Introw, a Ghent-based startup leveraging AI to help sales teams find business contacts through existing partners, has raised €1 million. The fledgling company intends to use the capital to further develop its offer.
The €1 million funding round was led by Pitchdrive, and saw the participation of angel investors including Pieterjan Bouten (former Showpad co-founder and CEO), Ewout Meyns (former PieSync co-founder and CEO/Hubspot executive), and Dieter De Mesmaeker (former co-founder and CTO at DataCamp).
According to Introw, on average, there are 27 touchpoints involved in closing a sale when using a cold approach, thus resulting in a long, and sometimes fruitless, sales cycle.
In contrast, a warm approach can result in up to 10x more conversions.
A common approach to obtaining a warm intro is through shared contacts with partners. However, the process can get messy, quickly, with no one knowing who’s working on what, what the status of the shared contact is, and whether the partner organisation is already working on a deal with this contact.
Introw steps into the picture by leveraging the power of AI to help sales teams pinpoint opportunities through partners that align with their ideal customer profile. According to the startup, this mechanism will help companies not only create new sales pipelines but dramatically accelerate existing ones.
The company says that it has no intention to reinvent the wheel and that its offer is designed to seamlessly integrate with existing sales tools.
"Who likes to get random cold emails and calls? With Introw, we help businesses reach customers through their existing network of partners. This way, you can start a ‘warm’ conversation with a prospect," commented co-founder Andreas Geamanu.
Lead image via Introw.