Delhi and San Francisco-based sales acceleration startup SquadStack has raised $5 million in a Chiratae Ventures led Series A funding round which also had participation from existing investor Blume Ventures. The startup would immensely help those companies who deal with trying to sell services and high-ticket products across industries in improving their funnel efficiency and sales conversions. Saswata Shankar De (GM of SquadIQ business at SquadStack) said that they have worked across industries because lead qualification and conversion is a big challenge for every company irrespective of their industry or niche.
Due to changes in the work schedule and the way how people used to work due to the COVID-19 pandemic, the company has predicted 10x growths in its customer base over the next two years. The company primarily targets e-commerce, fintech, edtech, and medtech companies that have seen huge growth since the lockdown. This has also helped companies like Walmart Group, Zomato, Nestaway, Delhivery, Zest Money, Upstox, and Tata Group drive a 5-10x improvement in their funnel efficiency metrics using a combination of data science, distributed workforce, and cloud infrastructure.
Today’s business environment has been competitive. Organizations need analytics and a sales acceleration platform throughout the sales cycle. SquadStack has been helping consumer companies across industries solve the principle challenge to turn prospects into customers and more profitably as said by Venkatesh Peddi (Executive Director at Chiratae Ventures).
In 2018, the company launched a sales acceleration product to help consumer companies improve their sales funnel. They claim to have more than doubled its revenue in the last six months from pre-COVID levels.
On the B2B side, a sales-tech innovation happened. It is just as important in the B2C world but it hasn’t quite reached there yet. SquadIQ wants to be the tech platform of choice for the fulfillment and sales team. In 2019, SquadStack had launched a similar offering in the massive US Real Estate market, but during the initial stages of COVID-19, executives at multiple leading US broker teams asked for software to maximize team performance and profitability during the original market downturn. This eventually led to the creation of their offering ‘Auctm’, which is a business management platform that helps broker teams, cut costs, improve agent training, boosts revenue, and retention by inserting its main principles of data-driven sales acceleration.