SiftHub raises $5.5M led by Matrix Partners India & Blume Ventures
Mumbai, Wednesday, 3rd April, 2024: SiftHub, an AI platform for sales, raised $5.5 million in a seed round led by Matrix Partners India and Blume Ventures, with participation from Neon Fund. Harshil and Shashank (Founders of RazorPay), Arvind Parthiban (Founder of SuperOps), Manish Jindal (ex-GM at Cloudflare), Andrew Johnston (Head of Sales at Superhuman), and several other angel investors also participated in the round.
SiftHub is on a mission to change the way sales and presales teams discover knowledge and generate responses to boost productivity by up to 80%. Today, information used in ad campaigns, email marketing, and a company’s website equips buyers with a basic understanding of a product or service well before a sales meeting. This means sellers need deep product knowledge and easy access to proprietary company information to win new customers. Unfortunately, the current sales tech stack does not support this foundational shift in the role of sales and presales teams. SiftHub is well positioned to disrupt this market.
SiftHub’s AI platform revolutionizes how sales and presales teams discover up-to-date information and generates accurate responses grounded in company knowledge. This ensures swift and informed interactions, avoiding any delays that could lead to missed opportunities. One-click integrations with workplace apps such as CRM, content repository, knowledge base, and more allow SiftHub to bring all enterprise knowledge into a single, accessible hub. Its unified semantic search capabilities make it easy to find the right information at the right time without toggling between screens.
SiftHub is positioned to deliver secure, private, access-controlled answers that trace back to the source. Using RAG technology and fine-tuned LLMs with industry-specific knowledge training, SiftHub allows companies to generate personalized responses with zero hallucinations. This guarantees increased transparency and reduced risk, inspiring absolute trust in using AI for all their needs.
With this, sales teams can focus on their core strengths of selling. SiftHub simplifies the usually time-consuming back-and-forth between sales and various other teams as a deal progresses. With its easy-to-use project management and seamless workflow automation capabilities, the platform helps streamline collaboration between teams as they complete infosec questionnaires, vendor assessment forms, RFPs, and RFIs.
Manisha Raisinghani, Founder of SiftHub, is a seasoned SaaS entrepreneur who earlier co-founded LogiNext, a leading logistics SaaS platform.
“GenAI is not just a technology, it’s a revolution in productivity. It unlocks the ability to solve a legacy problem in a modern way improving efficiency by 80%.” said Manisha Raisinghani. “By integrating GenAI with advanced workflow automation and collaborative capabilities, we are providing an end-to-end solution for our users. From the moment the first information request is received to the closure of each sale with satisfactory responses, SiftHub will remain a trusted partner for sales organisations.”
"Buyers have become smarter and engage sales later in the buying journey, with more advanced questions. As a result, the expectation from sales teams has changed - they need to know advanced product, technical, and legal information to get the win. Sales and presales teams lack the necessary tooling to handle this new selling environment. We are excited by SiftHub's vision to use AI to manage product knowledge so that sales can focus on relationships." added Pranay Desai, Managing Director, Matrix Partners India.
Sanjay Nath, Partner, Blume Ventures, shared, “SiftHub is Manisha’s second venture in the SaaS space. Armed with over a decade of entrepreneurial cross-border experience and an impressive track record, Manisha and her team are building a game-changing AI platform to transform the entire sales and presales process. We are excited to back the SiftHub team as they seek to build premium SaaS from India, for the world.”
About SiftHub:
Founded by Manisha Raisinghani, SiftHub is an AI platform that acts as a central hub to collate and sift through all your content scattered across multiple repositories and tools. Through accelerated knowledge discovery and automated response creation, SiftHub empowers your sales and pre-sales teams to improve win rates and close deals faster. Headquartered in the United States, SiftHub also has an R&D office in Mumbai, India.
About Matrix Partners India:
Founded in 2006, Matrix Partners India invests in companies targeting the consumer and enterprise market at the seed, early and early growth stages. The firm has invested in several enterprise technology companies such as MoEngage (Customer engagement platform), Toddle (Teaching & learning platform), SuperOps.ai (AI-powered PSA-RMM platform), Rocketlane (Customer onboarding platform), Murf AI (Synthetic speech technology), 100ms (Live video infrastructure) and Atomicwork (AI-first ITSM) amongst others. Other marquee investments include Dailyhunt, Five Star Business Finance, OfBusiness, Ola, Ola Electric, OneCard, Oxyzo, Razorpay, Country Delight, among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.
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