Today, is another big day in our company. We announced our $60M Series C funding led by ICONIQ Capital and the launch of The Wire, the next phase of our mission to turn data into actionable intelligence. The Wire directs front office employees to take the best next action for sales, marketing, and customer success employees. These are exciting times for those of us at People.ai, but more than anything, we’re thrilled for what this means for our customers and how they their revenue will be supercharged by the power of AI.
Since our founding in 2016, the artificial intelligence of People.ai’s Revenue Intelligence System has been trained on 350 million sales activities, nearly 40 million executives, $1 trillion in pipeline, and over $100 billion in closed/won deals. The company grew revenue 500% year-over-year in 2018 and now powers top-tier enterprises such as Red Hat, Lyft, Zoom, New Relic, Splunk, and more.
It wasn’t long ago that we were focused on solving the question of capturing all activity data from customer-facing teams and eliminating the time-consuming work of manual data entry, thus making sales teams more productive. That’s where we started with our Series A and got backed by Lightspeed Venture Partners in 2016. Then, we focused on how to make teams more effective with better analytics from the data and got support to do just that from Andreessen Horowitz in 2018. We’ve now solved these questions and are now building on top of them, with Iconiq Capital support.
Today, we’re leveraging the full power of People.ai’s Revenue Intelligence System, Intelligent Matching, and PeopleGraph to give teams the intelligence they need to make better decisions and focus their efforts on the best next action to take each day. “The Wire,” is a real-time feed of best next actions to provide sales, marketing and customer success teams with AI-driven intelligence, task prioritization, and one-click execution.
When people know which actions will have the highest impact, they can be more productive and more effective. It not only makes hitting revenue targets easier, it takes the guesswork out of what to do each day to create the most value and success.
I am incredibly proud of what we have built so far. With this new funding and “The Wire,” I see this next phase of People.ai’s journey as one that will truly revolutionize the way customer-facing teams achieve success, reach their target audiences, and win more customers.
It’s the vision of what the future can be, massive network effects we are seeing, and the fact that we’re making that vision happen that has brought ICONIQ Capital to lead our new round of funding. Series C also includes participation by Andreessen Horowitz, Lightspeed Venture Partners, GGV Capital and Y Combinator. With their support and our team’s hard work, we’re delivering the intelligence to drive revenue that will positively impact enterprises around the world.
I am most proud of the team we’ve built. All 120+ of us at People.ai are focused on helping our customers be more productive and effective using the power of AI in their business, and every day as we walk past the customer logos and pictures of our champions on our wall, we are reminded of why we are here. In three short years, we’ve scaled our business to help some of the worlds best brands drive amazing results from our product, like New Relic detailed here: case study, and we are just getting started!
As always, if you want to learn how People.ai can help with your revenue generating teams, I’m Olegr@People.ai