Gong.io, a new software-as-a-service platform focused on B2B sales conversation intelligence, came out of its stealth mode this week and announced a $6 million Series A funding round led by Norwest Venture Partners and Check Point co-founder Shlomo Kramer.
Gong is focusing on what it sees as a big void in the B2B sales and marketing space: the impact of spoken conversations. Gong's technology leverages artificial intelligence and machine learning to help B2B sales teams recognize effective patterns from spoken sales conversations.
"The average B2B sales conversation runs 6,000 words per hour, sales people hold around 20-30 conversations per week, and managers are often responsible for six to 12 reps – impossible math if you're trying to gain a deep understanding of all those calls," Amit Bendov, Gong CEO and co-founder, said in a statement. "Gong provides visibility so sales executives and reps can understand what's happening on every single call."
By tackling the unstructured data from these important sales calls and turning it into actionable information, Gong hopes to help B2B sales leaders close more deals. The information gleaned from these calls can also be used to show marketers and sales reps what kind of language and tactics resonate best with leads and prospects.
Act-On Software is one Gong client that has been using the technology in beta stealth mode.
"In our competitive industry, a great buyer experience is key to winning the business," Chris Hardeman, VP of sales at Act-On Software, said in a statement. "Gong has already helped us identify dozens of sales coaching and development opportunities to help us deliver better experiences for our buyers, and now the technology is at the top of our sales stack."
The solution is cloud-based and works by analyzing spoken conversations from almost any audio source, as well as web conferencing platforms like Cisco WebEx, GoToMeeting and Zoom, then sends the data back to CRM systems.
- read the complete statement announcing the funding