Press Release (ePRNews.com) - Austin, Texas - Oct 17, 2016 - Nexd today announced seed funding as well as beta availability of its artificial intelligence (AI) and analytics platform, designed to help B2B organizations measure, understand and take action to increase close rates, more effectively forecast sales pipelines and improve overall sales efficiency.
The company is addressing one of today’s biggest sales management challenges, an action gap, whereby teams frequently miss opportunities to engage and win prospects due to fragmented information spread across thousands of disparate enterprise and SaaS applications and tools.
“Nexd is taking the lead in a market that is ripe for a transformation. The team has the passion and expertise and is on to something, something that could be very big.
Nexd taps the power of big data, machine learning and predictive analytics to analyze every touch point related to the sales process—including millions of data points from apps and tools outside a company’s CRM system—ultimately determining patterns of success as well as where breakdowns occur. The result is deeper intelligence, increased predictability and improved execution across the sales organization.
“When we embarked down this path we saw an incredible opportunity to use analytics and artificial intelligence to make people more effective at work,” said James Davison, Co-Founder at Nexd. “While we’re initially focused on sales, due to its huge impact on the business, we envision the core platform with its guidance and recommendations capabilities will ultimately provide value to many other areas across an organization.”
Built on the open source search engine, Elasticsearch, Nexd is one of the first sales effectiveness tools to provide real value for both sales management and sales representatives. The platform integrates directly with existing CRM and sales applications, extracting greater value from the investments businesses have already made.
“Big data and machine learning tools have tremendous power but have yet to reach their true potential and provide value to many industries due to highly technical implementations that require an army of consultants or internal teams of data scientists,” said Dan Greff, co-founder of Nexd. “Our focus is on business value for business professionals. So we’ve created a platform that breaks down data points accrued throughout the sales process into understandable pieces and delivers the information and recommendations in a way that they can immediately be put into action.”
As part of today’s announcement, the company also announced it has secured a $750,000 seed round from blue chip angel and seed investors, all of who have had individual success in the software industry. The new capital will allow Nexd to execute on a successful beta launch and recruit a top-notch team of developers with a passion for building applications that finally fulfill the promise of Big Data and A.I.
“Nexd is taking the lead in a market that is ripe for a transformation,” said Mike Turner, a seed investor and leader of Austin companies Tivoli Systems and Waveset Technologies. “The team has the passion and expertise and is on to something, something that could be very big. With the new funding and support, they are in a great position to accelerate growth. The next step is identifying beta customers looking to improve B2B sales effectiveness as well as the next batch of rock star developers that want to play a role in using big data and machine learning to change the world.”
Founded in Austin, Texas, Nexd provides Sales AI to B2B companies to measure, understand, and take action to improve sales efficiency and execution. For more information, visit http://www.nexd.io.