Referral-ai
Active
Enterprise HR Recruitment
Artificial Intelligence Machine Learning

Business Overview

DESCRIPTION

Three experienced Co-Founders in building startups to successful entities, got together to solve the exhausted and inefficient cold calling process that Business Dev, Salespeople and Entrepreneurs use to reach prospects such as a target customer, an investor, an advisor, a partner, etc. They’ve acknowledged that current technologies brought automation to the art of selling and the ability to process big data quickly. Such as the “Paperless Office” that was enhanced by CRM, Lead Generation, Lead Qualifications and Business Network tools like LinkedIn Sales Navigator. Nevertheless, all these Sales Acceleration solutions brought only marginal improvement, keeping the selling process still far from being efficient. This is prevalent in the recent Harvard Business Review (Nov 2016), indicating that at least 18 calls are required to connect with a prospect, and for every 100 calls made, less than 1 do call back. Even with Automated Emails Platforms, only 24% emails are opened, as most are tagged as spam. In contrast, 84% of B2B buyers start the purchasing process with a referral. And 70% indicated that referrals convert better and close faster. So it’s not surprising that over 90% of buying decision is influenced by peers’ recommendations and referrals. With this in mind, they have developed a patented (pending) machine learning platform that automatically connects sellers with buyers through a trusted 1st-degree referral. The Platform combs the Internet constantly and builds an ever-expanding network of referrals. It discovers hidden 1st-degree connections, to enable introduction by a trusted people, turning any sales call into a warm welcome.

FOUNDED
February 2016
EMPLOYEES
1
BUSINESS MODEL
B2B
OFFERING TYPE
Software
SECTORS
Enterprise HR Recruitment

Funding Rounds

Date Announced

Funding Round

Amount Raised

Investors

AI Technology Stack

AI TYPES
Artificial Intelligence Machine Learning