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Israeli startup Amywhich provides an AI-powered solution to help enterprise representatives build better connections with customers and sell at a better price, has raised $6 million in an initial funding round.
Sales are not a piece of cake. You have to identify and understand a potential client (including where they come from and what their needs/desires are) and come up with an ideal proposal to create a long-term business relationship. Reps spend about 20% of their working hours on this type of research, but still find less than 50% of their initial prospects As a good size. In addition, maintaining these contacts is much more difficult, when the network grows exponentially, one cannot monitor all his customers and communicate with the sales base to continue sales.
AI-Driven Emmy’s Answer
To solve this particular challenge, Amy offers a solution that automates the task of looking for possibilities and provides actionable insights to generate and make the most of deeper, long-term working relationships.
The platform, the company explains, takes advantage of all publicly available information about a potential customer and turns those threads of random data into understandable meeting summaries that provide concrete, personal insights into the potential customer. It covers relevant information both at the company level and at the individual level, including things like job changes, financing, acquisitions, shared experiences, and news items that highlight whether they are unique to something new/interesting.
“Our property [natural language processing] NLP The technology takes publicly available data from the web on probability and summarizes it as a booster,” Nimrod Ron, CEO and founder of Amy, told Venturebeat. Occupation and potential company, as part of the main summary.”
“Amy clients can apply this information as a way to break the deadlock or to elevate the relationship throughout the meeting,” he added.
While the CEO did not share exact growth numbers, he did note that their product is being used by users from companies of all sizes in English-speaking countries. It was also ranked #1 on Product Hunt during alpha testing.
anyway Customer Relationship Management (CRM) Tools like Hubspot and sales intelligence platforms such as Apollo or lucha Operating in the same space and simplifying the task of identifying a potential client, Amy stands out for her ability to build strong connections with clients.
“These solutions are typically built for prospecting and do not provide the level of deep analysis at the individual and corporate level to create strong personal business relationships,” Ron said.
With this round of funding, led by Next Coast Ventures and Lorne Abony, the company will focus on building its technology, particularly NLP and machine learning components, and expanding its presence into more English-speaking markets. Other investors who took part in the round included Jim Mellon, Eric Ludwig, Misha Brixton, Joey Low and James Kong.
“There is a clear need in the market to improve meeting experiences, given that the average professional spends hours each day in meetings,” said Michael Smerklow, co-founder and managing director of Next Coast Ventures. “The Emmy Show addresses this need by leveraging the art of human communication in business. The platform makes work personal by enabling professionals to understand who they are about to talk to and why that person cares to talk to them – making meetings more effective and efficient.”
Globally, sales intelligence market is expected To grow by 10.6% from $2.78 billion in 2020 to $7.35 billion by 2030.