Outbound sales managers typically rely on high volumes of inquiries to find customers, but this means that their revenue is often proportional to the size of their team. To defeat Helps scale campaigns more easily with tools that automate them, identify potential prospects and use data to decide the right time to send pitches. The company today announced that it has raised $7.3 million in seed funding from Sequoia Capital India.
The new capital will be used for technology development and hiring, and the total amount of outplay will reach $9.3 million so far. Its previous funding was a $2 million increase from Sequoia Capital India’s surge announced in March after Outplay participated in the fourth group of the program.
Since its seed round, Outplay says it has quadrupled its revenue and now has customers in more than 50 countries, primarily serving B2B software companies.
Outplay was founded in 2019 by brothers Ram and Laksh Papineni. A referral marketing tool for app developers, both had previously launched.
Outplay was designed for the sales team that contacts prospects through multiple channels such as phone calls, email, SMS, LinkedIn and Twitter. It integrates channels into a single interface, so salespeople don’t need to switch between apps. Also automates outplay sequences, or marketing campaigns that include initial pitches sent through various channels and automated follow-up messages if replies are not received within a predetermined time.
The platform is meant to replace the process of cold-calling potential customers, which is time-consuming and difficult to scale, and enables salespeople to focus on the best prospects, helping them decide which channels to use and when to contact them.
Since its seed funding, Outplay has launched a slew of new tools and features, including a Chrome extension that lets salespeople add prospects from LinkedIn and Gmail, send emails, make calls, and perform other tasks without having to go to Outplay’s dashboard. . It also added integration with sales tools like Gong, Dynamics CRM, and Zapier (Outplay was already integrated with customer relationship management platforms Pipedrive, Salesforce, and HubSpot).
A major new feature is Magic Outbound Chat, a web chat box that is launched when a potential customer clicks on an email link. Salespeople are informed and context is provided about the prospect. Laxman told Nerdshala that most chat boxes are designed for inbound sales teams, and that Magic Outbound Chat has helped some of its teams grow their sales pipeline by as much as 300%.
Laxman said the onboarding process for Outplay takes only a few days and sales managers are provided with a playbook of successful visuals to help them get started.
Competitors to Outplay include Unicorn Outbound and Salesloft. Laxman said that in the mid-2000s, inbound sales processes and techniques began to evolve rapidly with increased adoption of SaaS, but outbound sales teams still relied on the same high-volume strategy they had been using for years. Were.
“The last outbound sales technical disruption occurred in 2011 when Outreach and Salesloft were founded. We truly respect what they have done for the industry, but the approach is not scalable and revenue is ultimately a measure of the size of the outbound sales team. The task becomes,” he said, adding that Outplay is changing the process by using data-driven signals. To help sales representatives connect with potential prospects in the right channel at the right time.
For example, dynamic sequencing of outplays automatically moves probabilities from one sequence to another with a higher probability of success. In one scenario, outplay can be configured to move a prospect who opens a sales rep’s email more than four times to a second sequence that focuses on people interested in a product. Laxman said some of his clients have seen second-order open rates as high as 80% with dynamic sequencing.
In a statement, Harshjit Sethi, Principal, Sequoia India, said, “The needs of outbound sales are evolving rapidly and reps now require personalized, automated and relevant tools to drive sales that Outplay is successfully enabling. Sales reps spend an average of four hours per day on outplay, demonstrating the effectiveness of a product with category-leading customer reviews.