The funding will accelerate Budys AI development, focusing on tasks such as optimising Salesforce setups and improving sales pipeline efficiency | Photo: X@rtpvc2 min read Last Updated : Oct 16 2024 | 1:21 PM ISTVenture capital firm RTP Global led a $4.2 million pre-seed funding round in Budy, which uses artificial intelligence (AI) to assist other companies in using sales and marketing software.The investment had other backers, including executives of technology companies Postman and Pure Storage, said Budy in a statement on Wednesday.Click here to connect with us on WhatsAppThe startup addresses a common problem at enterprises: Too many software tools affecting operations.
Its AI solutions fix this by improving how existing software is used rather than putting up new systems.Budy's mission is born from founder Samay Kohlis previous experiences.
This is my second startup.
The previous company scaled up to about $100 million, and as it scaled, I felt every time we went through one stage, we needed to implement new sales and marketing software so that we can accelerate our growth.
But what I realised was every time you would put in a new sales and marketing software, it would only make things tougher and more complex, he said.Budy presents a problem-solving opportunity across industries, said Nishit Garg, partner at RTP Global.
Anybody who uses these marketing and CRM (customer relationship management) software goes through these issues, and the complexities just keep on increasing, he said.Budy is one of the first startups to be financed by RTP Global's billion-dollar fund.
We are very early into our fund deployment cycle.
Probably it will take another two and a half years to deploy this, said Garg.Budy said the funding round will help it in AI development and improving sales efficiency.
It aims to assist high-growth companies that have revenues between $25 million and $200 million.
We have three [customers] right now that we're working with, and then we're looking to add one or two more, said Kohli.Budy's AI technology reduces operational inefficiencies by doing a lot of the mundane tasks of setting up instances, cleaning them up so that you can concentrate and improve your processes rather than make them more complex, said Kohli.
By automating processes typically handled by developers, Budy reduces the time it takes to implement sales and marketing software.First Published: Oct 16 2024 | 12:28 PMIST