Vymo, an Intelligent Sales Engagement platform for Financial Institutions, has raised $22M in Series C funding round led by Bertelsmann India Investments with existing investors Emergence Capital and Sequoia Capital participating. As part of the financing, BII’s Rohit Sood, will be joining the company’s board.
“2021 was a momentous year for us: 20%+ quarterly growth, 142% NRR, zero logo churn, entry into the US with wins like Berkshire Hathaway, and onboarding some of the largest Insurers in Japan. Sales tech is a $10B+ opportunity in just these two countries and this fundraise will help us accelerate our growth plans for these markets,” said Yamini Bhat, Co-founder and CEO.
Post pandemic, coaching remote sales teams has become a huge challenge for enterprises. Sales managers cannot observe their teams in action and lack of timely coaching and interventions is driving ~40% attrition in sales teams and a breakdown in productivity. CRMs, with < 30% adoption within sales teams, do not capture the behavioral signals required to identify skill-will gaps and assist sellers and managers with pre-emptive guidance.
Vymo’s ability to capture sales engagement across channels, distill behavioral signals and translate these into actionable nudges has gained massive importance in a remote-first world.
Vymo’s churn and adoption metrics prove the point. Vymo has a staggering NRR (Net Revenue Retention) of 142% – easily the top 0.5 percentile amongst SaaS companies globally. With DAU (Daily Active Usage) of over 75% across 250,000 users in 8+ countries and 60 mins per day time spent by users, Vymo’s engagement is stronger than Slack or Instagram. Having become the go-to choice for large sales teams, Vymo has been adding a user every three minutes in 2021.
Vymo’s is uniquely positioned to help sales teams realize their potential with deep verticalized playbooks that directly impact business outcomes. Vymo’s intelligent nudges and suggestions have a high degree of compliance and have proven successful in influencing behaviors bottom-up at scale. Also, with the fastest deployment times in the industry, Vymo’s customers have realized value in less than six weeks!
“Vymo is building the next generation of intelligent sales automation tools driving huge and direct impact on its clients’ toplines across the globe. The engagement on the product is something we have never seen before in any product in any field. Yamini and Venkat’s market understanding and execution focus is exceptional and we are delighted to partner with them,” said Rohit Sood, Partner at BII.
Vymo was founded in 2013 by Yamini Bhat, a McKinsey alum, and Venkat Malladi, a Google alum, and has since grown rapidly on the back of major enterprise client wins across Asia, Japan & North America and partnerships with world-leading companies such as Microsoft, Salesforce, SoftBank, LINE WORKS, and EY. Vymo is headquartered in San Francisco and has offices in Singapore, Bengaluru and Tokyo.