Today German startup Minoa announced the close of an over-subscribed $2.7 million pre-seed funding round.
Minoa develops software-driven value and pricing management solutions for more effective enterprise SaaS sales. It partners sellers with buyers and prospects in the sales process, giving SaaS vendors deep customer insights that lead to higher close rates, larger deal sizes and lower churn.
According to Max Elster, co-founder and CEO of Minoa:
“Enterprises will spend nearly $200 billion on SaaS this year, but vendors lack the necessary software-driven tools to really understand their customers’ needs.”
He asserts that SaaS sales are only getting harder. "Taking a more collaborative approach to enterprise sales helps SaaS companies not only better understand customers but also better optimise pricing."
Minoa helps SaaS companies gain better insights into their customers’ and prospects’ willingness to pay through a collaborative sales process that includes sharing of ROI calculators and value cases.
Collaborative value selling doesn’t stop when the deal is signed, so Minoa works with customers to measure value realisation and support renewal conversations.Richard Einhorn, co-founder and CTO of Minoa states:
“We believe that the customer experience must come first in SaaS, especially in sales.
But there are more and more challenges in SaaS sales at a time when many buyer budgets are constrained, CFOs are taking a harder look at the multiplication of vendors throughout their companies, and more and more SaaS sales cycles require a lot of interactions.
So successful enterprise SaaS sales require a new collaborative approach with your customers and prospects.”
The round is led by 468 Capital, one of Europe’s leading funds, with participation from Mischief (Plaid founder Zach Perret), AirAngels (Podcaster Lenny Rachitsky), Alumni Ventures and Fidi Ventures.
Angel investors participating included Front founder Mathilde Collin, DocSend founder Russ Heddleston and senior executives from Amazon, AirBnb and Salesforce.
The funding will expand the team in San Francisco, where the company is now headquartered.
Lead image: Christina @ wocintechchat.com