AI Sales Assistant Startup Sybill Raises $11 Million in Series A Funding
Sybill, a startup specialising in AI-driven tools for sales representatives, has successfully raised $11 million in a Series A funding round led by Greycroft. This new capital boosts Sybill’s total funding to $14.5 million since its founding in 2020. The company differentiates itself in the crowded sales AI market with its advanced assistant that not only provides summaries of sales calls but also offers context-driven insights by analysing multiple call transcripts and emails. Unlike competitors that primarily focus on transcription or simple note-taking, Sybill’s AI integrates a retrieval-augmented generation (RAG) pipeline with existing generative AI models to deliver comprehensive, accurate results. Sybill’s technology automates numerous repetitive tasks such as drafting follow-up emails, updating CRM fields, and summarising key aspects of sales interactions, including budget, buyer, and competition details. This end-to-end solution aims to streamline workflows for sales representatives and enhance overall efficiency. We’ve built our own computer vision models to understand user behavior in the context of the conversation,” said Gorish Aggarwal, CEO and co-founder of Sybill. “These detect non-verbal cues like smiles, nods, and distractions, and match them up with the text to get a deeper understanding of points of interest and pain points.” “Over the last 18 months, Sybill grew revenue 15X, tripled headcount, served over 500 customers, and laid the groundwork to redefine how a modern seller works. Reps are already saving over 2 hours each day with Sybill,” he added. Sybill’s technology integrates seamlessly with popular meeting platforms such as Zoom and Google Meet, and syncs with CRM systems like Salesforce and HubSpot. The AI assistant helps sales teams save significant time by automating CRM updates, drafting personalised follow-up emails, and providing real-time visibility into deals. The startup serves over 500 customers, including notable names like Ngrok, Supportlogic, and Weaviate. Founded in 2020, Sybill has rapidly scaled its annual recurring revenue (ARR) from $100,000 to $1 million within just nine months in 2023, largely driven by word-of-mouth referrals. The company now serves over 500 paying customers across more than 30 countries, with a strong presence in the U.S., Canada, Australia, the U.K., and India. Aggarwal, who co-founded Sybill with Nishit Asnani, said that the tech slowdown has accelerated demand for their cost-effective solutions. The Series A funds will support further development of Sybill’s AI technology and expansion of their team, which is expected to grow from 30 to 40 employees by year-end. Existing investors Neotribe Ventures, Powerhouse Ventures, and Uncorrelated Ventures also participated in the Series A round. The company did not disclose its current valuation.
The startup serves over 500 customers, including notable names like Ngrok, Supportlogic, and Weaviate.
Sybill, a startup specialising in AI-driven tools for sales representatives, has successfully raised $11 million in a Series A funding round led by Greycroft.
["AI Startups", "Fund Raising"]
["Go", "Weaviate", "API", "AI", "Fund Raising", "ML", "computer vision", "RAG", "Aim", "generative AI", "R", "AI Startups"]
["AI", "ML", "computer vision", "generative AI", "Aim", "RAG", "Weaviate", "R", "Go", "API"]
Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.