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Getting prospective customers to return sales calls and texts can feel like a Sisyphean task. According to a 2020 LinkedIn report, approximately 69% of prospects received a call from a new salesperson in the past year, but it took an average of 18 calls to connect with a buyer. That’s no surprise—few people appreciate unsolicited votes. But some people argue that cold calling can be successful if done the right way.
One of those people is Alex Levine, CEO and founder of New York City’s Regal.io. Along with Rebecca Green, he launched Regal to build a technology stack to enhance calls and messages to provide customers – as well as sales and marketing teams – with a better outbound calling experience.
“Later [our] “In Angi’s experience building a telesales team with traditional omnichannel contact center software, Rebecca and I realized that there was a huge investment in outsourced telemarketing technology, which was limiting how sales and marketing teams could use the channel,” Levine told TechCrunch in an email. Prior to Angie, Levin worked as a product manager at Thomson Reuters, while Green was a senior product manager in Amazon’s digital music group. We founded Regal to build an entirely new technology stack [calls] This… Although this critical channel gives brands the tools to generate additional revenue.
Investors seem to believe in the vision. Regal today closed a $38.5 million Series A funding round at a post-money valuation of $350 million, led by Emergence Capital and Founders Collective, Homebrew, Flex Capital, Inspeed Capital and Operator Collective. The new cash brings Regal’s total capital to $42.1 million, and will be used for go-to-market and engineering initiatives as well as hiring, Levin said.
Regal’s call and text management dashboard. Image Credits: Regal.io
The Regal Dashboard provides information on call and text messaging tools, where customers are in the sales funnel, and potential conflict areas. “Journey Builder” allows users to trigger calls and texts to “high interest” buyers at specific times; The platform determines intent based on information such as customer website usage, customer relationship management data, and other general behavioral data. Another feature is branded caller ID, which changes the caller ID on mobile phones from an unknown number to a brand name so customers know who is calling.
“Every digital brand uses one-way marketing automation tools to try and remarket to ‘abandoned’ customers,” Levine said. Era is a personal touch.
In a sign that Regal’s vision is resonating with at least some customers, the platform now generates more than a million conversations a month for brands including Angi (formerly Angi’s List), Work Karma, Fidelity Life and Sofa. The startup’s customer base now includes more than 100 marketing and sales teams.
It’s an impressive move to be sure. But the trick has kept it up against competition from companies like Five9, Genesys, Talkdesk, Twilio and Plivo — many of which have millions or even billions in funding. Levin argues that Regal’s benefit is focused on others.
“Especially in a downturn, companies are more focused on converting existing prospects to their sites. This focus has been positive for us because that’s part of the funnel that we positively impact,” Levine said. He added that Regal plans to double its headcount to 80 in the next 12 months.
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