Vymo, a San Francisco California-based Intelligent Sales Engagement platform for Financial Institutions, has raised $22M in a Series C funding round led by Bertelsmann India Investments, with existing investors Emergence Capital and Sequoia Capital participating. As part of the financing, BII’s Rohit Sood will be joining the company’s board.
“2021 was a momentous year for us with more than 20 percent quarterly growth, 142 percent NRR, zero logo churn, entry into the US with wins like Berkshire Hathaway, and onboarding some of the largest Insurers in Japan. Sales tech is a $10 billion opportunity in just these two countries, and this fundraiser will help us accelerate our growth plans for these markets,” said Yamini Bhat, Co-founder and CEO.
Vymo, the Gartner-recognized Sales Engagement Platform for world-leading enterprises
Vymo was founded in 2013 by Yamini Bhat, a McKinsey alum, and Venkat Malladi, a Google alum, and has since snowballed on the back of major enterprise client wins across Asia, Japan and North America and partnerships with world-leading companies such as Microsoft, Salesforce, Softbank, Lineworks, and EY.
Vymo is headquartered in San Francisco and has offices in Singapore, Bengaluru and Tokyo.
Post pandemic, coaching remote sales teams has become a massive challenge for enterprises. Sales managers cannot observe their teams in action, and lack of timely coaching and interventions is driving around 40 percent attrition in sales teams and a breakdown in productivity.
CRMs, with greater than 30 percent adoption within sales teams, do not capture the behavioral signals required to identify skill-will gaps and assist sellers and managers with pre-emptive guidance.
Vymo’s ability to capture sales engagement across channels, distill behavioral signals and translate these into actionable nudges has gained massive importance in a remote-first world.
Data do the talking
Vymo’s churn and adoption metrics prove the point. Vymo has a staggering NRR (Net Revenue Retention) of 142 percent – easily the top 0.5 percentile globally among SaaS companies. With DAU (Daily Active Usage) of over 75 percent across 250,000 users in 8 countries and 60 mins per day time spent by users, its engagement is stronger than Slack or Instagram.
Having become the go-to choice for large sales teams, Vymo added a user every three minutes in 2021. Vymo’s is uniquely positioned to help sales teams realize their potential with deep verticalized playbooks directly impacting business outcomes.
Vymo’s intelligent nudges and suggestions have a high degree of compliance and have proven successful in influencing behaviors bottom-up at scale. Also, with the fastest deployment times in the industry, customers have realized the value in less than six weeks!
“Vymo is building the next generation of intelligent sales automation tools driving huge and direct impact on its clients’ toplines across the globe. The engagement on the product is something we have never seen before in any product in any field. Yamini and Venkat’s market understanding and execution focus is exceptional, and we are delighted to partner with them”, said Rohit Sood, Partner at BII.