Conversational intelligence platform bao (be-as-one) has raised €2.5 million in a seed round. The Munich-based service aims to help sales teams engage prospects in better conversations, resulting in higher conversions and more closed deals. The firm has raised €3.5 million to date.
Founded in 2017, bao uses speech recognition technologies to lead sales reps through calls by analysing conversations in real-time. The company provides dynamic scripts and objection response recommendations, culminating in customers reporting an increase in call numbers, higher conversion rates, and more deals closed.
Because bao is based in Germany and in accordance with EU privacy regulations, the firm only records and analyzes data from sales agents, whereas no prospects’ data is captured. The firm then structures this data and uses AI to learn and further optimise sales scriptings.
The new round of funding in bao was led by Peak, who just one month prior announced its intentions to invest in German-based startups. The round also saw participation from BayBG and various angel investors.
Peak’s Johan van Mil comments, “Due to automation and data, sales has evolved rapidly from an art to a science. Naturally, there will always be natural sales talents but this new breed of Sales-SaaS like bao will enable companies to scale their commercial efforts faster and more efficiently. bao has proven to help companies by increasing their win rate with 20%.”