Bangalore-based Vymo, which builds apps to automate sales and make it more effective, has raised $5 million in a series A round of funding from Sequoia India.
The startup will use the investment to deepen its research and development (R&D) initiatives and expand its presence in international markets in regions such as the Middle East and Asia Pacific. This is the company’s first round of fundraising.
Vymo was founded in 2013 by former Google programmer Venkat Malladi and former McKinsey and Goldman Sachs executive Yamini Bhat. The company helps organisations improve their sales performance by converting manual operations to rule-based algorithms.
“Sales tools typically add effort for the sales representative and give value to the sales manager. Vymo’s solution requires low or minimal data input and enables the sales representative to be more productive. Vymo uses data from 25,000-plus sales representatives to map out skills and provide real-time recommendations, helping its users choose their most efficient course of action,” said Yamini Bhat, co-founder and chief executive of Vymo, in a statement.