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AI-powered customer relationship startup Introhive raises $100M round
Artificial intelligence-powered customer relationship management startup Introhive Services Inc. announced today it has raised $100 million in new funding to do strategic acquisitions and expand its global footprint.
PSG led the Series C round. Other investors included Bank of America Securities, the Business Development Bank of Canada, Aegis Group Partners, Evergreen Coast Capital and Mavan Capital Partners.
Founded in 2012, Introhive offers a software-as-a-service platform that helps organizations to increase revenue and improve customer experience management. The company’s platform brings relationship intelligence to CRM with data automation and sale acceleration.
Introhive claims to be one of the first in the market to allow client-facing teams to maximize the value of their relationship intelligence, increase client retention and accelerate revenue. Under the hood, the company’s platform leverages algorithms and AI to provide automatic updates to companies’ sales and client data, communications and behavior. In doing so, Introhive delivers teams what it says are actionable insights on an important focus area: growing customer relationships and generating more sales.
The company claims that by uncovering hidden revenue growth opportunities it saves businesses an average of $68,400 a year per employee on lost productivity and automating manual work.
Introhive’s offering works with any CRM and integrates with numerous other systems, including marketing automation and business intelligence technologies to help enterprises grow and scale. The company has seen strong growth, capturing more than 60 million contacts and relationships in 2020 in over 90 countries. Notable customers include PwC, Colliers International Property Consultants Inc., Wilson Sonsini Goodrich & Rosati, Plante Moran PLLC and Clark Nexsen Owen Barbieri & Gibson P.C.
“Our internal compass focuses on the 3 Rs – revenue, retention and relationships – as the key ingredients to a successful and thriving business,” Jody Glidden, Introhive’s co-founder and chief executive, said in a statement.
Including the new funding, Introhive has raised $140 million in venture capital.
Image: Introhive
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