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Information overload from ad campaigns, email marketing, and a companys website means that buyers are equipped with more than a basic understanding of a product or service well before a sales meeting. This means sellers need deeper product knowledge and easy access to proprietary company information to win new customers. However, the current sales tech stack does not support this foundational shift in the role of sales and presales teams.
AI platform for sales SiftHub has today raised $5.5 million in seed funding to help sales and presales teams discover knowledge and generate responses to customer needs immediately. The funding round was led by Matrix Partners India and Blume Ventures with participation from Neon Fund and executive operators and founders from Superhuman, Cloudflare, DevRev, RazorPay, and SuperOps.
SiftHubs AI platform is changing how sales and presales teams discover up-to-date information and generate accurate responses grounded in company knowledge. No more Ill get back to yous that could lead to a lost opportunity. One-click integrations with workplace apps such as CRM, content repository, knowledgebase, and more allow SiftHub to bring all enterprise knowledge into a single, accessible hub. Its unified semantic search capabilities make it easy to find the right information at the right time without toggling between screens.
After speaking to 200+ leaders, it dawned on me that its completely unreasonable to expect sales and presales professionals to memorize all the ins and outs of the product in order to be able to respond to clients with complex technical details. Trying to find up-to-date accurate information when it is scattered across Slack, Gmail, Drive, HubSpot, Confluence, and more is incredibly difficult. The fact that sales spends only 30% of their time selling cries for a change – and thats where our platform comes in. said Manisha Raisinghani, Founder of SiftHub.
SiftHub is uniquely positioned to deliver secure, private, access-controlled answers that trace back to the source. Using RAG technology and fine-tuned LLMs with industry-specific knowledge training, SiftHub allows companies to generate personalized responses with zero hallucinations. This guarantees increased transparency and reduced risk and inspires absolute trust to use AI for all their needs.
Now, sales teams can finally focus on what they do best – selling! SiftHub simplifies the usually time-consuming back-and-forth between sales and various other teams as a deal progresses. With its easy-to-use project management and seamless workflow automation capabilities, the platform helps streamline collaboration between teams as they complete infosec questionnaires, vendor assessment forms, RFPs, and RFIs.
SiftHub was founded in July 2023 by Manisha Rasinghani, a second-time founder. Before SiftHub, she co-founded LogiNext as CTO and raised over $50m from Tiger Global and others.
GenAI is not just a technology, its a revolution in productivity. It unlocks the ability to solve a legacy problem in a modern way improving efficiency by 80%, said Manisha Raisinghani, By integrating GenAI with advanced workflow automation and collaborative capabilities, were providing an end-to-end solution for our users. From the moment the first information request is received to the closure of each sale with satisfactory responses, SiftHub will remain a trusted partner for sales organizations.
Pranay Desai, Managing Director at Matrix Partners India commented: "Buyers have become smarter and engage sales later in the buying journey, with more advanced questions. As a result, the expectation from sales teams has changed – they need to know advanced product, technical, and legal information to get the win. Sales and presales teams lack the necessary tooling to handle this new selling environment. We are excited by SiftHub's vision to use AI to manage product knowledge so that sales can focus on relationships."
Sanjay Nath, Partner at Blume Ventures, said, SiftHub is Manishas second venture in the SaaS space. Armed with over a decade of entrepreneurial experience and an impressive track record, Manisha and her team are building a game-changing AI platform to transform the entire sales and presales process. We are excited to back the SiftHub team and be a part of their ambitious journey.
About SiftHub
Founded by Manisha Raisinghani, SiftHub is an AI platform that acts as a central hub to collate and sift through all your content scattered across multiple repositories and tools. Through accelerated knowledge discovery and automated response creation, SiftHub empowers your sales and pre-sales teams to improve win rates and close deals faster. Headquartered in the United States, SiftHub also has an R&D office in Mumbai, India.
About Matrix Partners India
Founded in 2006, Matrix Partners India invests in companies targeting the consumer and enterprise market at the seed, early and early growth stages. The firm has invested in several enterprise technology companies such as MoEngage (Customer engagement platform), Toddle (Teaching & learning platform), SuperOps.ai (AI-powered PSA-RMM platform), Rocketlane (Customer onboarding platform), Murf AI (Synthetic speech technology), 100ms (Live video infrastructure) and Atomicwork (Employee success solution) amongst others. Other marquee investments include Dailyhunt (Local language platform), Five Star Business Finance (SME lending), OfBusiness (B2B commerce, fintech), Ola (Mobility), Ola Electric (Electric vehicles), OneCard (Mobile-first credit card), Oxyzo (Tech-enabled smart financing), Razorpay (Payments), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), and Mosaic Wellness (Health & wellness), among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.
About Blume Ventures
Blume Ventures is an early-stage India-focused venture fund that backs startups with both funding as well as active mentoring. Blume typically invests in Seed and pre-Series A rounds in tech-led startups led by founders obsessed with solving hard problems for the Indian market and from India for the world. Blume presently invests out of Fund IV, a $300M vehicle supported by leading institutional LPs and family offices. With the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $600m, managed by an investment team based across Bengaluru, Mumbai, Delhi, and San Francisco. Some of the leading startups we have backed included Purplle, Unacademy, Spinny, slice, Carbon Clean, and GreyOrange.
Contact Details
SiftHub
Bilal Mahmood
+44 7714 007257
b.mahmood@stockwoodstrategy.com
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/ai-platform-sifthub-raises-5-5m-as-it-rescues-sales-and-presales-teams-from-repetitive-tasks-606622955
SiftHub
COMTEX_450277199/2655/2024-04-03T09:03:59
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