Zomentum, a maker of sales management and automation software for MSPs, has secured $4.1 million of seed capital from SAIF Partners, a venture and growth capital firm that focuses on businesses in India.
Founded in in India in 2018, Zomentum is now headquartered in San Francisco. The new funding at its disposal, which arrives at a time when the company is growing some 45% month over month despite the fierce global recession brought about by the coronavirus pandemic, will help the young vendor accelerate its product roadmap, according to channel chief Ted Roller.
“We are essentially increasing the development investment dramatically [and] hiring a lot of developers,” he says, adding that the company will use some of the money to expand a salesforce set to include about 20 people by August.
“Nobody wants to take their foot off the gas,” Roller says. “We just want to keep driving towards adoption.”
Zomentum’s software, which officially debuted last June, is designed to provide an end-to-end toolkit for gathering leads and converting them to closed deals. Tailored closely to the specific needs of MSPs, the product includes CRM functionality and tools for building proposals, producing network assessment reports, collecting electronic signatures, and automating common tasks like scheduling sales-related activities and sending follow-up emails.
The system integrates with PSA systems from ConnectWise, Datto, and Kaseya, as well as Google Gmail, Microsoft Outlook, and online ordering platforms from distributors D&H, Ingram Micro, SYNNEX, and Tech Data. According to Roller, connections to ConnectBooster, Infusionsoft, SyncroMSP, and other solutions are in the works and will be available sooner thanks to the extra cash now at Zomentum’s disposal.
“We’re going to be doing a lot more integrations over the coming 12 months,” he says.
The company plans to add native network assessment functionality to the platform. At present, users perform assessments on third-party tools and then import the results into Zomentum for reporting purposes.
SAIF’s investment is actually the second in Zomentum’s brief history. Venture capital firm Accel, which helped fund Facebook, Slack, Dropbox, and Atlassian, among others, in the past provided seed money as well in 2018.
Zomentum is one of the emerging and underappreciated companies on ChannelPro’s Vendors on the Vanguard list for 2020.