Today, we’re thrilled to announce that we’ve raised $5.5 million in a round led by Matrix Partners India and Blume Ventures with participation from Neon Fund. Excited to have executive operators and founders from leading companies such as RazorPay, Cloudflare, Superhuman, DevRev join us as angel investors. As we look forward to an exciting future, here’s the story of what got us started.
The problem
The amount of time sales professionals spend on building relationships with their prospects has gone down drastically in the last decade. Today, sales teams only spend 28% of their time selling and the majority of their time is spent in non-selling activities. Why is that?
Pressure of increasing the top line and processing more deals without adding headcount by way of SMEs, presales engineers, etc. translates to sales being overburdened.
Intense competition demands the development of tailored selling approaches to differentiate themselves in the market; this requires considerable time and dedication for every single deal.
Sales teams are overwhelmed with the complexities of multiple disconnected solutions, spending more time navigating through all the apps than actually building relationships and closing deals.
Today, customers come into sales meetings more informed, and sellers are expected to have deeper product knowledge and easy access to proprietary company information to win new customers. But are companies spending enough time training sales and presales professionals on more technical knowledge? Is this even possible given the vast amount of information that exists today?
Sales and presales professionals can’t be expected to memorize all the ins and outs of the product to be able to respond to clients quickly and accurately.
The epiphany
After having 500+ hours of conversations with leaders in different industries, it was evident that AEs, solution engineers, SDRs, etc. were having a hard time discovering the knowledge they needed with content scattered across so many different tools. This pain point becomes more evident when they respond to repetitive questions on calls or emails, and while completing infosec questionnaires, vendor assessment forms, RFPs, and RFIs.
Legacy solutions were only addressing parts of the problem driving barely 10-20% efficiency gains.
The transformation
With the launch and massive adoption of ChatGPT, AI became mainstream and organizations globally were seeing a boost in productivity. Leaders now saw the drain on resources and bandwidth as a critical problem and recognized AI to be the perfect solution.
In fact, we’re already seeing sales organizations implementing AI to try and simplify some of their most repetitive and frustrating tasks. The #1 AI use-case for B2B sales professionals is repurposing messages to prospects by adapting them to different formats.
However, one huge hurdle remains before leaders can fully embrace AI. While over 70% of professionals trust the accuracy and reliability of AI-powered solutions, no company is comfortable with the thought of allowing existing AI tools like ChatGPT, Jasper, etc. to work off their proprietary information.
All of this told me that the market has never been more ready for a platform like SiftHub - a modern end-to-end solution that incorporates AI at its core, in a safe and secure way, to solve a legacy problem and help organizations respond to their customers 10x faster.
The next-gen platform
SiftHub’s AI platform is changing how sales and presales teams discover up-to-date information and generate accurate responses grounded in company knowledge. No more “I’ll get back to you”s that could lead to a long sales cycle or a lost opportunity. Easy integrations with apps such as Salesforce, Confluence, HubSpot, Google Drive, Sharepoint, Zendesk, and more allow users to now access all enterprise knowledge in a single hub. Our platform’s context-awareness features make it easy to find the right information at the right time without toggling between screens and teams.
We are empowering sales organizations as a trusted knowledge partner. SiftHub is uniquely positioned to deliver secure, private, access-controlled answers that trace back to the original source. Using RAG technology and fine-tuned LLMs with industry-specific knowledge training, SiftHub allows users to generate personalized responses with zero hallucinations. This guarantees increased transparency and reduced risk and inspires absolute trust to use AI for all their needs.
The future
We’re at the beginning of our journey to disrupt the sales and presales space with the application of AI in ways never done before. We’ve had a fantastic start and are super excited for the future!
Our team, central to SiftHub’s growth, includes several former startup founders. Their expertise in product innovation and experience with the challenges of expanding sales operations is invaluable. As we expand, we’re looking for more highly motivated individuals who will help us redefine the future of AI for enterprises. Join our rocketship!
If you’re looking to boost your sales organization’s productivity by 80% with streamlined responses and quick knowledge discovery, be sure to join our waitlist today.
