Salesken.ai, an AI-powered platform for salespersons, announced that it has secured US$8 million in a series A funding round led by Sequoia India. The round also saw investors Unitus Ventures and Michael and Susan Dell Foundation making a partial exit, according to a statement. The Bengaluru-based startup said it will use the new funds to further develop its AI conversation intelligence platform and expand across Asia Pacific and North America.
Salesken, which started commercial operations in 2019, uses machine learning and data science tools to learn industry best practices and sales tactics used by top-performing salespeople. Sales teams using the platform receive intelligence on various aspects of the sales pitch, including lead qualification and pricing discussions. The technology also helps them gauge the sentiments of their customers during conversations. Inside sales, which employs over 20 million people globally, is a rapidly growing industry worldwide with nearly 48% of all sales teams now selling products over the phone or web conferencing tools, according to Salesken.
“Companies squander a third of their customer acquisition costs on preventable lead losses. They also face the unpredictability of sales outcomes and an inability to replicate success at scale,” said Surga Thilakan, co-founder and CEO at Salesken. “Salesken.ai helps them by enabling sales teams in real time, during their customer conversations, and in adopting a more scientific approach to sales management.”
The global conversational AI market is expected to grow to US$15.7 billion by 2024 from US$4.2 billion in 2019, with a compound annual growth rate of 30.2%, according to a report.