Startup Scalestack, an AI-powered sales co-pilot for large enterprises, raised $1M in a seed round in November 2023.
Among investors are Flyer One Ventures, Ripple Ventures, Forum Ventures, Founders Network Fund, and notable angel investors, including leaders in sales ops, serial B2B entrepreneurs, and executives at Salesforce.
Here are three reasons why Flyer One Ventures invested in Scalestack.
Reason #1. Co-founded by ex-BD director of AWS with 2 sold startups
Scalestack was co-founded by Elio Narciso and Alessandro Prioni, both of whom have impressive startup backgrounds.
Narciso has already sold his two previous startups, ad-tech platform Mobave and mobile content company Zero9. He also operated as a BD director at Amazon Web Services, where he managed a global startup program for mid- and late-stage enterprise tech startups, including Zapier, Airtable, and Webflow.
During his experience with startups through the AWS Global Startup Program, Narciso realized that salespeople spend only 28% of their time actually selling, while the rest of the work time is wasted on researching and organizing data manually. That’s how he came up with the idea of launching a tool that brings all of GTM data together, suggests prioritized actions, and helps execute business sales plays.
Alessandro Prioni previously co-founded The Design Project which hit $1M ARR within 2 years. He also served as a COO at Measurence for 6 years and has great experience in operations.
Reason #2. Big client MongoDB increased revenue with Scalestack
Focusing on partnerships with big companies, Scalestack has signed contracts with MongoDB (used by Toyota, Forbes, Powerledger) and Typeform (used by Apple, Uber, Nike) as customers in the first year of operations.
With the AI-sales co-pilot, MongoDB increased its revenue, getting 100,000 accurately enriched accounts per month. The publicly traded company has already expanded its contract with Scalestack for the next year and significantly increased its spending on the tool.
After multiple months of using Scalestack, MongoDB’s senior director invested in the startup as an angel.
In June 2023, Scalestack started to work with Typeform. As a result of its collaboration, Typeform achieved a 96% lead enrichment rate on average, highlighting the AI tool's ability to prioritize leads and blend with other tools the company uses.
Reason #3. Solid product-market fit
The AI Sales Assistant Software Market, valued at $30 billion in 2022, is projected to grow to $93 billion by 2032, at a CAGR of 11.7%.
The predominant focus within this industry has been on tools aimed at the lower segments of the sales funnel. This conventional approach typically involves a manual — hence, often cumbersome — process of entering prospect data.
Scalestack automates processes at the top of the sales funnel. That allows reps to focus on more strategic aspects of sales, like building relationships and closing deals — not on getting bogged down in data entry and initial prospecting.
A bit more about the startup
Publicly launched in 2022, Scalestack brings order to chaotic GTM data, saving sales managers up to 70% of their time.
Its AI-based tool reads and trains on ZoomInfo, Crunchbase, LinkedIn, the CRM tool of a business and other data, creates an ideal customer profile, and prioritizes clients based on this info. It provides recommendations on how to maintain good relationships with potential and existing customers, including writing emails.
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