Conversational Sales vendor Avoma closed on a $12 million Series A led by Headline, with participation from Storm Ventures, Global Founder Capital, Zoom Apps Fund, Operator Partners, Industry Ventures, and existing investors K9 Ventures, Dragon Capital, and Twin Ventures. Founded in 2017, Avoma has garnered $15 million in total funding.
Avoma combines meeting management, an AI assistant, CRM synchronization, and conversation intelligence into a unified tool. Other features include meeting snippets, conversational analytics, and keyword searching.
“AI does the first draft, but then you have notes and can go back and highlight notes and provide more context if you need to,” remarked CEO Aditya Kothadiya.
Avoma’s integration partners include
- CRM: Salesforce, HubSpot, Pipedrive, and Zoho
- Video Collaboration: Microsoft Teams, Zoom, and Google Meet
- SEP: Salesloft, Outreach, and Groove
The funds will expedite the build-out of their meeting lifecycle assistant. According to TechCrunch, Avoma will focus on three pillars: AI, user interface, and workflow integrations. It will invest in its machine learning and natural language processing for notetaking and enhance the user experience.
“Since our launch, we have helped over 300 customers and tens of thousands of professionals save multiple hours per week with AI-generated notes and collaboration and improve meeting outcomes by 30% with actionable insights,” posted Director of Marketing Yaagneshwaran Ganesh on LinkedIn. “But so far, we have probably accomplished a small percentage of our vision. Our goal is to not only assist you in notetaking and CRM data entry, but also to help you research attendees, get real-time coaching recommendations, send a follow-up calendar invite, and more.”
One of the core value propositions of conversational sales services is their ability to improve the presence of sales reps during calls. Once relieved of notetaking, sales reps no longer need to delay conversations to jot down notes; instead, they can focus on meeting attendees, gather non-verbal cues, and better manage the discussion flow.
“As a product leader, I was constantly in meetings and spent time taking notes. With every new product, I would hand it over to the customer or product market team but would find that during meetings, I was not listening to what was going on because I was taking notes. We wanted to apply technology to this so we would make sure nothing was lost.”Avoma CEO Aditya Kothadiya
Avoma claims that this improved meeting presence results in a thirty percent improvement in meeting outcomes. Furthermore, reps no longer need to toggle between four or five applications to “prepare for a meeting, take notes, participate, and follow through with participants with action items.”
“With so much context switching and information loss in disparate tools, knowledge professionals spend over 20% of their time on low-value admin tasks,” blogged Kothadiya. “And that’s why there is an urgent need to streamline and automate workflows across the meeting’s entire lifecycle.”
Avoma is targeting mid-market customers and enjoys “obsessed customers,” according to Jeff Fein, a partner at Headline. The firm has been using Avoma internally and “loved it.”
“It helped in our own processes, and when we talked to their customers, they were obsessed, many of them saying they could not live without it,” said Fein. “They said it made their work that much more efficient. We heard that more consistently, and it piqued our interest in a huge way.”
Avoma has quintupled growth each of the past three years and now supports over three hundred customers. Success has been built with a lean team of only 15 employees, but the firm plans to quadruple its US and Indian headcount over the next year. Hiring will focus on the engineering, product, and go-to-market teams.