Slintel, a predictive sales, and marketing intelligence platform has raised $4.2 million in Series A funding led by Accel Partners, with participation from Sequoia Capital India and existing investor Stellaris Venture Partners.
The Mountain View, California-based startup plans to utilize the capital to aggressively market itself and grow its customer base, focusing on segments such as enterprise software, pharmaceuticals, education, and gaming.
“Our product focuses on identifying buying intent and that has never been more important after the pandemic struck,” said Deepak Anchala, cofounder and CEO at Slintel.
Slintel gives customers information about upcoming contract renewals, companies that show signs of buying their products online, or companies that use products of their competitors, Anchala added.
Slintel said revenues have grown multi-fold in the last year and it now has over 100 customers.
The company, which witnessed a slowdown in buying intent in the second quarter, said there has been a bounce-back in the third and fourth quarter of the calendar year, especially in categories such as enterprise software.
It said customers have seen sales opportunities grow 2-3 times after adopting its product, more than doubling their opportunity pipeline, which is also driving a significant amount of inbound marketing. Slintel will continue to focus on growth in the US market, it said.
“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.
Slintel said its platform captures about 100 million data points each week from various sources to build sales recommendations for its customers. It delivers these as targetable accounts to the sales and marketing divisions of companies that build solutions to service these enterprises.