Because sales teams communicate with customers using a variety of tools, including email, Zoom, and WhatsApp, a lot of crucial information is lost along the sales pipeline. With its sales productivity platform, Nektar.ai aims to address the issue of data leakage. This platform assists SaaS revenue teams in managing information across channels by integrating with various apps and sending critical information to the most practical collaboration tool, such as Slack. After two years in stealth mode, Nektar.ai today declared that it is coming out of it and opening up the platform to the public.
Abhijeet Vijayvergiya, co-founder and CEO of Nektar.ai, told TechCrunch that Nektar.ai’s skills are particularly pertinent right now because of the IT slump, when layoffs, cost reductions, and budget freezes mean that businesses are focusing intensely on efficiency. Nektar.ai’s no-code solution, which collects revenue activity data from email, calendar, chat, and social platforms like LinkedIn across all stages of the customer lifecycle, is intended to replace the gaps and data leaks created by CRM products.
There are numerous business intelligence tools, such as Tableau and Looker, as well as revenue intelligence and forecasting solutions, such as Gong and Clari, according to Vijayvergiya, but they all rely on CRM data. Because of poor user adoption, fragmented systems, and siloed teams, a sales team’s CRM may be missing important revenue data, which indicates that their analytics are inaccurate.
He said that there are two key causes for the low user adoption of CRMs. First, sales personnel are frequently too busy to update the results of their day’s work in a CRM. According to Vijayvergiya, a B2B salesperson’s day is jam-packed with revenue-generating tasks that are crucial for meeting quotas, including numerous follow-ups, endless meetings, research, discovery, demos, negotiating with the buying committee, managing competition, and conducting internal reviews. The second issue is that user interfaces on CRMs are frequently antiquated, which deters sales representatives from updating them.
By connecting with sales people’ inboxes, calendars, meetings (including Zoom and Google Meet), chat (usually Slack), and social networking (LinkedIn), Nektar.ai prevents CRM data leakages and aggregates buyer contacts and sales activities. Nektar.ai’s “capture and sync” accuracy, according to Vijayvergiya, is 95%, and all revenue data from throughout the client lifetime is added back to a CRM.
“Nektar stops the CRM data leakage without requiring the user to take any action. According to Vijayvergiya, “We essentially do away with the necessity for user adoption and free up all the time for salespeople to go out and close deals. Teams are better able to comprehend which sales strategies are most effective because to the greater insight into the sales processes of various salespeople.
When Nektar.ai raised $6 million in a seed round headed by B Capital Group in August 2021, bringing its total funding to $8.1 million, TechCrunch last covered the company. 3One4 Capital, Nexus Venture Partners, and Insignia Ventures are a few of its more backers. Because their CRMs were unified with significantly more buyer contacts and sales activity data during stealth mode, Nektar.ai, which has 32 employees, worked with early customers like Lily AI, MoEngage, and Observe.ai, and claimed that they saw 30% to 35% pipeline growth and an 18% to 22% increase in deal velocity.
Lily AI Senior Vice President Pete Lee stated in a statement, “It’s difficult to determine where to invest your time when you’re uncertain of the accuracy of what you’re looking at. Nektar maintains the data’s accuracy and provides insights into inbound vs. outbound activities as well as actual selling time.