SalesPredict has raised $1 million in seed funding for its predictive analytics platform designed specifically for sales and marketing staff. The investment was equally led by Pitango Venture Capital, AfterDox and RSL Venture Partners with participation from angel investors.
“We are not trying to resolve a generic problem,” said Co-Founder Yaron Zakai-Or. “We are taking generic algorithms to work for salespeople.”
The algorithms, built into a SaaS developed by Co-Founder and CTO Kira Radinsky, formerly of Microsoft Research, is tightly integrated into Salesforce App Exchange. Customers will download the Sales Predict app from AppExchange when it’s available in the next few weeks and integrate the predictive analytics technology into their sales lead processes. The service will then score a company’s leads to help salespeople decide what to prioritize.
The leads are enriched with Salesforce data, social data and other information sources, such as website traffic from Alexa and data.com, the Salesforce contact database.
The company then looks at past data and characterizes the attributes that differentiate a good lead from one that is less likely to be fruitful. Over time, the model gets updated to account for changes in the lead pool.
Earlier this month, InsideView raised $19 million for its platform, which aggregates information and then adds it to a customer’s CRM installation. Lattice Engines also competes in this space as does Infer, which helps sales organizations add predictive scoring to their sales toolboxes.
And then there’s Salesforce, which has largely let partners provide analytics but now is showing interest with its acquisition of Prior Knowledge.
There is a lot of tough competition in the sales intelligence space, but there is plenty of room to provide customers with better ways to manage sales leads.