We're absolutely thrilled to announce a massive leap forward for Momentum—our $13M Series A funding round led by FirstMark Capital, along with Stage 2 Capital. Our seed investors, Basis Set Ventures and Leadout Capital, also participated and continue to be great supporters of what we’re building.
Now, more than ever, revenue leaders are being asked to streamline their operations and find ways to grow revenue efficiently. I hear it every day in my conversations with CROs and VPs of RevOps. A few years ago, the focus was on revenue at all costs and increasing the number of logos anyway possible, but those days are gone. Today, leaders are tasked with increasing revenue per rep, decreasing churn–all while having the most up-to-date insights into pipeline and forecasts.
It’s a tall order for any fast-growing organization to keep up with, and luckily, with AI and automation, we–as an industry–have the chance to keep up with this new normal.
Building A Platform to Drive AI-Powered Customer Intelligence
When we had the idea for Momentum in 2020, it was the middle of the pandemic and we were 3 founders exploring ideas literally from our kitchen tables (Ashley and me in SF; Moiz in Vancouver). Our lives had already been intertwined for a while. We all met at Sauce Labs about a decade earlier; Ashley and I got married after meeting there; I started Blameless in 2018 and hired Moiz as our founding engineer.
The idea for Momentum – to bring workflow automation to revenue teams, with Slack as an interface for our product – felt incredibly relevant and exciting, given the digital selling revolution already underway and now accelerated by the pandemic. We set to work building what is now Momentum’s powerful underlying tech and raised a seed round in 2021 to go to market with our verticalized no-code platform for sales teams (think Zapier, but just for sales).
In 2022, we felt the tides shifting just like everyone else did; suddenly, budgets got tighter, deals were more scrutinized, and there seemed to be turnover within the teams of our prospects and customers every single week. Luckily for us, this massive shift opened the door for us to think about what could be missing in our platform, and right before the explosion of Chat-GPT, we started building AI into Momentum, summarizing recorded calls and saving those as notes automatically in Salesforce.
From there, Momentum started to really take off, and we’ve been feeling, ahem, the Momentum ever since, growing 400% last year alone, and bringing on an impressive customer base, including 1Password, Ramp, zScaler, Postman, Alation, Demandbase, Owner.com and many more.
Today, Momentum enables companies to automatically capture customer intelligence via call recordings, emails, and Slack and then turn that data into actionable GTM insights. It seamlessly integrates into the tech stack our customers already use today by extracting raw data from tools like Gong, Clari, Zoom, Google Meet, and more. Our customers use Momentum daily to predict and prevent customer churn, alert revenue leaders of forecast risk, streamline processes, and automate routine tasks. And because it operates largely behind the scenes, delivering the right insights to Salesfoce and Slack, it’s easy for RevOps to roll out without requiring rep onboarding.
What’s next?
We believe the best source of customer data lives inside the conversations we’re having daily with prospects and customers. Companies should have a way to easily and systematically extract and synthesize data at scale, then push it automatically to the right systems of record and to the right people. This should be done easily, without needing to hire expensive consultants or tying up your already over-worked RevOps team. Momentum is the platform to do this for companies of all sizes.
With this funding, we’ll expand our engineering teams so we can quickly support more platforms (i.e. Hubspot), while building out more of the AI and automation capabilities that our customers are guiding us towards. We’re excited to start investing in marketing, and to bring on a sales leader that can grow and scale our GTM team.
Also, as part of this new round of funding, I’m thrilled to welcome Amish Jani, FirstMark Co-Founder and Managing Partner, and Mandy Cole, Partner at Stage 2, to our board. Both will be great resources for us as we enter this next phase of growth. Amish has led early investments in industry-defining companies, including Shopify, Frame.io, Pendo, and a couple of our customers (Demandbase, Guru, HopSkipDrive), and he knows what it’s going to take for us to reach the goals we’ve set. Mandy is an operator turned investor with experience as a sales leader at LivingSocial, Zenefits, and others. Her operator experience and connections will be invaluable to building for and reaching other GTM leaders like her.
I’m proud of our work and the validation that this funding round represents. I also believe we’ve just uncovered the tip of what’s possible. I’m most excited about what’s next as we realize our vision of making revenue teams smarter and more efficient. If you’re interested in what the future of customer intelligence looks like, then reach out for a demo or try it yourself - we’d love to hear from you.