In the post-pandemic world, automated customer relationship management is more essential than ever to successful strategies. That is why software-as-a-service company Introhive has announced it raised $100 million in series C finances to help expand its capabilities.
Introhive currently offers AI SaaS designed products that help sales and marketing teams manage their customer relationships and data. A tool belt of CRM software, marketing automation, and AI technologies helps teams analyze and act on valuable opportunities.
“CRM is a big investment and the hard truth is people simply don’t take the time to use customer management relationship platforms properly, which hurts a business’ ability to grow and maintain their competitive edge.” Introhive cofounder and CEO Jody Glidden said in an interview with VentureBeat.
Data-driven selling has a huge opportunity to grow in future business operations. Gartner has made predictions that by 2025, 60 percent of B2B sales will transition away from experience-based selling strategies, and toward data-based sales activities.
Estimates report that sales and marketing teams spend around two-thirds of their working time on administrative tasks like software and data management, and only 34 percent of their day actually selling. Grand View Research predicts that by 2028, the automated CRM market will be worth $96.5 billion.
“Introhive is helping leading enterprises in over 90 countries around the world successfully drive better adoption of their technology investments, eliminate mundane busywork for employees, while surfacing key business insights in real time to drive business growth.” said Glidden.
The new funding, led by the equity firm PSG, will contribute to the further growth of a company that has already seen significant growth in the past year.
During the pandemic, Introhive reports to have doubled its revenue and is now approaching 250,000 users as the need for efficient CRM only becomes more important. The company estimates it saved around 9 million hours in the past year for its users, and plans to use the funding to further expand its global growth and capabilities.