The Israeli startup analyzes a company’s incoming emails to forecast potential deals
Companies around the globe are constantly looking for new ways to improve their sales teams’ efficiency, with many methods relating to their CRM (customer relationship management) software. To aid this process, Salesforce has acquired the Israeli startup Implisit, which developed a technological solution for forecasting potential deals through analysis of sales teams’ and their clients’ correspondence and existing documents.
The Wall Street Journal reports that Salesforce has acquired the company for “tens of millions” of dollars, citing people familiar with the matter. Salesforce is in the midst of a startup acquisition campaign, with five different company purchases in the last five months: MetaMind, PredictionIO, SteelBric, MinHash, and now Implisit. The enterprise giant has also purchased Israel startups in the past: In 2011, Salesforce bought Navajo Systems, followed by the buyout of BlueTail a year later.
The system predicts promising wins for your sales team
Implisit has built software that is essentially another layer of analysis on top of the company’s corporate CRM systems. Its technology combines full automation, algorithmic data mining, and intelligent data entry to provide meaningful insights for its client’s sales teams.
Implisit’s system knows how to dig through the sales team’s textual information and help them in every aspect of their CRM activities. It uses emails and different modes of communication between the sales team and the client to estimate the likelihood of a potential sale and provide predictive analytics.
The system ensures that the CRM data is always complete and accurate and allows salespeople to improve their productivity by focusing solely on their sales efforts. It also includes a forecasting engine that directs the company and its sales team to the most relevant opportunities at that given moment.
Implisit has already amassed a sizable list of clients, mostly American, with companies such as WalkMe, Taboola, and Kenshoo among them.
Implisit was founded in 2012 by Gilad Raichshtain and Elad Donsky, two entrepreneurs who hit the tech world at a fairly young age. Both co-founders started college at 15, while Raichshtain started working at Intel when he was 16, becoming its youngest engineer at the time. After being released from the IDF, the two were employed by the Israeli prime minister’s cabinet for a period of 5 years and in 2012 launched their first startup.
Since its establishment, Implisit has reportedly raised $3.3 million in funding rounds led by Gemini Partners Fund, which encouraged Rotem Eldar, a partner at Gemini Funds, to join the company’s Board of Directors.