iNDICA NEWS BUREAU-
Slintel, a marketing startup based in Mountain View, California, and Bengaluru, India has raised $4.2 million in a funding round led by Accel, with participation from Sequoia Capital India and existing investors Stellaris Venture Partners.
The announcement came on Tuesday. According to the startup, the funds will be used to capture market share in the US market as it strengthens its product. Slintel, which currently has 35 employees, will also double its team size, through this funding.
The two-year-old, software-as-a-service (SaaS) startup, helps companies target customers better, by identifying high-intent buyers, through analyzing several data points and leveraging artificial intelligence (AI) for engagement.
“The new investment will enable us to double down on our vision of helping sales and marketing teams find buyers that are most likely to engage with them. The investment from this round will be used to strengthen the product and capture market share aggressively, given the velocity at which we have been able to add customers over the last year,” said Deepak Anchala, CEO and founder at Slintel.
The company currently has close to 100 customers, with 80% of its revenues coming from the US market. It also has customers in Europe and Asia-Pacific regions.
“Slintel’s growth is driven primarily by the unique value proposition of the product and the demand for it in the market today. Slintel’s platform enables its customers to identify prospects that have a high probability of purchasing their product or service,” said Prayank Swaroop, partner at Accel.
With its technology teams based in Bengaluru, Slintel plans to repeat its growth numbers in FY’ 21 and reach a base of 300 customers by 2022.
“The team’s ability to improve the opportunity pipeline for sales leaders while reducing overall spend has been admirable. Deepak and his team have an opportunity to build Slintel into a global leader in their category,” said Alok Goyal, Partner at Stellaris Venture Partners.