Singapore-based revenue operations solutions provider Nektar.ai is tackling the problem of “CRM data leakage” and launched the general availability of its artificial intelligence (AI) based revenue activity intelligence and capture solution.
Nektar said in a statement that its no-code platform automatically captures revenue activity data from email, calendar, chat and social media across all customer lifecycle touchpoints. .
Backed by B Capital Group, 3One4 Capital and Nexus Venture Partners, Nektar raised a $6 million funding round in August 2021 and had worked with early clients in stealth mode.
“In this downturn, where capital is becoming expensive, we are seeing the consequences of the ‘growth at all costs’ mindset: budget cuts, layoffs (particularly within the GTM teams) and reduced revenue. Achieving (hyper)growth with minimal resources requires a different mindset,
“We have now entered the era of ‘Productivity at all costs’. The focus should be on capital-efficient growth. Nektar’s Revenue Mining Platform promises automated CRM data enrichment, rep productivity and revenue predictability,” said Abhijeet Vijayvergiya, CEO and Co-Founder of Nektar.
According to the release, RevTech solutions are rapidly gaining popularity for their ability to deliver predictable revenue growth. However, most solutions rely on CRM data, which is still incomplete and outdated. Bad data also leads to bad information.
That’s why Nektar has taken a radically different approach – making it a timely solution, especially in this downturn.
“We decided to get to the root of the problem of predictable growth – which we found to be siled revenue data. So we adopted a data-driven strategy where we capture data from customer-facing teams. customers (prospecting, pre-sales, sales, customer success, account management) GTM (Google Tag Manager) tools – inbox, chats, calls and social networks and unifies them within the CRM,
“By reestablishing the CRM as a true system of record, management teams can rely on more comprehensive performance reports and gain unprecedented visibility into their pipeline activities. We also deployed a lego-like backend architecture that makes Nektar easy to use and flexible to meet unique and advanced use cases,” said Aravind Ravi Sulekha, CTO and Co-Founder of Nektar.
Nektar also addresses popular pet peeves of sales leadership teams – software adoption and the return on investment (ROI) of the sales technology stack. This is where Nektar’s artificial intelligence comes in.
A significant portion of its $8.1 million seed fund has been invested in data science capabilities. The entire data capture process (across all tools) requires zero user adoption – it’s fully automated.
This allows customer-facing teams, especially sales reps, to focus more on revenue-generating activities.
Additionally, since Nektar fills all the data gaps in a CRM, other sales tools (that rely on CRM data) are starting to get smarter as they are powered by cleaner, more comprehensive data.
Nektar is a fully remote work from anywhere business that has grown to 32 people across 7 countries with over 1500+ users on the platform.
Now that the startup is out of hiding, it will spend the rest of the year focusing on its go-to-market strategy and on hiring.
Nektar also hopes to recover some of the recently laid off tech talent.
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