Iconiq Leads $60 Million Round in People.ai

SAN FRANCISCOPeople.ai, creators of a Revenue Intelligence System for businesses, has raised a $60 million Series C funding round led by ICONIQ Capital with participation by Andreessen Horowitz, Lightspeed Venture Partners, GGV Capital and Y Combinator. Will Griffith, Partner at ICONIQ Capital, will join the People.ai board of directors.

The company also announced its newest product “The Wire,” a real-time feed of best next actions to provide customer-facing teams with AI-driven intelligence, task prioritization, and one-click execution.

People.ai’s The Wire is an AI solution that provides a new way to deliver actionable insights to customer-facing teams. It is built on top of People.ai’s Revenue Intelligence System, Intelligent Matching and PeopleGraph, simultaneously analyzing activity, contact and deal data from across the organization as well as the industry, to predict which sales, marketing and customer success behaviors will drive results. By applying intelligent news feed ranking and other AI technologies previously seen exclusively in consumer apps, The Wire provides sales, marketing, and customer success teams with a “to do list” of actionable insights in a real-time, easy-to-consume, fast-action feed to drive best next steps.

“Today’s announcement of our Series C funding represents a critical milestone in achieving our vision for the Future of Work,” said Oleg Rogynskyy, People.ai Founder and CEO. “We’ve already enabled customers to, for the first time, capture all of an organization’s critical business data, such as contacts and customer activity data, and deliver it directly to the CRM. This has significantly improved sales productivity and CRM data accuracy and liberated the enterprise from time-consuming manual data entry. Today, we’re taking People.ai to the next level with AI-driven intelligence that provides customer-facing teams with a simple, personalized set of actions based on current, historical and industry data that will help accelerate revenue. When you use The Wire, you’ll have your most productive day at work, every day.”

Since its founding in 2016, People.ai’s Revenue Intelligence System has trained its AI on 500 million sales activities, nearly 40 million contacts, $1 trillion in pipeline, and over $100 billion in closed/won deals. The company grew revenue 5X year-over-year in 2018 and now powers top-tier enterprises such as Red Hat, Lyft, Zoom, New Relic, Splunk, and more. With the funding announced today, the company will accelerate advancements in product innovation and continue its expansion to meet the needs of global enterprise customers, along with launching a partnership platform for top consulting firms and system integrators.

“We’re thrilled to partner with People.ai as they execute their vision to unleash the potential of AI to drive enterprise revenue. People.ai is well positioned in a highly strategic enterprise market, leveraging automation and AI to fundamentally change the way people work. People.ai’s product, powered by strong network effects, is delivering insights and productivity at the scale and quality we have not seen previously,” said Will Griffith, Partner at ICONIQ Capital. “We see an incredible opportunity to accelerate People.ai’s game-changing technology as they redefine the meaning of the Predictive Enterprise. People.ai is the Future of Work.”

“People.ai’s technology has already unlocked tremendous productivity in sales, marketing and customer success teams across multiple industries. Organizations are fundamentally changing the way they work, and they know the status quo of dirty CRM data and manual data entry is completely unacceptable,” said Peter Levine, General Partner at Andreessen Horowitz. “Enterprises can use these productivity gains to create massive differentiation and efficiencies with the right valuable insights. We’ve already seen People.ai deliver incredible growth since announcing our partnership last year, and we’re excited to expand it as they build what could be the final app for customer-facing teams.”