Vymo, a Bangalore-based startup which runs a predictive sales analytics platform, has today raised $5 million in its Series A round of funding from VC firm Sequoia Capital. This is the very first funding round for the company.
With the new funding raised by the company, it will use the funds to deepen its research and development (R&D) initiatives and expand its presence in international markets in regions such as the Middle East and Asia Pacific.
Yamini Bhat, co-founder and chief executive of Vymo, said,
Sales tools typically add effort for the sales representative and give value to the sales manager. Vymo’s solution requires low or minimal data input and enables the sales representative to be more productive. Vymo uses data from 25,000-plus sales representatives to map out skills and provide real-time recommendations, helping its users choose their most efficient course of action.
Vymo was founded in the year 2013 by Venkat Malladi and Yamini Bhat. It builds web and mobile applications for automating sales force activities and driving sales effectiveness. It partners with its clients to help them institute sales practices into their daily routine through simple tools.
It is a mobile-first Personal Sales Assistant. It can predict what a rep should do next and coach him on-the-go to close more, faster. The company’s aim is to help its clients achieve an unprecedented degree of sales productivity and effectiveness, and it brings together the combined experience of its team to achieve this.
Its apps and web dashboards help both on-field sales and service teams to improve their productivity. Clients across the globe rely on its analytics platform to gain insights about their on-field activities and make decisions.
The startup counts financial institutions like Housing Development Finance Corp. Ltd, SBI Life and AXA among its over 25 clients. As per the company, its biggest customers have reported more than 25% improvement in their productivity after deployment of the solution.
Venkat Malladi, co-founder and chief technology officer at Vymo, said,
We use signals and context like location, phone calls, calendar, source of lead, time of day and so on, to understand the most important actions the sales representatives need to take, and help them prioritize. We also learn from the actions they are taking and correlate them to their success.