Nektar.ai, a software as a service (SaaS) startup company, announced it raised $8.1 million to fuel the growth of its B2B sales software.
What Is Nektar.ai?
Founded in 2020, Nektar.ai is a Singapore-based startup company that developed an innovative B2B sales software. Through the use of AI technology, the software is intended to increase productivity for salespeople by reducing the amount of time spent on data entry.
The Nektar.ai platform has the ability to integrate with other sales, communication, and collaboration workflow tools like email, Salesforce, Slack, LinkedIn, Microsoft Teams, and CRM, or customer relationship management. Therefore, one software can collect buyer and seller data from across all of the workflow resources and deliver analytics through one single source.
The AI startup designed its software to automate CRM data entry. The company claims that while CRM is vital to sales organizations, it is also time-consuming. Consequently, more time is spent on manual data entry and other administrative tasks rather than on sales.
The AI business lets customers create “playbooks” or selling guides for meetings, prioritize and manage sales deals for potential next steps or risks, and host individual or group coaching sessions for salespeople to help them improve their skills or onboard new employees. Additionally, the startup features a dashboard with sales and performance metrics that allows salespeople and employers to track an employee’s monthly and quarterly sales. Furthermore, the company also lets Nektar.ai users collaborate on sales projects.
Emergence From Stealth
Nektar.ai announced it raised an additional $6 million in seed funding led by B Capital Group, 3one4 Capital, and Nexus Venture Partners. The AI business previously raised nearly $2.2 million in seed funding in November 2020, according to Crunchbase data. With this additional seed funding investment, the startup has raised $8.1 million in total seed funding.
Abhijeet Vijayvergiya, co-founder and CEO of the business, said in a company statement, “2020 transformed the world of B2B Sales and fundamentally changed the way B2B selling and buying gets done. Modern, fast-growing distributed teams work in data silos and operate many disconnected sales & marketing tools … We want to enable growing SaaS sales teams to execute a scalable revenue engine and unlock their growth flywheel faster.”
With this new business funding, the AI business plans to invest in R&D and engineering for further growth of its B2B sales platform. In addition, the company will invest in developing a go-to-market strategy for future use when the Nektar.ai software is available for the general public.
The startup has been in beta testing ever since it was founded. The business plans to launch from stealth across the United States (US) in the first half of next year. Prospective customers can join a waitlist by signing up on the Nektar.ai website.
AI technology seems to be staking a claim in industries across the board. Grand View Research reported that the global AI market was valued at $62.4 billion in 2020 and is projected to reach nearly $998 billion by 2028 — growing at a CAGR of 40.2% from 2021 to 2028.
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.