AI sales solution Amy raises $6 million in Seed to automate pre-meeting research
The company will use the funds to enhance its AI, NLP, and machine learning capabilities and launch its B2P solution to the market
Amy, an AI-driven sales intelligence solution that automates pre-meeting prospect research and helps with business connections, has announced that it has raised a Seed round valued at $6 million. The round was led by Next Coast Ventures and Lorne Abony, with additional investors including Jim Mellon and Eric Ludwig, Micha Breakstone, Joey Low, and James Kong among others. Amy will use the funds to enhance its AI, NLP, and machine learning capabilities and launch its B2P solution to the market.
"The pandemic completely upended the way in which business professionals conduct meetings and close business deals, however, one thing remains the same: the importance of building strong, meaningful relationships," said Nimrod Ron, Co-founder and CEO of Amy. "At Amy, we've automated the prospect research and meeting preparation process – which takes on average 17% of the workday – so that business professionals can focus on establishing authentic relationships with their customers, closing deals, and excelling at what they do. We help salespeople create a lasting network of connections that transcends their current role, boosting long-term sales prospects."
According to Ron, Amy was started because he considered his network one of his most important assets. To maintain it, every month he spent time reaching out to contacts to keep relationships going - something that became harder as his network grew and updates became unmanageable. “Everything is personal and building a product that provides the necessary information to build relationships at scale can have a huge impact,” the company told CTech.
Amy’s sales intelligence platform helps the time and money of sales professionals while also improving business outcomes by automating prospect research and by providing actionable insights that can generate long-lasting business relationships. It analyzes all publicly available information about a business prospect and transforms random data into digestible briefs that contain insights about the prospect and the company they work for. Amy’s algorithm collects information and via its NLP technology can extract and present personalized meeting briefs that hold personalized information relevant to business professionals.
Amy’s competitors include sales intelligence tools like ZoomInfo, Apollo, and Lusha, but the company claims these solutions are typically built for prospecting and don’t provide the level of deep analysis on both the individual and company-level to create strong, personal business connections.
"There is a clear market need to optimize meeting experiences, given that the average professional spends hours each day in meetings - Amy's offering addresses this need by tapping into the art of human connection in business,” said Michael Smerklo, Co-founder & Managing Director of Next Coast Ventures. Lorne Abony called Amy’s solution a “real game-changer” and it “represents the next generation of sales tools.”
By automating pre-meeting prospect research, Amy helps business professionals focus more on building relationships with customers and driving sales. The company is in Beta selling to Israel n the U.S and is headquartered in Tel Aviv and has offices in Austin, Texas. Its solution is already available for users and was ranked the top spot on Product Hunt during its alpha-testing stage. Amy intends to invest in its technology and expand its presence in English-speaking markets around the world.