Series B Round Will Fund Commercial Expansion, Customer Acquisition, and Data Science Advancements
SAN FRANCISCO, CA – October 23, 2018 – (PR Newswire) – People.ai, the artificial intelligence (AI) platform for enterprise revenue, today announced a $30M Series B funding led by Andreessen Horowitz (a16z). Also participating in this funding round were Series A investors Lightspeed Venture Partners (lead), GGV Capital, and Y Combinator. This new financing will be used to fund People.ai’s data science efforts, continued commercial expansion, and customer acquisition. People.ai’s current customers include Palo Alto Networks, Lyft, and New Relic. Peter Levine, General Partner at a16z, will join the People.ai board.
People.ai Founder and CEO Oleg Rogynskyy: “We are excited to have Andreessen Horowitz lead our Series B round to help us expand our business as we help more enterprise companies accelerate top-line growth and grow their market reach.
In this digital world, businesses have to differentiate themselves quickly. People.ai helps enterprise businesses unleash the power of AI by delivering critical intelligence and automating time-intensive tasks.
By analyzing your company’s data, the People.ai platform understands what sales activities will be successful to get your deals done and when to focus on which customer accounts. Our platform captures all sales, marketing, and customer success activity data across email, calendar, phone, and other systems to automate over 90% of CRM data entry, and identify the right buying group for every deal. Through automation, our platform gives every sales rep at least one day per week back on their calendar.
At People.ai, our mission is to help companies deliver on the true meaning of predictive enterprise. Our platform will dramatically improve your top-line growth; increase your sales, marketing, and customer success efficiency; and promote cross-functional alignment.”
“We believe People.ai will become one of the foundational companies of next generation SaaS. The unique combination of SaaS and machine learning finally enables organizations to automate data collection and apply that data to improving productivity and efficiency across sales, customer service, and marketing. We’ve been impressed with the traction that the team has made with some of the largest organizations, and the combination of business acumen and technical capability of the leadership team. We’re thrilled to partner with them moving forward!”
– Peter Levine, General Partner
Lightspeed Venture Partners:
“At Lightspeed, we’ve been fortunate to have partnered with some of the fastest growing enterprise companies of the last decade, and the common ingredient has been great sales and marketing execution. People.ai brings the power of data and intelligence to the sales and marketing team, to supercharge their execution, and it’s not surprising why some of the largest and the best enterprise go-to-market teams are adopting it rapidly.”
– Nakul Mandan, Partner
Palo Alto Networks:
“We have made significant data science investments in marketing and a few years ago even built a People.ai equivalent in-house. We were looking for a way to bring in sales, marketing, and customer success activity data into our advanced predictive models around deal scoring, employee effectiveness, and churn analysis. Luckily for us, People.ai built it right and it has freed up our data scientists’ time to focus on other complex projects. People.ai has already paid for itself multiple times over.”
– Erik Bower, VP of Global Marketing Operations
“Our sales and customer success management team received immediate value from implementing People.ai. And now that our data set is larger, People.ai is able to provide us with actionable insight into our strategic accounts and how to have an even bigger impact with our customers. Their intelligence points our team to areas we need to focus on to maximize the value we create for our customers. This platform has become our trusted source for helping improve our sales team’s performance.”
– David Baga, Chief Business Officer
“Everyone is talking about the data they are collecting but People.ai stood out from the crowd with an application of AI that we know will give us a better way to run our business. By looking across all revenue generation activity from inside sales all the way to post-sales and identifying where we can accelerate opportunities, or highlight where there is risk, People.AI will deliver better ROI for us and our customers. We are excited to be on this journey with them.”
– Art Harding, Group VP GTM Strategy & Operations
People.ai helps sales, marketing and customer success teams uncover every revenue opportunity from every customer. Companies like New Relic, Tanium, Lyft, Okta, and Mulesoft choose People.ai to capture all customer contacts, activity and engagement to drive actionable insights across all Enterprise revenue.
Founded in 2016 and based in San Francisco, People.ai is backed by Y Combinator and Silicon Valley’s top investors, including Andreessen Horowitz and Lightspeed Venture Partners.
For a free assessment of your enterprise’s sales, marketing and customer success activity and to learn how your team can benefit from day one with the People.ai platform, please contact email@example.com or call (888) 997-3675. We will respond to you in 24 hours or less.
Andreessen Horowitz (Lead in Series B)
Andreessen Horowitz backs bold entrepreneurs who move fast, think big, and are committed to building the next major franchises in technology. Founded by Marc Andreessen and Ben Horowitz, the firm provides entrepreneurs with access to expertise and insights in innovation, executive and technical talent, market intelligence, business development, and marketing and brand-building. Find us in Menlo Park, Calif., and at www.a16z.com.
Lightspeed Venture Partners (Lead in Series A)
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally, including Snap, The Honest Company, GrubHub, Nest, Nutanix, AppDynamics, and MuleSoft. The firm currently manages over $6 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com.