The money will be used by the US and Bengaluru-based B2B SaaS firm to employ further people and continue to develop its product and mindshare leadership in the growing category.
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Factors.AI funding news
Factors.AI, a B2B SaaS business located in the United States and Bengaluru, said on Monday that it has secured $2 million in initial investment from Elevation Partners and Emergent Ventures.
Angel investors included Naveen Tiwari, Abhay Singhal, Piyush Shah, Mohit Saxena, Amit Gupta (InMobi Founders), Girish Mathrubootham (Founder, Freshworks), Krish Subramanian and Rajaraman Santhanam (Co-founders, Chargebee), and Ramakant Sharma (Founder, Chargebee) (Founder, LivSpace).
The money will be used to recruit more people and continue to develop the company’s product and mindshare leadership in this new area.
Factors.AI, founded in March 2020 by Aravind Murthy, Praveen Das, and Srikrishna Swaminathan, uses its own AI engine to mine consumer data for insights, resulting in improved campaign decisions and increased ROI for marketing teams.
The company assists marketing companies in streamlining their marketing efforts, automatically understanding how these activities influence sales and demand pipelines and having real-time marketing and advertising funnel insight to a better strategy.
“Discussions with more than 70 B2B marketers revealed problems posed by generic marketing analytics and business intelligence solutions. The input has aided in the development of Factors.AI, the development of a product roadmap for B2B marketing teams, and the development of a community of over 300 B2B marketing experts. The creators stated, “Factors.AI is currently a team of over 30 people working remotely with a mission to set the gold standard for B2B revenue marketing.”
Srikrishna and Praveen were members of the InMobi executive team, and Aravind is a former Google engineer who previously worked at Freshworks. Their work at InMobi and Freshworks exposed them to the critical challenge of demonstrating the revenue effect of marketing efforts, as well as how B2 B’s growth advertising and buyer behaviour are changing dramatically. They founded Factors to solve these issue use cases. AI.
Factors.AI SMAC, an invite-only Slack group with over 300 marketers and advertisers and experts from Freshworks, Chargebee, Hey Digital, and other organizations, caters to the marketing operations and analytics community. Members have access to materials as well as a forum where they can interact, participate, and learn from one another.