You know that feeling of anxiously waiting for your paycheck to come in so you can finally head out on a shopping spree? Well, Israeli Unicorn Gong definitely didn’t wait long at all to make it rain, after landing $200 million in a Series D funding round just one month ago based on a $2.2 billion evaluation. Today (Tuesday), the Unicorn company announced that it’s acquiring Israeli startup Vayo, the acquisition price and details have yet to be made public.
Now the company has even more resources for collecting data
Gong’s innovative system records every digital or phone interaction that an organization has with its customers, whether it’s sales calls, service calls, or technical support. Then the system analyzes the interaction by identifying patterns, trends, and the truly important insight in order to create valued improvement tools for sales teams. This further helps not only in increasing sales but reducing the bounce rate and expanding an organization’s market share. The system provides deep data insight capable of displaying a salesperson’s chance at closing a deal, while also alerting management to transactions that require their involvement.
Vayo also operates in the sphere of collecting, organizing, and analyzing data for customers. Vayo’s organizational SaaS product leverages machine-learning capabilities and language analysis to organize a company’s dispersed data. The company was founded in 2017 by CEO Avshi Avital and CTO Yarin Benado, formerly VP of R&D at Indeni. Vayo’s platform is capable of creating insight and identifying opportunities for sales teams, and more importantly for Gong, the system is able to unify data from different sources like Google Analytics, Mongo DB, SalesForce, HubSpot, and more. CEO Avital and 4 of his Vayo employees will join Gong effective immediately.
In an interview with Geektime from last month, Gong CEO and co-founder Amit Bendov hinted that the company is planning on announcing something big: “Cash allows you to buy companies and grow fast, and secure reserves for the tough times. As we know, our reality can change in the blink of an eye.” Gong was founded in 2015 by CEO Amit Bendov and CTO Eilon Reshef. Since it was established, the company has raised a whopping $334 million. The company holds a team of 350 employees split between offices in the U.S. and Israel, with the latter becoming the brand new home for the incoming Vayo team.