Vymo Raises Series A Funding From Sequoia

Predictive sales analytics start-up Vymo said on Tuesday (22 Oct.) that it has raised $5 million Series A fund from Sequoia India. Vymo, which serves at least 25 large institutional clients, including financial institutions such as HDFC, SBI Life and Axa currently, will use this funding to deepen its research and development (R&D) and expand its presence in international markets. It is set to expand in the Middle East and Asia Pacific markets.

Vymo co-founder and CEO Yamini Bhat said that the company currently uses data from more than 25000 sales representatives to map out skills and provide real-time recommendations, helping its users choose their most efficient course of action.

“Vymo’s solution requires low or minimal data input and enables the sales representative to be more productive, and these sales tools typically add effort for the sales representatives and give value to the sales manager," she added.

“Vymo helps organizations improve their sales performance by converting manual operations to rule-based algorithms, something not fulfilled by traditional CRMs. As such, it’s a key tool for any company seeking to maximize its sales potential. The company has shown impressive results in a very short time and Sequoia is excited to partner with them”, said Shailesh Lakhani, Managing Director, Sequoia Capital India Advisors.

Sales analytics solutions provided by companies such as Vymo is relevant in today's market scenario as traditional processes expect sales representatives to just make subjective decisions from available data – which is not optimal for large or fast-growing businesses. Vymo can predict user behaviour (what a sales person should do next, detect what he has done, learn from what the best reps are doing etc.) and help them improve performance with minimal or no manual intervention. Vymo’s tools in production have engagement similar to leading mobile consumer applications. The biggest customers of Vymo have reported more than 25 per cent improvement in their productivity after deployment of the solution, the company claimed.

“We use signals and context like location, phone calls, calendar, source of the lead, time of the day and so on, to understand the most important actions the sales reps need to take, and help them prioritize. We also learn from the actions they are taking and correlate them to their success. Our data pipeline, scalable infrastructure and learning systems analyze millions of data points every day to deliver personalized intelligence to every sales rep. And we are just getting started,” said Venkat Malladi, co-founder and CTO, Vymo.