Next Generation Unicorn Startups Like Retool, Onna, Ketch, Stytch, and Loom Use RevOps Headless Quote-to-Cash Platform to Power Large-Scale Revenue Operations
SAN FRANCISCO (PRWEB) October 19, 2021
RevOps, the sales automation platform for managing cash quote transactions, raised $ 5 million in a follow-up startup cycle, bringing its total startup funding to $ 6.7 million. The oversubscribed cycle was led by Caffeinated Capital, Coatue Management and Google’s AI-focused venture capital fund, Gradient Ventures. Leading angel investors like Jeff Lawson of Twilio and executives from Airtable, GitHub and Twilio are the team’s primary supporters.
RevOps was founded by Adam Ballai, the first engineer hired at Twilio who built their automated income trading platform before its successful IPO in 2016, and John Solis, one of the platform’s first engineers. form of voice AI PullString, which was acquired by Apple in 2019.
âSales are poised to cut the Gordian knot of mind-numbing red tape and contract negotiation around making deals,â said Raymond Tonsing, general partner and founder of Caffeinated Capital. “It makes sense and the data doesn’t lie, the adoption of RevOps among startups is impressive and I’m thrilled to support these exceptional founders from day one.”
âWe are thrilled to support RevOps in its quest to revolutionize sales software,â said Michael Gilroy, General Partner at Coatue Management. âWe strongly believe that today’s sales software must be automated and highly configurable to keep pace with rapidly changing demand. We were impressed with Adam’s leadership and his vision of creating the modern sales stack for fast-growing startups. “
Sales contract software, often referred to as quote-to-cash, is expensive and time-consuming to set up and manage, and is an afterthought for the big players in CRM. It requires six- and seven-figure budgets to set up, months to deploy, and operates in a walled garden that is nearly impossible to sync across a company’s software stack.
While at Twilio, Adam faced this problem head-on. He built the company’s pioneering billing platform from scratch to scale to over $ 1 billion in annual execution rate. The platform synchronized infrastructure services to automate receivables, payables, reconciliations and pricing engines, and enabled Twilio to launch hundreds of new products per year.
This experience was the genesis of RevOps, which was designed to automate modern sales workflows that evolve faster than human salespeople can handle by hand. As a âheadlessâ platform, RevOps is decoupled and easy to integrate with any other part of the operations stack, as sales teams work more closely with engineering.
âWe are growing rapidly as a business, and RevOps is helping us operationalize our sales infrastructure so that we can be confident of rapid evolution in 2022 and beyond,â said Jonathan Krangel, Chief Strategy Officer and sales operations and success at Retool, a low-code platform for building in-house tools. âYou can’t effectively close deals without a solid stack of cash quotes. RevOps is one of the only modern solutions in this space that feels good for reps and gives our team the integrations and controls we need to feel good with the high quality It is fast becoming an essential of our GTM stack, not only by integrating with our CRM, but also with other platforms we rely on such as Slack, Stripe and DocuSign. “
High-growth, early-stage startups are RevOps’ primary customer base, and HubSpot is increasingly the ecosystem of choice for these companies. RevOps will launch its agreement automation integration in the HubSpot Marketplace to give HubSpot CRM users the flexibility, power and speed they need to scale.
âRevOps has taken one of the most laborious and stressful parts of the sales process, agreements and contracts, and made it incredibly easy to automate and scale,â said Scott Brinker, vice president of the platform ecosystem at HubSpot. âRevOps’ new integration with HubSpot brings powerful deal automation to our customers and supports our mission to remove friction from the sales process and support businesses through every stage of their sales growth. “
âThe modern sales cycle moves faster because it allows customers to explore and buy products on their own terms,â said Adam Ballai, CEO and co-founder of RevOps. âIt requires a modern approach to sales software that is highly configurable, automated, and in sync with the rest of the technology stack. We built RevOps to serve as an automated tuning engine supporting hyper-growing sales teams. “
The funds raised will go first to growing the business, expanding the board of directors and the team at large, as well as investing more resources in integrations and programs for start-ups.
RevOps is a sales automation platform founded in 2018 by Adam Ballai, the first engineer hired at Twilio who built their automated revenue operations platform before its successful IPO in 2016, and the engineer John Solis. RevOps’ automation and collaborative pricing tools help businesses set up, price, quote, and sign agreements easily in seconds. The company is backed by Google’s AI-focused venture capital fund, Gradient Ventures, Coatue Management and Caffeinated Capital. RevOps is a San Francisco-based remote business. For more information visit https://www.revops.io/.
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