How does it work?
People.ai is the AI platform to automate and improve the work of sales and other customer-facing specialists. The platform collects the data generated by salespeople from over 90 sources and forms business intelligence that is used to improve the process of sourcing and closing more deals. By gathering the current, historical, and industry data it equips the revenue-generating employees with a simple, personalized set of actions that will help accelerate revenue.
The People.ai’s AI has already ingested over 350 million sales activities, 40 million contacts, a sales pipeline of $300 billion and $100 billion in closed and won deals. As a result, the product is able to see what activities and contacts in the buying group are needed to move a deal from opportunity to sale as well as which actions should be taken to make the existing customer buy more. Also, the company’s own data is used to analyze which activity patterns are more efficient and which ones are not and what’s the ideal buying group on the prospect side needed to get the deal closed.
Besides that, People.ai is now launching a new product called “The Wire”. It is a feed of insights that can be used by sales managers for finding leads, receiving tips on how to work with them and eventually close the deals.
People.ai was founded by Oleg Rogynskyi in 2016 in San Francisco. Before starting People.ai he had worked as a sales manager at a Canadian company Nstein Technologies. Like all salespeople, Oleg spent a lot of time entering the prospect data and activity into the CRM system and sometimes it would take a week to clean up the CRM data in the system manually. Later on, he was managing a sales team at Nstein and after that a sales team of his new company Semantria. The idea of the startup was born after witnessing how much time was wasted by sales managers due to manual data entry as well as how incomplete this data often was.
In early 2016 Oleg and his engineering friends created a product to automate the capture of sales activity, contact, and account data from emails, calendars, chat sessions, etc. into the Salesforce CRM.
The startup received seed funding from YC, Shasta, Index, 65+ angel investors, then it was backed by Y Combinator and Lightspeed Venture Partners in a Series A round and in 2018 the company closed a $30M Series B led by Andreessen Horowitz.
In May 2019 People.ai announced that it had raised a round of $60M led by Iconiq. The company is planning to use it to grow its business, build new partnerships and target enterprise clients.
In September 2019 Forbes magazine has published a rating of 50 America’s Most Promising Artificial Intelligence Companies and People.ai was ranked among the top twenty.