InsideSales, an advance Predictive Analytics Company, rose over $60 million in another round of funding that took place lately. The companies that led the chart included Salesforce.com, inc. (NYSE:CRM) and Microsoft Corporation (NASDAQ:MSFT).
Road So Far:
InsideSales has been a sought after startup which has closed quite a few funding deals lately. As per the reports, it closed $100 million Series C funding in April 2014. It was led by Polaris and Kleiner Perkins with Salesforce.com’s participation in the funding process. After the current round, the total funding has reached around $200 million. InsideSales has been valued at close to $1 billion.
Dave Elkington, Founder & Chief Executive Officer of InsideSales, is excited to see a positive response from the companies like Salesforce.com. According to her, the fresh funding will be used by the company to expand its operations, human resource and offerings. The major focus of InsideSales is to build Neuralytics, which uses artificial intelligence and machine learning to improve various recommendations for the overall improvement of sales teams.
Elkington states that data science is a powerful tool to improve overall efficiency. In today’s time, it is steadily becoming the mission-critical part of all the businesses. Neuralytics or predictive analytics platform of InsideSales is fully focused on this subject. There are many businesses that have started using predictive analytics in the enterprise space for overall efficiency. The market is surely going to improve in the future. It’s a high time for this movement, and Neuralytics gives InsideSales an edge over others in the market.
The basic function of this platform is to target the sales people as an aid for closing deals and contacting leads in the day to day life. In simple words, Neuralytics pulls more than 14 billion data points from its database. These data points range from post-sports win and losses to lunar cycles. They can help the sales teams in determining who should they call and at what time, and also what is the likelihood of securing a smooth interaction after the call.