Today (Wednesday), DealHub.io, an Israeli startup developing a one-stop-shop platform to help better manage sales processes, announced closing $20 million in Series B funding. The round was led by Israel Growth Partners (IGP), with participation from existing investor Cornerstone Venture Partners.
DealHub’s product helps sales teams better manage communication with their customers throughout the sales process, in what the company calls “Digital DealRooms”. The platform can be customized to help the buyer progress through internal decision making processes. Representatives from the buyer or seller’s side can be invited into the “DealRoom” to help close the deal. Among other helpful customizations, users have access to videos with solutions, presentations, tenders, ROI calculator, legal binding contracts which can be edited on the spot, and more.
“Sales has undergone the largest disruption it has ever seen. Not only have sales teams needed to adapt to more sophisticated and informed buyers, but remote selling and digital transformation have compelled them to evolve the traditional sales process into a unique human-to-human interaction,” noted DealHub.io CEO and co-founder Eyal Elbahari.
DealHub.io was founded in 2014 (as Valooto) by three founders: CEO Eyal Elbahari, CTO Alon Lubin, and CRO Eyal Orgil. The company has close to 80 employees split between offices in Tel Aviv and Texas. Looking through the company’s customers, we noticed more than a few major Israeli companies, including WhiteSource, Allot, Zerto, Gong.io, WalkMe, monday.com, Yotpo, SiSense, DriveNets, Cloudinary, Alogsec, Logz.io, Hibob, and Optibus.
DealHub went through a significant pivot 3 years ago, and CEO and co-founder Eyal Elbahari told Geektime that the pivot included changing the company’s name, product map, and business focus: “Essentially, we started over.” As part of the pivot, the company went from a tool to produce bids to a “platform for managing all stages of a deal; provide insight on customer behavior and interest; and recommend actions for maximum success,” explains Elbahari. According to DealHub, the company has continued its 300% annual growth rate, with strong customer retention.