Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

AI platform People.ai raises $30m led by Andreessen Horowitz

Artificial intelligence (AI) platform for enterprise revenue People.ai announced a $30M Series B funding led by Andreessen Horowitz on Tuesday.

People.ai Founder and CEO Oleg Rogynskyy (PRNewsfoto/People.ai)

The funding will be used to fuel People.ai’s data science developments, commercial expansion, and customer acquisition.

“We are excited to have Andreessen Horowitz lead our Series B round to help us expand our business as we help more enterprise companies accelerate top-line growth and grow their market reach”, said People.ai Founder and CEO Oleg Rogynskyy.

“In this digital world, businesses have to differentiate themselves quickly. People.ai helps enterprise businesses unleash the power of AI by delivering critical intelligence and automating time-intensive tasks.”

The People.ai platform analyses companies’ data, understands what sales activities are likely to be successful, then recommends the best options. It analyses sales, marketing, and customer success activity data across email, calendar, phone, and other systems to automate over 90% of CRM data entry and identifies the right buying group for every deal.

Series A investors Lightspeed Venture Partners (lead), GGV Capital, and Y Combinator also participated in this funding round.

“At Lightspeed, we’ve been fortunate to have partnered with some of the fastest growing enterprise companies of the last decade, and the common ingredient has been great sales and marketing execution”, said Nakul Mandan, Partner at Lightspeed Venture.

“People.ai brings the power of data and intelligence to the sales and marketing team, to supercharge their execution, and it’s not surprising why some of the largest and the best enterprise go-to-market teams are adopting it rapidly.”

Commenting on the funding, Andreessen Horowitz said he believed People.ai will become one of the foundational companies of next-generation SaaS.

“The unique combination of SaaS and machine learning finally enables organizations to automate data collection and apply that data to improving productivity and efficiency across sales, customer service, and marketing”, he said.

“We’ve been impressed with the traction that the team has made with some of the largest organizations, and the combination of business acumen and technical capability of the leadership team. We’re thrilled to partner with them moving forward!”.

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