California- and Bengaluru-based B2B startup Slintel that provides marketing and sales intelligence to enterprises has raised USD 4.2 million in a funding round led by Accel, with participation from Sequoia Capital India and existing investor Stellaris Venture Partners.
This round of funding comes less than a year after the company raised USD 1.5 million in a seed round from Stellaris Venture Partners. Slintel has raised a total of USD 6 million till now.
The fresh round of funding will be used to capture the market share as well as strengthen the product. A large part of its team is based in Bengaluru and the company plans to double the team size in the next few years.
Founded in 2018 by Deepak Anchala and Rahul Bhattacharya, Slintel offers software as a service to its customers and help them identify and reach out to high intent buyers who are looking to make a purchase.
“What it means is, we analyze billions of data points like if a potential buyer is using competitor’s product, their upcoming contract renewal date, and other similar data points. We apply these insights and tell our customer’s sales and marketing team about these buyers,” Anchala, co-founder and CEO, Slintel, told KrASIA.
He said 80% of their clients are based in the US and the remaining come from Latin America, Asia Pacific, and India. The company claims to have over 100 paying customers.
“We are a global SaaS company built out of the US and India. From an outbound perspective, we want to remain focused in the US, but we do get inbound leads from India and other Asian nations,” he said.
According to Anchala, a lot of companies approached them during the pandemic to identify high intent buyers as not everyone was buying and it became more important than ever for them to find out such clients. The company said in the last one year it has recorded a growth of 800%.
“Over the past few months, we’ve seen several companies make budget cuts across the board and struggle to improve sales. However, Slintel’s platform enables its customers to identify prospects that have a high probability of purchasing their product or service, making it a software that is more important and useful now than ever before,” said Prayank Swaroop, partner at Accel.