Mountain View and Benagluru-based SaaS marketing platform Slintel has raised $4.2 Mn in a funding round led by Accel, with participation from Sequoia Capital India and existing investor Stellaris Venture Partners.
The company plans to use this funding to enhance its presence in the US and get a greater piece of the market share by strengthening its products. A part of the funding will also be used to double its team size from 35 to 70 employees.
“The new investment will enable us to double down on our vision of helping sales and marketing teams find buyers that are most likely to engage with them. The investment from this round will be used to strengthen the product and capture market share aggressively, given the velocity at which we have been able to add customers over the last year,” said Deepak Anchala, CEO and founder at Slintel.
Slintel had raised $1.5 Mn in seed funding round led by Stellaris Ventures with participation from Accel Partners, Engage.social founder Anand Jagannathan and Helion Ventures’ senior managing director Ashish Gupta, in December 2019.
Founded in 2016 by Anchala, Rahul Bhattacharya and Ranjana TN, Slintel offers predictive sales insights to B2B tech and software product firms and focuses largely on the US market. Nearly 80% of its revenues come from the US market. It also has customers in Europe and Asia-Pacific regions.
It has close to 100 customers and tracks 16 Mn customers and 40K software products, offering insights through its market analysis to marketers. The company does most development at its Bengaluru centre, and was also a part of tech accelerator GSF’s deeptech cohort in December 2018.
With its technology teams based in Bengaluru, Slintel plans to repeat its growth numbers in financial year 2021 and reach a base of 300 customers by 2022. “The team’s ability to improve the opportunity pipeline for sales leaders while reducing overall spend has been admirable,” Alok Goyal, partner at Stellaris Venture Partners, said.
As per Inc42 Plus’ Annual Tech Startup Funding Report for 2019, the deeptech sector raised over $136.14 Mn in 2019.