Growbots bagged $2.5 Million for its sales automation platform based on machine learning

Growbots bagged $2.5 Million for its sales automation platform based on machine learning

Business

Machine learning is steadily acquiring the corporate processes that were once dependent on the traditional sales methodology. GrowBots, a company that believes in automating things when it comes to sales, received a funding of $2.5 Million from the Buran VC, Lighter Capital, and various angel investors. Including the amount received in a recent funding, the total goes to $4.2 Million so far.

Growbots utilizes machine learning to deliver sales teams with precise leads to ramp-up their outbound sales practice. The company, based on its service claims that by using these products, the sales team can save their days of work per month.

The company analyzes the effectiveness and results of the service based on the data that comes from their own CRM. This helps the Growbots to know more about the customer’s demand and experience, to extract data, and manipulate the target lists as per the evaluation.

CEO and Co-founder of Growbots, Greg Pietruszynski, says that the AI-based algorithms can create well-crafted contact list instantly, evaluate individual and team results, compile every surpassed campaign, and handle their inboxes. This ease in the process will help every sale person to emphasize on communicating only with potential clients.

To accomplish this, the company has accumulated a list of 200 Million potential leads from variable sources. The service applies its machine learning skills to understand loads of websites each day to fetch fresh data about the businesses and people. The company also claims that it is very selective in terms of sources, through which it gets data.

Once the outputs are rolled in, Growbots is supposed to constantly revise its algorithm based on the feedback it receives and improvises the efficiency of the upcoming campaigns based on the fresh data. Instead of investing days in searching and creating contact lists, the company assures productive outputs in minutes.

Among the other services such as campaign automation, Growbot makes sure it delivers sales teams a facility to modify emails automatically as well draft them in a manual way. It also sends follow-up emails automatically and reschedules emails.

Focusing on the performance of the company, it is experiencing a 10% growth monthly. The company also witnessed a $4 Million yearly run rate after selling its products for 16 months. Growbots has so far on-boarded more than 500 customers in which majority of them are in the U.S. itself, while it has the service available all around the globe.

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