Zomentum, a San Francisco-headquartered SaaS startup with its R&D centre in Bengaluru, has raised $13 million in Series A round from Elevation Capital, Accel, and Greenoaks Capital. The round also saw participation from Eight Roads Ventures.
Zomentum is an IT sales acceleration platform that helps IT channel partners and enables SMBs to leverage the best of the breed IT solutions. Founded in 2018, this startup last raised funding in July 2020 in a seed round of $4.1 million.
Rahil Shah, Co-founder and CTO, Zomentum, said, “I think Zomentum is perfectly poised to leverage the advances in data science. Building a data-ready platform with a solid foundation to bring in AI enhancement has led us to the point where our customers will soon be able to mine actionable insights and make smart business decisions."
According to Zomentum, its platform allows IT channel partners to close deals 2X faster and upsell 6X of their standard deal value consistently with a higher win-rate.
Shruti Ghatge, Founder and CEO, Zomentum, said, “Zomentum has already demonstrated its immense value as a powerful platform for IT channel sales and already fuels more than $100 million worth of IT transactions. The software is ready to augment IT sales further using data-science and Machine learning.”
According to Shruti, it is already empowering channel partners with enough data and turning IT sales into a game of chess and strategy instead of a game of darts where sales conversions are a hit or a miss.
“By building a highly value-driven and informative IT sales academy, Zomentum aims to engage the partner community and be the one place they go-to for everything related to managed service provider (MSP) sales,” she said.
According to the founder, Zomentum has had 12 months of rocketship trajectory and the vision is to nurture a trusted IT channel partner network with a strong customer success focus to fuel the next $600 billion in IT economic activity for small and medium businesses worldwide.
Edited by Saheli Sen Gupta