Revenue Grid which rebranded last year from Invisible.io following its pivot into revenue intelligence, closed on a $20 million Series A to expand its AI-based revenue insights and guided selling recommendations. The round was led by W3 Capital, with participation from ICU Ventures and existing investors.
Funds will be dedicated to scaling company growth with investments in sales, marketing, and R&D. The firm plans to continue innovating around guided selling, revenue intelligence, and best practices research.
“Revenue Grid is ahead of the market in intelligent, guided selling, and sales automation,” said Steve Wadsworth, Partner at W3 Capital. “What has impressed us the most about Revenue Grid is their level of technology and product advancement and their innate understanding of the Sales and Revenue functions within organizations. Revenue Grid has already developed the solutions that the market is just now starting to look for.”
Revenue Grid offers a set of revenue opportunity, engagement, and risk signals that spur sales reps to take action. It also automates sales routines, supports playbooks, fosters best practices, recommends modifications to the sales process, and measures the impact of recommended changes.
Core Revenue Grid capabilities include CRM data auto-capture, pipeline inspection, health checks, deal guidance, and revenue signals.
Revenue Grid ingested over one billion “communications items” to train its AI, including emails, meetings, and calls. Communications are indexed by industry and sales process types and correlated against success rates. Other features include sentiment analysis, sales opportunity summarization, and detecting demand unit members that have not been associated with an opportunity or added to the CRM.
“Revenue Grid can track objections and suggest the right mitigation on different levels of the sales funnel — from lead outreach to late opportunity stages. [It can] understand a communication type like ’email ping pong,’ ‘on hold,’ ‘no authority or power,’ and commitments tracking like whether email needs replying or whether a specific date for follow up or commitment was mentioned.”CEO Vlad Voskresensky
“It is our mission to give companies an unbeatable competitive advantage by completely digitizing their sales processes, and right now we are in the perfect position to expand globally and help companies transform their sales process,” said Voskresensky. “We are bringing smarter AI to sales, but it goes beyond just that. It is quite literally shifting the sales tech stack from the ‘view mode’ to the ‘do mode.’”
While the round is a Series A, Revenue Grid is well established with 1,200 customers, including Hilton, Western Union, Moody’s, Trip Advisor, Red Cross, and Robert Half. Over 800,000 sales professionals rely on Revenue Grid. Through OEM deals, it supports an additional 20,000 companies.
The firm claims that its platform generates 21% faster revenue per account for its clients and offers a 250% ROI.
Revenue Grid is growing “seventy to eighty percent year-to-year,” said Voskresensky. The firm has a 96% retention rate and net retention over 100%.
Revenue Grid has a team of 150 and plans to add another 50 headcount by 2022.
“[This] whole round is an equity investment. It’s actually our first round, prior to which we were bootstrapped and profitable,” Voskresensky said. “Honestly, when the pandemic hit, we didn’t know what it would mean to our business, but it was actually a period of growth. Our products became invaluable for sales reps as they all moved to working remotely, and it helped them stay focused, organized, and efficient.”
Revenue Grid also announced that highly regarded industry veteran Bob Stutz joined their board. Stutz is the President of Customer Experience at SAP and previously served as CEO of Marketing Cloud, Chief Analytics Officer at Salesforce, and Corporate Vice President for Microsoft’s Dynamics CRM. Stutz will assist with the product roadmap, revenue growth, and market expansion.
“Revenue Grid is a very interesting company as they look at optimizing sales processes in a very innovative way, and I am very excited to join their board to support them in growing their business on a global scale,” commented Stutz.
Revenue Grid did not announce its current valuation.