BIG DATA
BIG DATA
BIG DATA
The startup that powers sales teams at Google and IBM just raised $4M in funding
Running a successful sales campaign requires finding not only organizations that would be receptive to its pitch but also specific people with the authority to sign a deal. Berkeley, Calif.-based LeadGenius Inc. is hoping to improve its ability to ease that task with a new $4 million debt and equity investment provided by SJF Ventures.
The cash infusion comes as a followup to a $10 million Series B round announced in June that saw the participation of Lumia Capital, Javelin Venture Partners and Sierra Ventures. Overall, the startup has raised a total of $22 million since hitting the scene in 2011.
LeadGenius will use the capital to broaden the capabilities of its sales automation platform, which promises to drastically reduce the amount of manual work involved in researching prospects. All marketers have to do is specify what segments they wish to target and let the service do the rest, the company says. If, for instance, a point-of-sale system supplier wants to engage U.S.-based retail establishments with more than 50 employees, LeadGenius’ algorithms will automatically search the web for entities that fit the bill.
The startup claims that its service scans more than 40 million commercial websites, government registries, business directories and social networks in the process. As a result, it’s able to provide a great deal of detail about the companies that come up in searches, including the contact information of key decision-makers. Marketers can sync the service’s findings to their organization’s customer relationship management platform along with select data about each lead such as the corporate structure of their firm.
From there, LeadGenius provides the ability to target prospects using a built-in email marketing tool that supports “hyper-personalized” campaigns, according to its website. It also organizes responses based on their chance of resulting in a deal to help marketers spend their time more efficiently. The startup said one of its main priorities will be adding more outreach features.
IBM Corp., Google Inc. and eBay Inc. are among the dozens of organizations that have adopted its platform so far.
Image courtesy of LeadGenius
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