Zomentum, an end-to-end sales acceleration platform for IT channel partners, has raised $13 million in Series A funding round from Elevation Capital, Accel, and Greenoaks Capital. Eight Roads Ventures also participated in the funding round.
The funding will be used to further build out its product and for geographic expansions. The San Francisco- and Bengaluru-based startup has recently raised $4.1 million in seed funding round from Accel and SAIF Partners.
“We have grown upwards of 30% month-on-month since the last funding round,” said Shruti Ghatge, co-founder and CEO at Zomentum. “This is the primary reason why the funding has happened, because growth has been good and sales have largely been pull driven.”
She added that the platform is already driving more than $100 million worth of IT transactions. While a large majority of Zomentum’s customers are largely in the US, it said that it is seeing growing traction from markets such as the UK, parts of Europe, Australia and New Zealand.
“Today we are a sales platform for new customers, but what we will be focusing on is how these managed service providers can make more money from their existing customers as well,” added Ghatge. “One of the advantages we have today that we didn’t have six months back is data, and a lot of data science is going to come into play as well going forward.”
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