Tuesday, November 12, 2019

19th Mile raises ₹1.2 crores in angel investment

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Gurugram-based 19th Mile, a sales acceleration platform has raised around ₹1.2 crores ($180,000) in angel investment from high net-worth individuals.

Some of its key investors include Rishi Vasudev, Vice President of Fashion at Flipkart, Ritesh Vohra, Partner at IDFC Real Estate Fund, along with Praveen Kumar, Chief Technology Officer, Finxera, and Prashant Gupta, Head of Marketing, Finxera.

The funds raised will be used for the development of the product, strengthening technology team, and increasing brand presence in India and overseas market.

19th Mile Capability Solution Pvt. Ltd, the company behind the artificial intelligence enabled sales acceleration platform was founded by Vijay Gogoi in 2015. It is an intelligent sales management and coaching platform that helps an organization to manage all the aspects of sales.

Vijay Gogoi, Founder and Chief Executive Officer, 19th Mile, said, “We have 20 customers as of now, which are mostly small and medium businesses while there are a few large enterprises too. We have grown over 10 times in the past three years and expect to cross Rs 20 crore revenue in the next three years,”.

Talking about the need for 19th Mile, Rishi Vasudev, Vice President of Fashion, Flipkart, said, “Traditional CRM systems are designed for the CXO. While the new cloud solutions provide technology to teams, there was nothing for the sales representative in the field. Because of that, the adoption rates never went beyond 30–40%. 19th Mile focuses on the seller, thereby making it very sticky with users. We have seen a usage of 80% or more on a weekly basis,”.

There are various other players in the market that are focused on providing sales solutions for its clients. Sales have always been an important aspect of most businesses and these new startups are looking to help them. Some of the major players providing competition to 19th Mile are Frontdesk AI, DigiConnectt, and ZineOne Inc., among others.

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