Sybill.ai, a startup building an AI assistant for sales reps, has announced that they've raised $11 million in their Series A round. The round was led by Greycroft, with participation from Neotribe Ventures, Powerhouse Ventures, and Uncorrelated Ventures. This brings the company's total funding to $14.5 million.
If you've ever worked in sales, you know the pain of administrative work behind the scenes. It's a huge time-suck that keeps you from actually selling. Sybill's trying to fix that. Their AI assistant handles the boring stuff - taking notes, updating the CRM, drafting follow-up emails. They claim it can save reps hours each day.
Sybill is entering a crowded marketplace that's quickly being flooded with "AI" sales tools. So what makes them special? They say their secret sauce is looking at the whole picture. Instead of just analyzing one call or email, their AI considers everything throughout a deal. The idea is to give more accurate, context-aware insights.
The company was founded in 2020 by CEO Gorish Aggarwal, Nishit Asnani, Soumyarka Mondal, and Mehak Aggarwal; and they're growing fast. Last year, they went from making $100,000 to $1 million in just nine months. Now they've got over 500 customers across more than 30 countries.
But, this is a tough market. There are big players and new startups all trying to use AI to boost sales. Sybill's going to have to prove they can consistently deliver results that actually help sales reps perform better.
Sybill says they will use the funds from this Series A round will be used to further develop their AI assistant, enhance their product team, and continue scaling their operations. The company plans to increase its staff from 30 to about 40 by the end of the year, aiming to build out a world-class sales AI infrastructure.