterable. Plus, it claims to offer 95% forecast accuracy and a 10% increase in win rates.
Funding
With this round, which was led by NGP Capital with existing investors, BoostUp.ai plans to drive innovation in forecasting capabilities, revenue BI and mobile collaboration as well as expand integrations, GTM & OEM partnerships, and enterprise solution readiness. The round takes the total capital raised by the company to over $40 million.
In this space, the company goes against Clari, InsightSquared, Aviso, Gong and People.ai. Verma identified Clari as their biggest competitor and emphasized that their product differentiates with a flexible architecture that is built for custom objects and complex enterprise data models, unstructured communication data intelligence and NLP and buyer sentiment analysis from emails, call transcripts and recordings. He also said they differentiate with an intuitive interface.
According to Gartner, by 2025, 75% of the highest growth companies in the world will deploy a revenue operations (RevOps) model.
