Main Highlights:
- Groove is an automated sales interaction platform based in San Francisco, California.
- In addition to discussions, emails, and assignments, Groove offers a comprehensive perspective of successful sales and account management operations.
- Several Groove’s capabilities have improved in the last year, including auto contact capture and the ability to recognize opportunities in real-time, and integration with Seismic and Sendoso.
- It’s possible to design campaigns with several steps and channels in Groove’s dashboard by using fields, variables, and other attributes.
Groove, an automated sales interaction platform, announced today the close of a $45 million Series B round headed by Viking Global Investors with participation from Capital One Ventures, Level Equity, Quest Venture Partners, and Uncork Capital. According to co-founder and CEO Chris Rothstein, acquiring these funds takes the company’s total funding to over $57 million, which will be used for product development and global workforce expansion.
According to Groove, the pandemic-driven transition to digital selling is hastening sales engagement and revenue processes. However, digital selling has exposed a weakness in some organizations’ customer relationship management (CRM) software: a low adoption rate. According to a recent Forrester survey, 57% of salespeople struggle to maintain excellent customer experiences owing to insufficient integration or accessibility of their CRM systems.
Rothstein, Alexander Kerschhofer, and Austin Wang launched the San Francisco, California-based firm in 2014. It provides solutions for documenting sales activities and promoting collaboration within enterprise environments. The platform connects with existing CRM software, capturing emails and calendar events to maintain account information and collecting data such as the amount of time spent on support calls vs. the frequency with which price inquiries are answered.
Users can utilize the Groove dashboard to create multistep, multichannel campaigns entirely customized via fields, variables, and attributes. It enables teams to cooperate on accounts and exchange high-performing techniques, movements, and content, while also allowing for the import of leads into flows and determining which flows are beneficial based on statistics.
Numerous businesses struggle with CRM systems. LinkedIn reports that a third of users spend between three and five hours each week interacting with CRM products. Additionally, CRM projects are anticipated to fail at a rate of between 18% and 69%.
“Our enterprise customers want to enable the modern seller while ensuring the highest levels of enterprise security and compliance,” Rothstein stated. He proceeded by saying that they are capturing a sizable portion of the enterprise market share from their competitors since their platform was created for the demands of large, sophisticated enterprises that utilize Salesforce as their system of record. Instead of asking sellers to work from a separate system, their company automates the process. This adaptability provides extraordinarily high user adoption rates, particularly among sellers in non-tech industries that are technologically averse.
Groove engaging the sales force
Successful sales and account management activities are described in Groove in detail, including conversations with customers, emails with customers, and tasks with customers. When used in conjunction with email and phone script templates, it can track the performance of these templates over time and discover the optimum days of the week and times of day to make phone calls. Additionally, it provides account-level interaction information that may be sorted according to the date the interaction occurred.
Groove has gained new features throughout the past year, including auto-contact collection, real-time opportunity recognition, and integration with Seismic and Sendoso. Salesforce contacts who have been copied on emails or meeting invitations are located using the auto-contact gathering tool, and the pipeline management and improved return on investment reporting features conduct real-time pipeline assessments and update CRMs.
In addition to Groove, Outreach, a provider of artificial intelligence-powered sales automation software, and Salesloft and People.ai are all competitors. On the other hand, Rothstein points out that the company’s yearly recurring income increased by 114 percent in the last year due to the addition of new customers such as Activision, iHeartMedia, New Relic, Uber, Google, Atlassian, and Capital One, among others.
