Today (Tuesday), Israeli startup Exceed.ai, which develops an AI-driven platform for automating marketing leads through email, chats, and SMS, announced a $4 million Seed funding round. The investment was led by Glilot Capital and West Fountain Global Fund, with participation from Angel investors, including former Red Hat president Alex Pinchev and WalkMe Chairman Gur Shomron.
Almost 40% increase in leads
Exceed claims that its proprietary natural language processing engine reaches an accuracy rate of 97% in understanding a lead’s responses, and is patent-pending for its innovation in the space. The AI assistant responds to questions, objections, and even to “I’m not the right person” messages. When a lead is qualified, the AI Assistant books a meeting directly on the corresponding sales representative’s calendar. The assistant ultimately works alongside marketing teams to ensure every lead is followed up with, nurtured, and qualified care.
While COVID reality has forced a work-from-home lifestyle, the increase in demand for automated solutions requires a remote network for empowering distributed marketing teams to make a significant impact on the B2B marketing process. The company reports that the investment came following its client-based success in the private sector, including enterprises such as SugarCRM, CBORD, and Universal Robots.
“Some of our clients have seen up to a 39.5% increase in qualified leads for the same marketing efforts they already undertake without additional headcount”, says Ilan Kasan, Co-Founder and CEO. “Our strength lies in our multi-channel approach. We reach audiences where crucial conversations occur when marketing teams are qualifying their leads.”
Exceed.ai’s Yaron Ismah-Moshe, Co-Founder and CPO, adds, “we revolutionize a broken and outdated lead scoring system that’s utilized across the industry. Firms are scoring leads based on a prospect’s activities, with little insight into their intent. You can only truly understand a customer’s needs by engaging in conversations with them. With Exceed.ai you can do it at scale.”
Exceed.ai was founded in 2016 by CEO Ilan Kasan and CPO Yaron Ismah-Moshe. The company notes that the funds will be utilized to accelerate growth, expand into new markets, as well as to continue and add more marketing teams to the company’s network.