● The funding will be used to scale and expand its teams in engineering, customer success, sales & marketing.
● The investment is led by Southeast Asia-focused early-stage tech VC firm Monk’s Hill Ventures. GREE Ventures, Wavemaker Partners, and Y Combinator (‘YC’) also participated in the round. All the participating firms also invested in the seed round.
● Saleswhale was part of the YC 2016 Summer cohort, the seed startup accelerator and incubator of tech unicorns including Airbnb and Dropbox.
Singapore, 24 April 2019 – Saleswhale, the leading AI sales assistant for mid-market and large enterprises, has closed a US$5.3 million Series A funding round, led by Monk’s Hill Ventures.
The company, based in Singapore, plans to use the investment to expand its teams in engineering, customer success, and sales & marketing. The investment will also extend the Saleswhale offering to meet growing demands from enterprise customers globally, including features such as Salesforce integration and enterprise work flows.
Saleswhale CEO and Co-Founder Gabriel Lim said, “We believe that AI assistants will become ubiquitous in the near future for global enterprises, as C-suites recognise that automation is essential to scaling. Chief Marketing Officers and Directors today need a scalable and cost-efficient solution that delivers a return on investment, bridges the sales-marketing gap, and supports sales teams in qualifying genuine buyers.”
Current clients of Saleswhale include over 145 teams from mid-market and Fortune 500 enterprises such as Randstad, General Assembly, and Unit4. In 2018 alone, Saleswhale AI Assistant generated close to $60M in sales pipeline from qualified leads.
“With Saleswhale, we are able to generate 2.5 times more qualified leads and meetings for our Client Solutions team – making it the best tool in closing the gap between sales and marketing,” said Rena Tan, Regional Marketing Director of Randstad Southeast Asia.
Saleswhale’s proprietary AI technology supports sales and marketing teams by automating the lead engagement and qualification processes. When a lead is ready for a sales conversation, the AI sales assistant hands them off to a (human) sales person.
“Marketing dollars are too often lost when leads are not effectively qualified or followed up on. Good and genuine leads fall through the cracks in the hand-off from marketing to sales. The Saleswhale AI Sales Assistant platform closes this gap, stems the leakage and leads to real top-line impact for enterprises. This is not theoretical - Saleswhale’s customers are already enjoying real benefits. We believe the Saleswhale team is creating the category-defining solution and are pleased to be a partner in this journey,” said Kuo-Yi Lim, Co-Founder and Managing Partner of Monk’s Hill Ventures.
Kuo-Yi will also be joining the Board of Saleswhale.
Saleswhale is the leading artificial intelligence (‘AI’) sales assistant for mid-market and large enterprises globally, based in Singapore.
Saleswhale’s AI Assistant works with sales and marketing teams to identify and qualify genuine buyers at scale. The AI Assistant can initiate contact, engage, and follow up with thousands of leads at scale, in a human and natural way.
Since 2016, Saleswhale has helped over a hundred Fortune 500 and mid-market businesses uncover sales opportunities from initial leads. Using Saleswhale’s AI saves companies the time and cost needed to identify genuine buyers from tens of thousands of leads in their databases.