Advisr is a tech startup that provides business owners with a sales operating system designed to improve revenue and generate a larger customer base. The company recently announced a new funding round led by Next Frontier Capital to help further expand its own business operations.
What Advisr Does and Rapid Business Growth
Advisr’s software provides business owners and sales teams with the ability to run the entire sales workflow. The sales system generates contracts for new clients, automatically logs all new sales and organizes them, and runs client or campaign-specific sales strategies. The largest service that the company offers business owners is the collection and analysis of sales data that Advisr turns into actionable insight.
By leveraging machine learning, the tech startup generates specific advice on how to price services or products to increase sales, creates new marketing strategies based on region or demographics, and helps with sales proposals or presentations. These offerings are designed by the company to help clients in the media production, advertising, financial services, and insurance industries.
Advisr also claims that its software is effective in helping its clients build up their sales. The tech startup reports that, on average, clients create media and sales proposals up to 5x times faster and experience a sales cycle that is 10 days shorter. The company also reports 3x more products sold per order and a 60% higher-order value, following the integration of the sales operating system.
Advisr has experienced a spike in total business over the last year. During this time period, the tech startup reported a 336% year-over-year increase in the number of customers accessing the sales software and a 1,144% increase in total usage.
The company is a part of the global sales intelligence market. The market is projected to reach a total value of $3.8 billion by 2025. This figure is expected to be reached at a compound annual growth rate of 12.3%. Key drivers for this market growth are the rapid adoption of artificial intelligence (AI) and machine learning to generate sales insight and the ongoing digitization of business operations.
Advisr’s New Funding and Next Steps
In its most recent funding round, Advisr raised $5.75 million in capital. Alongside Next Frontier Capital, the round saw participation from Granite Capital and other existing investors. The tech startup has now raised a total of $13 million.
Advisr plans to use the new funding to further support business growth by hiring new employees across multiple departments and opening up a new business hub in Montana to focus on the West Coast. The company also plans to invest in improving the user experience and continue to add new features to the sales operating system over time.
When commenting on the latest funding round for the tech startup, founder and CEO of Advisr Quique Nagle said, “We've experienced rapid growth over the past few years. Our headcount has more than doubled since the end of 2020 and the completion of this round of funding will enable us to continue to support our exponential commercial growth while continuing to provide superior service and support wherever our customers are located. We're thrilled to be expanding our footprint and establishing a hub in Bozeman, Montana.”
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.