Software services startup Slintel has raised USD 20 million in its Series A round led by global venture capital firm GGV Capital, with participation from existing investors Accel, Sequoia Capital India, and Stellaris Venture Partners. Hans Tung, managing partner of GGV Capital and vice president Madhu Yalamarthi, will join Slintel’s board, the company said in a statement.
This round of funding comes eight months after it raised USD 4.2 million from Accel, Sequoia, and Stellaris. According to Crunchbase, the company has raised USD 26 million to date.
Deepak Anchala and Rahul Bhattacharya co-founded Slintel in 2018 to offer software-as-a-service solutions to the sales teams of enterprises as they believe the buying process of B2B companies has become increasingly complex and traditional marketing and sales channels are not enough. Slintel estimates that by 2025, 80% of all B2B buying will take place on digital channels, which would require sales teams to have digital tools to identify and reach out to high intent buyers before they sign a deal with a competitor.
“Slintel decodes where buyers are on their journey and what they are most likely to buy. By combining insights on their purchase behavior, buying patterns, pain points, and focus areas, Slintel helps sales and marketing teams segment and prioritize buyers, thereby improving their conversion rates and helping them land more deals,” Anchala, co-founder and CEO of Slintel, told KrASIA.
The company has over 100 employees in India and the US. During the pandemic last year, when more and more enterprises had to shift their sales efforts to online channels, it saw many inbound leads from India and other Asian nations. “We have customers globally, spread across 20 countries. While our primary focus is the US from a customer acquisition standpoint, we also focus on APAC and the EU,” Anchala said.
In the last 12 months, Slintel said its revenue and customer base have grown by over 5x.
“Deepak’s decade-plus experience leading product, growth, and sales functions give him the superpower of seeing where the puck is going and rallying people from diverse groups to capture this opportunity,” said Madhu Yalamarthi, vice president at GGV Capital.