New York-based Vymo, a start-up that operates in the $ 45-billion customer relationship management (CRM) market, has raised $ 18 million in Series B funding from Emergence Capital.

Emergence Capital is an enterprise cloud venture capital firm that has previously invested in leading SaaS companies such as Salesforce, Box, Veeva and Zoom.

Business growth plans

Vymo had wound up Series A funding of $5 million from Sequoia Capital in November 2016, proposes to use the latest infusion to expand business in the US, Japan and the Asia-Pacific regions.

“We will also consolidate our growth and leadership position in the sales force automation market in India,” Yamini Bhat, co-founder and CEO, Vymo, told BusinessLine .

“We’re excited to partner with Emergence Capital, and leverage their experience in building products and companies that offer deep end-user value by learning from behavioural data,” she added.

Vymo is a mobile-first personal sales assistant that automatically captures data of sales activities, learns from the best sales representatives in an organisation and suggests next best actions contextually.

It helps eliminate manual reporting of data into CRM systems, enables managers to make coaching interventions in the moment and helps leaders plan their business with data-driven insights.

Over a lakh salespeople at over 50 global enterprises — including AXA, Allianz, AIA, Generali, and Sumitomo, and the top banks in APAC — use Vymo’s contextual intelligence to guide their business.

Conventional CRM space

Conventional CRMs have long suffered from poor adoption. Gartner has noted that “Field reps aren’t going to live in salesforce automation. That ship has sailed.”

The fintech disruption has spun financial services organisations into a tailspin with many adopting digital and integrating technologies at will to combat potential loss of market share.

However, people do not just want the convenience of digital but also mean to have deeper relationships with real people. An EY report has quotes 79 per cent of business buyers saying that it’s absolutely critical or very important to interact with a salesperson who is a trusted advisor, which yields a 50-plus point increase in net promoter score.

Organisations are using Vymo to enable salespeople move beyond the transactional to build trusted relationships with their customers, which is key to growing their business.

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