[Funding alert] Slintel raises $4.2M investment led by Accel Partners
Sales and marketing intelligence platform Slintel, based out of California, US, has raised $4.2 million funding led by Accel Partners. The round saw participation from Sequoia Capital India and its existing investor, Stellaris Venture Partners.
The announcement comes less than a year after the company secured funding from Stellaris Venture Partners and Powerhouse Ventures.
Deepak Anchala, CEO and Founder at Slintel, said in a press statement shared by the company:
“The new investment will enable us to double down on our vision of helping sales and marketing teams find buyers that are most likely to engage with them. The investment from this round will be used to strengthen the product and capture market share aggressively, given the velocity at which we have been able to add customers over the last year.”
The platform was founded by Deepak Anchala and Rahul Bhattacharya, when the duo realised that sales and marketing organisations were wasting valuable time and effort chasing prospects with poor chances of conversion.
The statement added the platform has over a 100 customers across North America, South America, Europe, and Asia-Pacific regions. Deepak added Slintel has grown by over 800 percent in the past year and is rapidly capturing more market share in the sales intelligence space.
The press statement said - The Slintel team reported its biggest quarterly earnings number in Q3 2020 despite the turbulence in the market owing to the ongoing global pandemic.
“Slintel’s growth is driven primarily by the unique value proposition of the product and the demand for it in the market today. Over the past few months, we’ve seen several companies make budget cuts across the board and struggle to improve sales. However, Slintel’s platform enables its customers to identify prospects that have a high probability of purchasing their product or service, making it a software that is more important and useful now than ever before," said Prayank Swaroop, Partner at Accel.
The platform helps customers discover and connect with active, high-intent buyers in their market and evaluate billions of data points to derive actionable insights on target accounts. The company has built an engine that captures buyer intent signals at scale and uses predictive algorithms to determine the purchase decisions of prospects.
“The team’s ability to improve the opportunity pipeline for sales leaders while reducing overall spend has been admirable,” said Alok Goyal, Partner at Stellaris Venture Partners.