Zomentum, A US-headquartered sales acceleration startup built exclusively for IT channel partners, today announced that it has raised its Series A funding round of $13 million from Elevation Capital, Accel and Greenoaks Capital. The round also saw participation from Eight Roads Ventures. Accel and Elevation Capital are following up their seed investment into the startup.
Small and medium businesses of the world continue to be vital enablers of any economy. They need the best of breed technology to thrive, grow and compete against larger enterprises. Zomentum was founded by Shruti Ghatge and Rahil Shah in 2018, with the vision to equip SMBs with this enterprise-class technology for their businesses.
As Shruti Ghatge puts it, "SMBs are often so focused on helping customers that they end up strapped for time to select the right technology that suits their business needs. Increasingly, more and more IT channel partners are assuming the role of trusted advisors to these SMBs for their technology needs.”
Zomentum aims to nurture a strong IT partner network that acts as an effective sales channel to penetrate the hyperlocal IT market. The startup wants to fuel the next $100 billion in IT economic activity worldwide and revolutionize the way businesses of the world buy IT services and products.
Recent hires demonstrate Zomentum’s commitment to the channel. Former Datto executive Mario Pirolozzi joined the team in January and will serve as Vice President of Sales. Shannon Mayer, who previously managed channel development at the ASCII Group, came on board late last year as Vice President of Customer Success and is working closely with the IT services community to enhance partner training and education programs. The recent investments will fuel development in those areas.
"We see an opportunity to leverage the power of AI and data science to enable business insights for these channel partners. We want our partners and their clients to leverage AI-enabled Business Intelligence to help gain actionable insights and take smart decisions, something that until now, was available only to enterprises'', says Rahil, Co-Founder and CTO
Zomentum was built to be a CLOUD-first and Customer first solution, as opposed to other legacy vendors who’ve catered to MSPs. With the increasing penetration of global SaaS, IT channel partners are looking for a sales platform that aligns them better with a customer-first business model - through an extensive and trusted channel partners network.
Unlike legacy solutions available in the market, Zomentum was conceived from the ground up to be the platform that fuels the modern IT economy by helping IT partners work closely with their clients, win trust and forge fruitful long-term business relationships
On average IT partners across the globe can create documents 70% faster, close twice as many deals with a 600% increase in deal value, and are seeing 20% increase in conversion using Zomentum tools. The sales platform is an IT channel crowd favorite and is growing rapidly with new customers introducing other IT partners that they trust.
Zomentum is the world's first IT sales acceleration platform that helps IT channel partners bring momentum to their sales process, automate sales workflows, create professional proposals, become data-driven, and grow their business. Partners across the globe use Zomentum to fuel their revenue, improve productivity, and grow their business. Our mission is to nurture a strong and trusted IT partner network that makes the IT buying process enjoyable and more human for the world's small and medium businesses. Zomentum is Headquartered in San Francisco with offices in the US and India. Learn more at www.zomentum.com or follow us on LinkedIn, Twitter, or Facebook.