[Funding alert] B2B buyer intelligence startup Slintel raises $20M in Series A round led by GGV Capital
B2B buyer intelligence startup Slintel has raised $20 million in Series A funding led by GGV Capital, a global venture capital firm known for its investments in companies such as Airbnb, HashiCorp, Peloton, Poshmark, Slack, Square, StockX, and Wish.
The round also saw participation from existing investors Accel, Sequoia Capital India, and Stellaris Venture Partners.
The startup had raised $4.2 million in October 2020. It reported that its revenue and customer base has grown by more than 5X in the last 12 months.
Slintel plans to use this capital to expand globally and build a powerful, reliable marketplace for B2B sellers and buyers.
A statement shared by the company said the company aimed to establish itself as a leader in this category with the backing of GGV Capital.
“The Slintel team is delighted to welcome Hans Tung as its newest board member. We look forward to deepening our solution to power use cases across different GTM functions," said Deepak Anchala, Co-founder and CEO, Slintel.
The team added that B2B buyers are now more digital and buyer intelligence is taking over traditional sales and marketing intelligence as more people buy online. The company stated by 2025, 80 percent of all B2B buying will occur on digital channels.
It stated Slintel helps go-to-market teams understand where buyers are in their journey, what their pain points are, their adoption of technology, and churn data to get a 360-degree view of the buyer.
Hans Tung, Managing Partner at GGV Capital, stated, “With the global pandemic completely changing the way companies operate, B2B transactions have gone more digital than ever before. Inside sales teams are closing high-value, multimillion-dollar deals while working remotely, and products like Slintel are enabling companies to do this by helping them reimagine their entire sales process for today’s environment.”
Founded in 2018 by Deepak Anchala and Rahul Bhattacharya, Slintel was built to uncover various forms of buying intelligence to make the process of identifying high-intent prospects much simpler, more intuitive, and completely data-driven.
They had discovered that sales organisations needed to reimagine their processes in order to achieve better efficiency and scale faster.
The duo found that identifying companies using traditional, beaten-down parameters such as territory, size, industry, or similar companies is an inefficient undertaking that costs marketing and sales professionals valuable time, resources, and effort.
Madhu Yalamarthi, Vice President at GGV Capital, said, “Deepak’s decade-plus experience leading product, growth, and sales functions gives him the superpower of seeing where the puck is going and rallying people from diverse groups to capture this opportunity."
Both Hans and Madhu are joining the board of Slintel.
Using predictive algorithms
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.
Slintel has built an engine that captures buyer intent signals at scale and uses predictive algorithms to determine the purchase decisions of prospects.
Alok Goyal, Partner at Stellaris Venture Partners, said, “The next big wave in the enterprise space is (the) use of AI to rethink processes, and all AI at its core requires data. I am therefore bullish on the entire data stack, including data that is either proprietary or inferred data that is not easy to replicate. Slintel is in the second category. Their ability to predict strong prospects is a relatively unique capability, and it is very easy to sell due to a direct correlation to (the) top line for their customers.”
The company stated buying intent is the fastest-growing category in the $24 billion sales and marketing intelligence space.
Prayank Swaroop, Partner at Accel, said, “Slintel has one of the best GTM engines that we’ve seen in any startup, and the consistency with which the team has been able to deliver on their growth targets is commendable. We’re looking at a company that’s changing the marketing and sales intelligence sphere as we know it."