Join us in Atlanta on April 10th and explore the landscape of security workforce. We will explore the vision, benefits, and use cases of AI for security teams. Request an invite here.
GTM Buddy, an AI-powered sales enablement platform, today announced it has raised $8 million in series A funding to drive revenue growth, enhance sales enablement and become the answer to “leaky” sales funnels – an issue that the company’s founder and CEO, Sreedhar Peddineni, said can be a costly one. The funding was raised in partnership with Archerman Capital and Leo Capital, along with participation from Neon Fund and Stellaris Venture Partners.
The funding announcement came with the unveiling of new offerings, such as GTM Buddy’s AI-powered Sales Success solution, which includes dynamic sales plays and offers templates populated using AI. Other products under the Sales Success umbrella include the “Ask Buddy” generative AI feature which utilizes a prompt engineering studio to provide instant answers to sales representatives, offer sales guidance and assist sales reps with emails.
Also included within the Sales Success rollout is GTM Buddy’s Namedrop tool, which delivers “social proof” and testimonials to a rep’s inbox, along with competitive intelligence, persona insights and integration with tools like Slack. In terms of pricing, Peddineni notes that the company will charge on a monthly per-sale basis, taking into account the number of sales reps. Given its AI-centered offerings, the company is considering consumption-based pricing or usage-based pricing, to potentially be implemented later this year. The company expects sales success to complement its other products, such as learning management, content management and digital sales solutions and will be available to customers throughout Q2 of 2024.
Credit: GTM Buddy
VB Event
The AI Impact Tour – Atlanta
Continuing our tour, we’re headed to Atlanta for the AI Impact Tour stop on April 10th. This exclusive, invite-only event, in partnership with Microsoft, will feature discussions on how generative AI is transforming the security workforce. Space is limited, so request an invite today.
Apart from overcoming specific customer objections and pain points, GTM Buddy, also known as “Go To Market” Buddy, notes that the biggest challenge sales reps currently face exists within the five sales funnel stages: qualification, discovery, demo, proposal and finally, the contract. The ongoing issue, which the company refers to as a “sales execution gap,” within the leaky sales funnel leads to conversion rates dropping between stages in the sales process, and GTM buddy claims that this results in lost revenue.
“How do we help our customers? How do we help sales reps win more, and win more consistently,” said Peddineni in an interview with VentureBeat. Peddineni explained that sales funnel leaks occur when sales reps are not equipped with the specialized tools needed to execute a sale. Potential buyers may not feel confident that the reps understand their issue, and may not progress through to the final contract stage. GTM Buddy seeks to fill in the gaps by leveraging AI to improve sales rep effectiveness.
Peddineni also co-founded the financial success company Host Analytics, now known as Planful, as well as customer success company Gainsight, which was acquired by Vista for $1 billion in 2020.