At a time when software-as-a-service (SaaS) startups are growing exponentially as India turns digital, the first-generation Indian SaaS-based startups are well poised to touch $18 Bn to $20 Bn in terms of revenue by 2022.
Now, Hyderabad-based SaaS startup GTM Buddy has announced it has raised $2 Mn in its seed-round funding, led by early-stage venture capital investor Stellaris Venture Partners. Girish Mathrubootham, Nick Mehta, Ashish Gupta, Aneesh Reddy, Khadim Batti and Dilip Khandelwal also participated in this round of funding.
The startup said that the funds will be utilised for enhancing product capabilities as well as for building out the go-to-market teams — across sales, marketing and customer success functions.
According to Sreedhar Peddineni, Founder of GTM Buddy, “It leverages the latest advancements in technology, design and AI (artificial intelligence) to deliver the right information to the sellers at the right time, information that is contextually relevant to the buyers; available within the tools that are used by them on a daily basis.”
Alok Goyal, Partner, Stellaris Venture Partners added, “Despite advances in underlying technologies, current sales enablement solutions fail to meet the needs of the users. They are mostly a user interface on top of a classical folder structure, with basic search and tracking capabilities. Like many other enterprise processes, we believe that this is a space ripe for disruption.”
Peddineni founded GTM Buddy in 2020 along with cofounders Santa Thounaojam, Sundar Vellaichamy, and Chandramani Tiwary. Prior to GTM Buddy, Peddineni cofounded Host Analytics, a SaaS platform and a market leader in the financial planning and analysis (FP&A) space, which was later acquired by Vector Capital. He later cofounded Gainsight, a category creator in the customer success space and a unicorn, which was acquired by Vista Equity Partners in 2020.
Powered by Contextual AI engine, GTM Buddy’s platform pre-processes all the sales enablement content available within the organisation’s content repositories, external content etc; auto indexes and surfaces the most relevant information in the context of a conversation happening with a prospective buyer.
According to a report by Bain & Company, startups such as Zoho, Druva, Icertis and Freshworks have surpassed the $100 Mn ARR, with a healthy pipeline of companies well placed to follow over the next 12 to 18 months. Last month, Girish Mathrubootham and Shan Krishnasamy led SaaS unicorn Freshworks filed for a $100 Mn IPO in the US.