According to research from customer experience specialist Zendesk, a mere 7% of companies respond to sales leads within five minutes, while a staggering 50% take up to five days to respond.
This delay can cost businesses dearly, as 35% to 50% of sales are often won by the company that responds first.
That's what Bengaluru-based start-up RevenueHero aims to address. With its recent raise of $5.1 million in seed funding, the startup wants to help businesses increase their sales pipeline and improve lead conversion rates.
Founded in 2021 by Sudharshan Karthik, Aaditya S, Charanyan Venkataraghavan, Hariharan R, Krupesh Muthukumar, and Pranav R, RevenueHero offers a sales platform designed to help business-to-business (B2B) companies tackle the challenge of businesses losing potential customers due to slow lead processing and response times by streamlining lead qualification, enrichment, routing, and scheduling.
Since its launch earlier this year, the start-up has already gained 40 customers and facilitated over 10,000 meetings with sales leads on behalf of its clients. It also claims its software has resulted in a 50% increase in sales meetings for clients including marketing teams at companies like Okendo, Inflection, and Rocketlane and a 45% reduction in unproductive meetings.
The seed funding round was led by Stellaris Venture Partners, a technology-focused venture capital investor. With the newly raised funds, RevenueHero plans to expand its operations in the North American market and recruit additional talent.