Israeli SaaS AI co Gong.io raises $20m

Gong.io Photo: Max Moron

The Herzliya company's platform pioneers new category of AI and Machine Learning to improve sales performance.

Israeli SaaS company Gong.io today announced that it has completed a $20 million Series A financing round led by previous investors Norwest Venture Partners and CheckPoint Co-Founder Shlomo Kramer and with the participation of new investors Wing Venture Capital and NextWorld Capital. With offices in Herzliya and San Mateo, the company's platform pioneers new category of AI and Machine Learning to improve sales performance. The company raised $6 million last year.

Serial entrepreneurs CEO Amit Bendov and CTO Eilon Reshef co-founded Gong.io in 2015. Gong.io leverages artificial intelligence (AI) and machine learning to change the way salespeople conduct calls. The company’s patented technology automatically records sales calls and video conferences, transcribes them, and then uses AI and machine learning to analyze hundreds of data parameters within each call. By analyzing sales call patterns and matching them to business outcomes, Gong.io provides actionable insights to salespeople and sales leaders so that they can improve their performance and win many more deals.

The new funding will further support Gong.io’s growth. The company has been more than doubling its revenue for four consecutive quarters and is already helping thousands of salespeople optimize more than $1 billion of revenue at companies like Act-On, SalesLoft, Sisense, Greenhouse, and Zywave. The technological innovation and impact of its product were recently recognized by Gartner, which named Gong.io a 2017 Cool Vendor in CRM Sales.

Bendov said, “Hardly a year since our first sales and it clearly feels like we’re on a rocket ship. Conversation Intelligence is the biggest shift in sales since CRM was introduced. We are humbled by the overwhelmingly positive customer feedback we’re receiving and are already working on a very ambitious product road map to continue the innovation. We will use the latest round of funding to hire dozens of developers and researchers to expand our product and to step up our sales, marketing, and support activities.”

Published by Globes [online], Israel business news - www.globes-online.com - on July 12, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Gong.io Photo: Max Moron
Gong.io Photo: Max Moron
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