With B2B companies accelerating technology investment to increase sales conversions, buyer data insights providers are seeing increased demand. One such startup, three-year-old Slintel has now onboarded another investor – GGV Capital – as it raises $20 million (Rs.145 crore) in a series A round.
Slintel helps go-to market teams understand where buyers are in their digital journeys and their pain points, providing a 360 degree view of a buyer.
While GGV Capital led the latest round, other participants included returning investors Accel, Sequoia Capital India and Stellaris Venture Partners.
Slintel said it will use the fresh capital to expand globally and build a reliable online market place for sellers and buyers. Including the latest investment, the company has so far raised about $26 million.
“We look forward to deepening our solution to power use cases across different GTM functions.” CEO Deepak Anchala, said, according to a statement. Anchala co-founded the Mountain View, California based startup with Rahul Bhattacharya in 2018.
GGV Capital’s managing partner Hans Tung will now become a board member for Slintel.
“Inside sales teams are closing high-value, multi-million dollar deals while working remotely, and products like Slintel are enabling companies to do this,” Tung said about the investment.
GGV has made high profile investments in companies such as Airbnb, Slack, Square, StockX, and Wish, among others.
The Covid-19 pandemic has changed the way B2B players complete sales. By 2025, over 80% of all B2B purchases will be made online, per a September 2020 report by Gartner.
Slintel claimed that its revenue and customer base has grown by over five times in the last 12 months. Although they did not reveal the exact numbers, Slintel said it was one of the fastest growing companies in the purchase intent/buying intent solutions category, which is one of the fastest categories in the $24 billion worth marketing intelligence space.
“I am bullish on the entire data stack, including data which is either proprietary or inferred data that is not easy to replicate. Slintel is in the second category,” Alok Goyal, Partner at Stellaris Venture Partners.