Salespeople at the world’s top tech firms have long abandoned the traditional manual approach to managing their deal-making efforts. Instead, they employ automation tools from the likes of Aviso Inc., which announced today that it has raised $8 million in funding.
The Menlo Park, California-based startup currently counts Hewlett Packard Enterprise Co. Inc., Splunk Inc., Nutanix Inc. and about 30 other companies as customers. They rely on its Aviso Insights platform to streamline some of the most time-consuming tasks involved in running a business-to-business sales operation, starting with predicting revenue at the beginning of a reporting period.
The software employs predictive analytics algorithms to size up a company’s deal pipeline and help users quickly put together a forecast for a new quarter. From there, the report can be quickly shared with the rest of the sales department through a built-in collaboration tool. Team members may provide feedback and even change parts of a sales prediction by themselves as new data becomes available.
Since even the most accurate sales forecast is based largely on probabilities, there’s always the chance that some unexpected factor may emerge and require a company to revise its quarterly goals. Aviso Insights packs a risk analysis tool along its sales prediction features that aims to avoid such setbacks by identifying issues that may prevent a deal from closing. Salespeople can use the platform to individually assess each deal and prioritize their efforts in a way that maximizes revenue.
Today’s funding will enable Aviso to finance the development of even more analytics features for its platform. A spokesperson told VentureBeat that the startup still has money in the bank from its previous $15 million round in 2015, but decided to raise the additional funds to give newly appointed Chief Executive Michael Lock more resources to work with. The former Google Inc. executive is taking over the reins from Aviso founder K.V. Rao, who is assuming the role of chief strategy officer.
Aviso’s new funding was provided by Box Inc. backer Scale Venture Partners, Next World Capital and Shasta Ventures. The startup has raised a total of $31 million to date.