endgame, to enable software companies to convert customer comments into go-to-market strategies, announced Tuesday that it raised a total of $17 million in back-to-back seed and Series A funding rounds.
The $12.25 million Series A was led by Menlo Ventures, while the $5 million seed round was led by Upfront Ventures. Participating in the round are a group of investors including Todd and Rahul’s Fund, Liquid2 Ventures and Gensite CEO Nick Mehta.
Los Angeles-based Endgame was founded in 2020 and provides a self-service take on what is happening in a software test so that a sales team can prioritize accounts based on user behavior cues and a data scientist or engineer be able to act fast on them without having to. .
The company’s CEO, Alex Bilms, told Nerdshala that the concepts of product-based sales and product-based development have taken over software sales. Today’s customers sign up for the trial, and if they like it, they invite their friends to try it.
However, at a certain point, some selling pressure is required to close the deal. That’s where the endgame comes in: It shows who’s doing what, and what features are being used — data that’s typically opaque to sales and revenue teams.
Traditional customer relationship management systems are designed to be user-driven, meaning the sales rep is responsible for adding notes. This is easy if a representative only has a few accounts, but among the millions of users, Endgame analyzes the data and identifies which accounts are most likely to convert, which users are attached, what is a good customer. and how to take action with the right people.
Bilms said that Endgame isn’t competing against other companies, because of the in-house developers who are building a bunch of apps together in an effort to build a system that works for them.
“Most of this is resolved with doing it yourself,” he said. “I have built endgames several times at other companies using databases and other piece-miles so that I can mash data from multiple places and create subscriptive views for revenue teams. We compete with the data scientists and internal teams that stitch horizontal tools together.”
Endgame is pre-revenue and is already catering to a set of beta customers such as Figma, Loom, Airtable, Clubhouse, Mod, Retool and Algolia who are looking for a dedicated software platform to capture product-based value. are doing.
The customer relationship management market, both huge and rapidly growing at 35% annually, is expected to reach $114 billion by 2027, Bilms said. To meet demand, he intends to aggressively use the new funds to continue recruiting. He has tripled the team size to nine in the past few months, and expects to double that in the coming year. In addition, the fund will go towards R&D and further define the product-based sales landscape.
Growth over the next year will be customer-centric as Endgame works to make it as accessible as possible for people to get into the hands of the right customers and begin product-based motions.
“Our efforts are product-focused,” Bilms said. “We’ve seen more demand than we could possibly hope to fill, given that the problem is so real for so many people.”
As part of the investment, Upfront Ventures partner Kara Nortman and Menlo Ventures partner Naomi Ionita will join Endgame’s board of directors. Sandhya Hegde, partner at Unusual Ventures, which also participated in both rounds, joined as a board observer to form a women’s investor board.
When Endgame was raising its seed fund, it wanted to work with Norman, who has expertise in applying consumer concepts to the enterprise, Bilms said. When it came to the Series A, the Bilms said she felt Ionita was the perfect partner because of the Bilms’ similar background and expertise in teaching salespeople how to engage.
Ionita told Nerdshala that she learned about Endgame from Nortman, with whom she has invested in other startups. The company understands the pain point and is also providing some self-service which gives the “why and how”.
“This intelligence doesn’t exist, and I know it because I was living it — building in-house or watching companies fly blind,” she said. “Alex just gets it, and I see that endgame as systems of record and intelligence to bridge self-service. They will be the ultimate bridge that needs to exist between product teams and product-facing sales reps, whose accounts to be addressed and why.