Vymo, an intelligent sales engagement platform for financial institutions, has raised US$ 22 million in Series C funding round led by Bertelsmann India Investments with existing investors Emergence Capital and Sequoia Capital participating. As part of the financing, BII’s Rohit Sood, will be joining the company’s board.
“2021 was a momentous year for us: 20 per cent+ quarterly growth, 142 per cent NRR, zero logo churn, entry into the US with wins like Berkshire Hathaway, and onboarding some of the largest Insurers in Japan. Sales tech is a US$ 10B+ opportunity in just these two countries and this fundraise will help us accelerate our growth plans for these markets,” said Yamini Bhat, Co-founder and CEO.
Post pandemic, coaching remote sales teams has become a huge challenge for enterprises. Sales managers cannot observe their teams in action and lack of timely coaching and interventions is driving ~40% attrition in sales teams and a breakdown in productivity. CRMs, with < 30 per cent adoption within sales teams, do not capture the behavioral signals required to identify skill-will gaps and assist sellers and managers with pre-emptive guidance.
“Vymo is building the next generation of intelligent sales automation tools driving huge and direct impact on its clients’ toplines across the globe. The engagement on the product is something we have never seen before in any product in any field. Yamini and Venkat’s market understanding and execution focus is exceptional and we are delighted to partner with them,” said Rohit Sood, Partner, BII.
