One obvious outcome of the pandemic was forcing more people to do their shopping online, and that was as true for B2B as it was for B2C. Knowing which your B2B clients are most likely to convert places any sales team before this game. Slintel, a startup providing that kind of information, announced a $20 million Series A today.
The company has brought some big-name investors with GGV leading the round and Accel, Sequoia and Stellaris also engaging. The investment brings the total raised to more than $24 million for example a $4.2 million seed round from past November.
That’s a fast turnaround from seed into A, and firm founder and CEO Deepak Anchala, says that if he had plenty of runway left from the seed round, the demand was such that it appeared sensible to take A money earlier than he had proposed. “So we had enough cash in the bank, but investors came to us and we got a pretty good valuation compared to the previous round, so we decided to take it and use that money to go faster,” Anchala explained.
Certainly the market dynamics were working in Slintel’s favor. Without giving revenue information, Anchala said that revenue grew 5x last year in the center of the worst of this pandemic. He says that meant buyers were spending less time with sales and marketing people to understand goods and much more time online researching on their own.
“So what Slintel does as a product is we mine buyer insights. We are aware that where the buyers are in their travel, what their pain points are, what products they use, what they need and when they need it. We understand all of this to create a 360 degree view of the buyer that you pro