PreSkale secures funding round for capturing PreSales Intelligence to create sales playbooks
Coimbatore : Tech start-up PreSkale is capturing intel that helps people close a sale and is shining a light on the growing army of ‘PreSales’ teams to become revenue creators . The PreSkale proposition and their all-in-one PreSales intelligence platform has raised a $500,000 pre-seed funding round today led by BoldCap with participation from PointOne Capital and strategic angel investors including Sathya Nellore Sampath, Ajith Sowndararajan, Vaidhyanathan, Jayagopal and Archana Priyadarshini.
PreSkale was founded in 2021 by Ajay Jay (Co-founder & CEO) and Prashanth Ganesh (Co-founder & COO) to improve product adoption early in the sales cycle and connect PreSales insights with go-to-market teams.
During his time at Freshworks & RFPIO, Ajay worked with enterprise clients — managing documents, meetings, product discussions, POCs, RFPs, and other assets across a dozen tools. The workflow was super-tedious, and lacked a centralized platform to offer a well rounded product evaluation experience. Ajay quickly realized his efforts and time weren’t documented either, and it was impossible to track or analyze PreSales influence and contribution across the sales lifecycle.
He started creating one-pagers to store evaluation plans and customer interactions during evaluation. These one-pagers were an instant hit during internal strategy discussions and with external stakeholders as well, as they helped get more done, faster. Ajay collaborated with Prashanth to iterate on this idea, and with an urge to solve these challenges they started building the platform for everything PreSales.
According to McKinsey, the PreSales engine can yield a five-point improvement in conversion rates, a 6–13% improvement in revenue, and a 10 – 20% improvement in the speed of moving prospects through the sales process. McKinsey found that companies with strong PreSales capabilities consistently achieve win rates of 40 – 50% in new businesses and 80 – 90% in renewal businesses — well above average rates.
Recognising the change in buyers mind-set and the impact of PreSales within the Go-To-Market ecosystem, G2 has announced PreSales as a new category in April 2022.
“PreSales stands to be one of the most influential, and impactful go-to-market (GTM) functions for all B2B teams. Yet, today PreSales doesn’t garner the same value as other GTM teams. We’re building PreSkale to level up PreSales operations for PreSales Engineers, and organizations. From managing day-to-day account tasks, notes, and meetings to generating master-playbooks filled with valuable insights to help PreSales engineers build better product experiences, and improve product adoption, PreSkale does it all” commented Ajay Jay, Cofounder & CEO of PreSkale
PreSkale will use the funds to grow its customer base by 20x and team size by 3x over the next 12 months. It will also invest in Go-To-Market strategy and marketing initiatives to increase reach and awareness.
“PreSales is a relatively large team in most companies, and they generally collaborate across sales, product, and engineering teams. They enable sales teams to sell better and bring customer intelligence, and product requirements back to product and engineering teams. They are important, yet a massively underserved team, and that’s what got us excited” commented Sathya Nellore Sampat, General Partner at BoldCap.