NEW YORK, Feb. 16, 2022 -- Advisr, the leading sales operating system for B2B enterprises, announced the close of a new $5.75 million financing round led by Next Frontier Capital, based in Bozeman, MT. The round also included follow-on investment from several existing investors, including New York City-based Granite Capital. The completion of this round brings Advisr's total funding to $13 million.
The new funding was largely driven by the success the platform has had to date. Net-new customers and expanded platform usage all generated explosive adoption metrics over the past year. The company experienced a 336% year-over year increase in the number of customers accessing the platform and a 1144% increase in platform usage.
Founded in 2018, Advisr helps businesses automate sales processes, improve deal quality and capture more revenue. They offer a suite of tools for sales organizations including product recommendations, automated management of presentations, collateral and contracts, as well as unified and streamlined sales workflows, actionable sales data and business insights.
"Advisr's momentum in market is a result of how well suited the platform is for today's sales environment and the needs of sales organizations across verticals," says Will Price, Co-founder and General Partner at Next Frontier Capital. "We've been incredibly impressed by their deep understanding of the space, their execution and ability to win the market's largest players as customers, and their vibrant team culture."
In order to support the company's growing customer base across the United States, particularly on the West Coast, Advisr has also established a hub in Montana. This represents the latest example of a trend in which more and more tech companies are setting up shop in the Rocky Mountain region. The move will allow Advisr to take advantage of the current remote work environment, the region's affordability, its network of universities and colleges to recruit from, as well as tap into sophisticated venture firms like Next Frontier Capital, who are designed to help startups thrive in the region.
"We've experienced rapid growth over the past few years. Our headcount has more than doubled since the end of 2020 and the completion of this round of funding will enable us to continue to support our exponential commercial growth while continuing to provide superior service and support wherever our customers are located," says Quique Nagle, founder and CEO of Advisr. "We're thrilled to be expanding our footprint and establishing a hub in Bozeman, Montana."
To date the Advisr platform has been adopted by a range of companies across the US within the media and digital sales ecosystem. Clients include Glacier Media, Hubbard / 2060 Digital, Bonneville, Beasley Media Group, and AffinityX.
The average customer using the Advisr platform drove a 5x increase in proposal creation and a 60% increase in order value. Additionally, sales cycles decreased by 10 days on average and sellers reported a 3x increase in products sold per order.
Adds Advisr CIO Peter Fernquist, "Our platform brings a level of intelligence and efficiency to sales activity that is game changing. It helps sales organizations surface actionable product and market insights and streamline their entire sales process, giving them the ability to adjust strategic initiatives in real time."
ABOUT ADVISR
With headquarters in NYC and a growing presence in Bozeman, MT, Advisr helps sales organizations become more efficient and effective in their sales engagements. In three minutes or less, the technology recommends the right data-driven product mix for every campaign, enabling sales teams to capture more revenue and increase share of wallet. Our platform also automates pre-sale workflows, freeing up sales teams to work faster and pitch more business, while giving managers visibility into every sales conversation instead of just the outcome. Learn more at: http://www.advisr.com.
Original article posted by PR Newswire on February 6, 2022.
MEDIA CONTACT
Katie Campisano
Kamp Media
Relations for Advisr
1-908-247-8678
katie@kamprelations.com