Pepsales announces pre-seed funding
Pepsales, an AI-powered SaaS platform for sales teams, today announced it has raised $1.1 million in pre-seed funding. The round was led by Chiratae Ventures, with participation from angel investors in the Bay Area and founders and CXOs from India's startup ecosystem.
Pepsales vision for B2B SaaS Sales
Founded by Ajay Singh and Abhinandan Sahgal in 2023, Pepsales leverages artificial intelligence and machine learning to help B2B SaaS companies create personalized product demos that click with potential buyers. The platform aims to address a critical pain point in the sales process, where 80% of demos fail to impress buyers due to their generic, one-size-fits-all approach.
"Imagine if every B2B SaaS company in the world is able to create personalized demos for every buyer at every touchpoint with their buyer. Software buyers want to see product demo in the first meeting with the sales team," said Ajay Singh, Co-founder and CEO of Pepsales. "Our solution is designed to make this vision a reality, empowering sales teams to deliver truly tailored demos that captivate their prospects."
Pepsales funding for AI Platform for Demos
Pepsales' proprietary technology analyzes customer and product data to tell what buyers want, which features to show, and create live demos with personalized data. This approach automates the personalization process, mimicking the expertise of seasoned sales engineers while saving valuable time and resources.
The $1.1 million in pre-seed funding will enable Pepsales to aggressively scale its operations and take on the massive global enterprise software market. The company will leverage the fresh capital to develop an enterprise-grade AI SaaS platform and assemble a world-class team of product, technology, and AI talent. Additionally, Pepsales will bolster its sales and marketing functions to drive adoption among B2B tech companies in key markets like the United States and India. The company is currently working closely with reputable SaaS clients in these regions to gather real-world feedback and refine its product offering.
"If you show a demo to Nike which is meant for Nike and not for Mercedes, chances are you can improve your wins by 50%. Using Pepsales, you can do it in 3 clicks," added Abhinandan Sahgal, Co-founder and CTO of Pepsales. "Our proprietary AI and ML technology automates the process of creating personalized demos, saving sales teams countless hours."
"We spoke to 140 sales leaders in 80 B2B SaaS companies and realized that demos are mission critical to sales but 80% of demos fail to impress buyers due to their generic, one-size-fits-all approach," said Ajay Singh. "Pepsales is on a mission to change this, helping companies win more deals by delivering demos that truly resonate with their target customers."
Chiratae Ventures on Pepsales
Venkatesh Peddi, Managing Director at Chiratae Ventures, commented, "At Chiratae, we invest in visionary teams addressing large, untapped market opportunities. Pepsales is tackling a critical pain point in the massive B2B tech sales landscape with an innovative, AI-driven approach. Their solution has the potential to transform how companies conduct product demos and close deals. We're excited to support Ajay, Abhinandan, and their team as they work to revolutionize the sales process for B2B tech companies globally."
Chiratae Ventures is a 18 year old fund with $1.3 Billion AUM known for IPOs and Unicorns like Newgen Software, Uniphore, Flipkart, Lenskart, Policybazaar, etc.
Pepsales on Personalized Demos in B2B SaaS industry
Pepsales is targeting the global enterprise application software market, which has an estimated annual sales and marketing expense exceeding $190 billion. Demo Automation Category was recognized by Gartner as the Top ranked new category of 2023. The company is currently offering early access to its platform at https://pepsales.ai/.
Ajay Singh emphasized, "Growth rate of even the best B2B SaaS companies became half in 2023 compared to what it was in 2020. There is no better time to attack this problem than now."
"We use Gen AI and Machine Learning to analyze all customer interactions and product usage to create personalized demos for a buyer in 3 clicks. Most of the existing solutions create clone of product and requires manual edits which creates more problems than solving it," said Abhinandan Sahgal. "A salesperson does 10 to 15 demos per week and each demo requires 2 hours to 8 days to personalize depending on the product complexity, buyer needs, and experience of sales person. This is an overstretched team which is expected to spend time which they don't have on a critical task important to their buyers. Pepsales solves this problem elegantly."
About Pepsales
Pepsales is an AI-powered SaaS platform that enables B2B SaaS sales teams to create personalized product demos in just a few clicks. By leveraging artificial intelligence and machine learning, Pepsales aims to help companies improve their win rates by 50% and double their sales productivity. For more information, visit https://pepsales.ai/.
About Chiratae Ventures
Chiratae Ventures is a 18-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.3 Bn AUM, 130+ investments, 50 exits, 9 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as ConsumerTech, SaaS, FinTech, and HealthTech and have been early backers of companies such as Curefoods, Cult.fit, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.
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