B2B SaaS startup Factors.AI based in the Us and Bengaluru has raised $2 million in seed funding co-led by Elevation Partners and Emergent Ventures.
The funding round also saw the participation of angel investors, including Naveen Tiwari, Abhay Singhal, Piyush Shah, Mohit Saxena, Amit Gupta (Founders, InMobi), Girish Mathrubootham (Founder, Freshworks), Krish Subramanian and Rajaraman Santhanam (Co-founders, Chargebee), and Ramakant Sharma (Founder, LivSpace).
The raised funds will be utilised to recruit newer talents and further establish its manufacturing and communications leadership in the sector.
Established in 2020 by Aravind Murthy, Praveen Das, and Srikrishna Swaminathan, The company empowers B2B Marketing Teams to make sense of their diverse customer data and make smarter, faster decisions. Employing a few key automation using the latest innovations in machine learning, delivers an impactful and proper insight to the marketers.
Factors.AI also helps marketing teams streamline their marketing activities and understand how these activities act on revenue and demand pipeline and real-time marketing and sales funnel visibility for better planning.
The founders said, “Conversations with 70+ B2B marketers highlighted challenges arising from generic marketing analytics and BI tools. The feedback has helped us shape Factors.AI, set the product roadmap for the B2B marketing teams, and build a community of 300+ B2B marketing professionals. Factors.AI is now a team of 30+ working remotely with a vision to create the gold standard for B2B revenue marketing,”.
“The launch comes after a successful early access programme with Chargebee, Plivo, DesignCafe, LivSpace, and YourStory, among other businesses, which switched to Factors.AI for their marketing analytics and attribution use cases,”.
Founders Sri Krishna and Praveen were part of the leadership team at InMobi, While Aravind was a Google engineer at Freshworks. Their experience at both the companies, especially Freshworks have seen the critical problems to show the impact of marketing activity, and how growing B2B marketing and consumer’s behaviour undergo dramatic changes. To address these problems, they started Factors.AI.
The start-up provides its services to the marketing operations and analytics community through SMAC, which is the only invited Slack team having more than 300+ marketing practitioners from companies such as Freshworks, Chargebee, Hey Digital, etc.