Tact, the sales experience platform, today announced the close of a new $15 million funding round. Upfront Ventures led the series B, with its managing partner Mark Suster joining the Board. Microsoft Ventures also participated in the new financing round, along with existing investors Kevin Efrusy of Accel Partners and Satish Dharmaraj of Redpoint Ventures. With the new capital, Tact’s total funding now exceeds $30 million.
CRM has become the most important category in enterprise software. Cowen and Company estimates that CRM will grow to a $51.5 billion market by 2020, eclipsing ERP, operating systems and database markets. Despite CRM’s bullish growth, it continues to have one of the lowest usage rates amongst its users, with 66 percent of companies facing significant adoption challenges, according to CSO Insights.
Tact turns a salesperson’s connected device into an AI-powered smart assistant that automates administrative tasks and creates a frictionless selling experience. It does so by giving salespeople a more conversational and unified way to interact with their essential tools - phone, email, calendar, maps, LinkedIn, CRM and more - through an app, SMS or voice. This drives greater CRM adoption and sales productivity in the field, while delivering more accurate data and forecasts to managers.
The new funding will be used to accelerate the momentum that the company has already achieved in 2016, including:
Leveraging the fundamental shift away from desktop computing, Tact’s device-native, conversational architecture uniquely positions the company to upend CRM’s most persistent problem and transform how people sell.
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Tact.ai is on a mission to make enterprise software more human-friendly. Tact.ai puts sellers first with human-friendly CRM solutions that are frictionless, connected, and prescriptive. Powered by our patented Edge AI platform, Fortune 500 sales organizations -- including Honeywell, Cisco, and one of the largest pharmaceutical companies in the world -- use Tact to change sales behavior and digitally transform how sellers work with customers every day to achieve new levels of productivity and collaboration. Founded by Chuck Ganapathi, who has built three generations of CRM products, Tact.ai Technologies, Inc. is a privately-held company backed by Accel Partners, Redpoint Ventures, Upfront Ventures, M12 (formerly Microsoft Ventures), Comcast Ventures, Honeywell Ventures, Salesforce Ventures, and the Amazon Alexa Fund.