Falcon, a sales analytics platform that uses AI to show where successful product sales are located within an organization, today announced that it has raised $16 million in a funding round led by Omers Ventures, with participation from Greylock Partners, Trilogy Financial, Flying Fish Partners. and Madera Partners. CEO Mona Akmal said the new money — which brings the company’s total revenue to $20 million — will be used to integrate with workflow partners, support product research and expand the Falcon team from 20 to 30 employees by the end of the year. .
Akmal co-founded Falcon in 2020 with Josh Zanna and Akash Kambuj as an “augmented analytics” company with the goal of analyzing and automating business operations. All three worked together on Microsoft’s OneDrive team and spent time at Dropbox, Amazon, Amperity, Code.org and Zulily. Akmal is VP of product and engineering at Code.org and head of Amperity, and Kamboj previously led engineering at Dropbox’s search team. Zana, meanwhile, was a senior software developer at Amazon working on the Fire TV line of devices.
“Our thesis is that when companies collect mountains of data, the return on investment is low because it’s primarily used for dashboards and reporting,” Akmal told TechCrunch in an email interview. “The modern data stack has seen billions of dollars of investment, but requires a large and expensive pool of data engineers, scientists and analysts to access data for insights. These people are in high demand and there aren’t enough to go around. So for the 90% of companies that can’t afford to hire such talent, all of us like Falcon There needs to be solutions like Falcon to get the same value we were promised.
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The Falcon platform attempts to unify a company’s go-to-market data (such as product usage metrics, customer relationship management and sales execution data, and web traffic), synthesize that information, and generate “informed” recommendations for sales and marketing teams. Especially sales development representatives, account executives and account managers. Falcon can open “stuck” sales pipelines and find new opportunities, according to Akmal, through algorithms and a set of applications that can be used together or separately.
Falcon users can connect business intelligence tools to the platform to report data on customer accounts, contacts and channels. Insights are delivered via Slack, email, and embedded apps from Salesforce and other vendors. Falcon can automate workflows like registering marketing campaigns and creating Salesforce tasks.
“Go to market intelligence is a fractured space with many point solutions. We take a horizontal and holistic approach,” Akmal said. “We use economic techniques [relying] In one basic approach: the spread of success. Strategies that are often prevalent in successful outcomes (such as winning leads, outstanding reps, and changing customer behaviors) and less common in failure outcomes (such as lost deals and underperforming reps) are the winning strategies and companies should bet on them. More than losing the known methods in the same way.
Akmal wouldn’t disclose revenue figures, but said Seattle-based Falcon is growing rapidly with a client base that includes Redis Labs, Icertis and Zendesk.
“With the market correction happening in the tech world, companies are starting to look at the effectiveness of their go-to-market teams working intelligently and automating them, so our message really resonates,” Akmal continued. “While we’re having some budget struggles, we’re doing this at a creative cost… We feel good about our position there.
