Tech Startup PreSkale Raises $500,000 In a Pre-seed Funding Round Led By BoldCap
PreSkale helps PreSales teams streamline evaluation experiences, deliver impactful solutions and improve technical conversions
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Tech start-up PreSkale has raised $500,000 in a pre-seed funding round led by BoldCap, with participation from PointOne Capital and strategic angel investors including Sathya Nellore Sampath, Ajith Sowndararajan, Vaidhyanathan, Jayagopal and Archana Priyadarshini.
PreSkale is capturing intel that helps people close a sale and is shining a light on the growing army of "PreSales' teams to become revenue creators, said a statement. The company will use the funds to grow its customer base by 20 times and team size by three times over the next 12 months and also invest in go-to-market (GTM) strategy and marketing initiatives to increase reach and awareness, added the statement.
"PreSales stands to be one of the most influential, and impactful go-to-market (GTM) functions for all B2B teams. Yet, today PreSales doesn't garner the same value as other GTM teams. We're building PreSkale to level up PreSales operations for PreSales engineers and organizations. From managing day-to-day account tasks, notes and meetings to generating master playbooks filled with valuable insights to help PreSales engineers build better product experiences, and improve product adoption, PreSkale does it all," said Ajay Jay, co-founder and CEO, PreSkale.
According to management consulting firm McKinsey, the PreSales engine can yield a five-point improvement in conversion rates, a 6–13 per cent improvement in revenue, and a 10–20 per cent improvement in the speed of moving prospects through the sales process. McKinsey found that companies with strong PreSales capabilities consistently achieve win rates of 40–50 per cent in new businesses and 80–90 per cent in renewal businesses—well above average rates.
Recognising the change in buyers' mindset and the impact of PreSales within the GTM ecosystem, G2 announced PreSales as a new category in April 2022. G2.com is a peer-to-peer review site headquartered in the US that focuses on aggregating user reviews for business software.
"PreSales is a relatively large team in most companies and they generally collaborate across sales, product, and engineering teams. They enable sales teams to sell better and bring customer intelligence and product requirements back to product and engineering teams. They are important, yet a massively underserved team, and that's what got us excited," said Sathya Nellore Sampat, general partner, BoldCap.
Founded in 2021, PreSkale helps PreSales teams streamline evaluation experiences, deliver impactful solutions and improve technical conversions, enabling these teams to improve product adoption early in the sales cycle.