Weflow Raises $3.2M Seed Led by Gradient, Google’s AI fund, to Scale its Revenue Platform
Berlin, Germany - July 7, 2023 - Weflow, the sales performance & intelligence platform, announced a $3.2 million seed round led by Gradient Ventures, Google’s AI fund, with participation from Cherry Ventures, Hello World VC, and business angels Bo Pedersen (Quantive), Andreas Bodczek (IDnow), and Christian Edler.
“Scaling multiple SaaS companies, we observed that most revenue teams put a lot of effort into keeping Salesforce data accurate and still don’t achieve data hygiene. This often creates friction within the team: reps are annoyed by time-consuming data entry, frontline managers lack deal visibility, revenue operations have a hard time driving process adoption, and leadership lacks pipeline visibility and forecast accuracy. The revenue process is simply broken for many revenue teams,” states Janis Zech, co-founder and CEO of Weflow.
Recent reports confirm these industry-wide challenges. According to Forrester, the average quota attainment of B2B sales organizations is only 47%. Korn Ferry outlines that 75% of sales organizations forecast with an accuracy below 75%.
With its first version, Weflow built a revenue workspace that feels like merging Notion with Airtable. The one-stop-shop allows effortless CRM data capture, deal insights, and pipeline management - all deeply integrated with Salesforce, Google Workspace, and Microsoft 365.
Weflow’s latest release introduced collaborative forecasting and pipeline analytics, moving toward an all-in-one platform for revenue management that makes isolated tools obsolete. This addition marks a significant milestone in Weflow's roadmap toward a unified revenue solution that empowers reps, managers, revenue operations, and executives alike.
With the new funding, Weflow is doubling down on its efforts to integrate AI deeply within its platform, supporting the entire revenue in managing the complexity that revolves around the sales process.
Deals in B2B SaaS typically need dozens of meetings, emails, and calls until they close. Making those data points available, structuring them, and surfacing actionable insights to individual contributors and managers alike - such as the likelihood of closing or recommended next steps - is one of the core areas Weflow invests in. In addition, Weflow plans to incorporate these data points into its predictive analytics modeling to improve forecast accuracy to further set itself apart from its competition.
“AI is changing how we work in every way and Weflow is finally bringing real innovation to CRM by making revenue pipeline analysis truly intelligent,” said Darian Shirazi, General Partner at Gradient Ventures. “Revenue teams are looking beyond the basic CRM and asking for what’s next to drive more meaningful connections with customers. We’re excited to partner with Janis and the team at Weflow as they bring much needed innovation to the sales force automation landscape.”
Zech concludes: "We are thrilled to have secured this seed funding and to have the support of strong investors who believe in our mission to transform the way revenue teams work. This investment will enable us to evolve into a unified platform, and allow us to further invest in predictive analytics and AI-tooling for revenue teams.”
Customers like Zeotap, Remerge, or Project Canary affirm the direction of Weflow’s latest developments.
“We’re seeing a marked improvement after starting to use Weflow: with clean Salesforce data, we have much better visibility as a management team, our current quarter forecast is always up-to-date, and we are now tracking all sales-related emails and activities,” Chris Mackinnon, VP of Revenue Operations at Zeotap, says.
[Read more on TechCrunch]
About Weflow
Weflow is a leading sales performance & intelligence platform. Revenue teams grow revenue with a tool designed to improve Salesforce data hygiene, pipeline visibility, and forecast accuracy.
Weflow has received outstanding reviews and a 4.8 star rating on G2. Hundreds of the world's most innovative companies, like Zeotap, Remerge, and Project Canary, drive more revenue with Weflow. The company is backed by Gradient Ventures, Cherry Ventures, and the founders of Contentful, Pitch, Quantive, Soundcloud, among others. For more information, visit getweflow.com.
About Gradient Ventures
Gradient Ventures, Google's AI-focused venture fund, helps founders build transformational companies. The fund focuses on helping founders navigate the challenges in developing new technology products, using the latest best practices in recruiting, marketing, design, and engineering so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.
About Cherry Ventures
Cherry Ventures is an early-stage venture capital firm led by a team of entrepreneurs with experience building fast-scaling companies such as Zalando and Spotify. The firm backs Europe's boldest founders, usually as their first institutional investor, and supports them in everything from their go-to-market strategy and the scaling of their businesses. Cherry Ventures has previously invested in the seed stage of over 60 companies across Europe, including FlixBus, Auto1 Group, Infarm, Rows, and Forto. Cherry Ventures is based in Berlin and invests across Europe with operations in London, and Stockholm. For more information, visit https://www.cherry.vc/
