Outfunnel, a startup that has created software to help businesses “bridge the gap between buying and selling functions”, has quietly raised € 1.1 million in funds.
The pre-seed phase was led by Paua Ventures and byFounders, with the participation of Lemonade Stand, Omnisend and investors from various angels. The latter included, among others, Bol co-founders Markus and Martin Villig, Matterport CMO Robin Daniels, Pipedrive co-founder Ragnar Sass, and longtime Skype manager Sten Tamkivi.
Founded in 2017, Outfunnel co-founders include veterans Andrus Purde (formerly Skype and Pipedrive), Andris Reinman (creator of open source email projects such as Nodemailer and WildDuck) and Markus Leming. The start-up is called a “revenue buyer automation tool” that is designed to work with sales and purchasing functions to generate revenue.
“SMBs are still struggling to integrate sales and marketing data,” Purde tells me. This is the time and money to set up workflows, connect databases to digital tapes and manually download reports. [also] this means that everyone loses opportunities, as well as income goals ”.
Furthermore, there is no context for sales transactions for sales communications and they do not know which leaders are willing to buy, and the leadership does not simply paint a “big picture” with the impact of the campaigns. “Last but not least, we all get a lot of ‘spam’ instead of related messages,” he says.
To solve this, Outfunnel’s hidden sauce finds that it integrates deep with CRM (with Pipedrive, Copper, and the current Hubspot CRM, with more tracking) and comes with various features such as automated emails in CRM communication de, reporting, and actual targeting. It has initially attracted more than 400 customers, with North America being its largest market, followed by European countries and Australia.
Purde adds: “My typical customer is a small to medium-sized business that needs both sales and buyers, and where sales cycles are longer, there is no exchange.” “” It is estimated that it is about 25% of all SMBs. For example, businesses that sell professional, consulting, nonprofit, health care products … That said, we also have some well-known buyers as buyers, like Bolt ”.