- Kronologic, which is building a “calendar monetization” platform, said today that it has acquired an additional $20 million in initial investment from Signal Peak Ventures, Silverton Partners, Next Coast Ventures, and Geekdom Fund
- As the first and major point of contact with potential buyers, Kronologic’s platform automatically distributes calendar invites on their behalf
- Kronologic was able to more than double the income of a 40-person sales force in six months
- It employs the Calendar 1st approach, which is supported by AI-automation, to fill calendars with revenue-focused meetings
Kronologic, which is building a “calendar monetization” platform, said today that it has acquired an additional $20 million in initial investment from Signal Peak Ventures, Silverton Partners, Next Coast Ventures, and Geekdom Fund. According to Trey Allison, co-founder, and CEO, the money will be used to promote client growth and improve the platform’s features and AI capabilities.
The “last-mile problem” in the age of digital sales refers to a failure to turn leads into sales appointments. According to one poll, it takes an average of 18 calls to connect with a buyer. According to another statistic, 60% of buyers say no four times before committing to make a purchase.
Kronologic intends to address this issue with a subscription platform that offers users and business leads personalized meeting scheduling choices. It connects with Microsoft, Google, and Salesforce technologies, allowing it to immediately measure the return on investment of each meeting and charge for meetings that are successfully booked.
Allison claims that Kronologic was motivated by work he and Ben Parker did some years ago. Allison and Parker built the technological foundation for what became Kronologic in order to have an influence on the business unit they were assisting.
“2021 has shown no indications of slowing down; in fact, there has been an increase in the demand for automating virtual meetings,” Allison added. “In one case, Kronologic was able to more than double the income of a 40-person sales force in six months.”
Kronologic’s AI-powered scheduling
As the first and major point of contact with potential buyers, Kronologic’s platform automatically distributes calendar invites on their behalf. According to Allison, this may increase income for organizations by decreasing expenses and saving time, as well as allowing teams to deploy their resources more strategically.
Allison stated, “We have a heat map called ‘Meetings Most Wanted’ that emphasizes our top use cases deployed by our clients today.” “These are graded by their departmental in-market success, including customer growth and success teams, new business sales and marketing teams, and channel sales teams.”
Kronologic is the first Calendar Monetization Platform in the world. It eliminates the need for sales to chase down leads by proactively arranging the most valuable, revenue-generating appointments for them. Instead of pitching on a cold call, your staff can now focus on delivering value during planned meetings. Kronologic employs the Calendar 1st approach, which is supported by AI-automation, to fill calendars with revenue-focused meetings. Allow Kronologic to arrange the meeting so that your staff may focus their time establishing relationships and pipelines.
Customers using Kronologic can select from calendar templates for topics such as follow-up events. When new meetings emerge on the calendar of revenue teams, they do not need to log into an app. On the backend, an analytics tool displays revenue projections, ostensibly assisting in increasing the amount of high-value meetings scheduled.
According to Kronologic, it is in the process of training A models to understand customers’ level of intent to accept a meeting from meeting interaction datasets, tracking interactions such as accepts, declines, alternate time proposed, out of office replies, written text responses, and unsubscribes. The business also claims to be working on natural language technologies to optimize talks around meeting scheduling.
“Because there are frequently numerous buyers and sellers in a single contract, this money will better allow indirect and channel sales,” Allison added. “Kronologic is seen as a broker of calendar availability throughout their customer base, and they intend to extend this technology and its benefits to the broader public later this year.”
Kronologic now has more than 60 customers, including Hewlett Packard Enterprise, Caterpillar, Dell Technologies, and Lenovo, with over 100 contracts signed. The Austin, Texas-based firm now employs 40 employees and intends to employ more than 60 by the end of the year.