Mountain View, California, July 31, 2024 (GLOBE NEWSWIRE) -- B2B sales is a fiercely competitive environment, often hindered by time-consuming administrative tasks that account executives spend over 65% of their week on.. While many sales teams have tried to optimize manual processes with generic transcription or conversational intelligence tools, Sybill has raised $11M to scale its AI-first assistant that can complete entire tasks autonomously. This ultimately helps B2B teams spend less time in their CRM and more time closing deals.
Sybill’s US$11M oversubscribed Series A round was led by Greycroft with participation from existing investors Neotribe Ventures, Powerhouse Ventures, and Uncorrelated Ventures. With this round, the company has now raised a total of US$14.5M.
Sybill.ai founders: (L to R) Nishit Asnani, Mehak Aggarwal, Gorish Aggarwal and Soumyarka Mondal
The B2B sales landscape has changed dramatically. Decision-makers for buying B2B solutions are inundated with information, making traditional sales playbooks obsolete. Personalization is now paramount but requires significant manual work, with sellers spending over two-thrids of their timeon these administrative activities. AI was supposed to change the way that sales teams function, but most solutions have fallen short. Sybill aims to revolutionize this with AI co-pilots that do end-to-end complete units of work for the sales reps.
The company’s AI assistant blends conversational and behavioral AI to autonomously complete the endless cascade of manual tasks involved in B2B sales. Its capabilities include writing accurate and comprehensive call summaries, cloning the seller’s voice to draft relevant follow-ups, process-aware CRM updates, summarizing information around buyer intent, and sharing information with GTM and product teams for unparalleled visibility and forecasting. The result is a truly useful AI assistant designed to turn every account executive into a top-performing seller by arming them with the data and insight needed to build genuine relationships and create delightful buying experiences.
Sybill.ai offers end-to-end deal support for sales reps
"When a salesperson is spending most of their time in their CRM rather than talking to customers, you know that something needs to change," said Sybill CEO and co-founder, Gorish Aggarwal. "The benefits of AI have not fully percolated to B2B sales yet, and we are changing that. In 2024, AI isn't just for programmers and marketers—it's empowering sellers to focus on prospects, close deals faster, and achieve higher win rates."
At a time when LLM wrappers are exploding in popularity, Sybill's origin predates ChatGPT, born from deep AI expertise. Gorish, a former Stanford lecturer, recognized the challenge of managing remote classes effectively. Realizing B2B sellers faced similar issues with customer calls, he teamed up with Nishit Asnani, Soumyarka Mondal, and Mehak Aggarwal - AI experts from top research labs at Stanford, UC San Diego, and Harvard. After two years of rigorous research, including interviews with 600 sales reps, they evolved Sybill into a comprehensive sales assistant platform in 2022.
The team’s technical background and empathy for sales reps have given Sybill a strong competitive advantage over traditional conversational intelligence tools. Its holistic, context-aware approach analyzes buyer interactions across the entire deal cycle, not just individual calls. As a result, Sybill’s deal summaries and auto-generated follow-up emails are more accurate and comprehensive than its competition. "We had eight months of not having found something we liked, trying different things, and we finally found what solved our real problems well. I'm super happy about it" commented Sybill customer Suresh Matthew, CEO of Sedai.
Over the last 18 months, Sybill grew revenue 15X, tripled headcount, serves over 500 customers, and laid the groundwork to redefine how sales reps work. Reps are already saving over 2 hours in manual work each day with Sybill. Notably, the product’s growth so far has been product-led, with over 60% of new revenue coming from customer referrals, a testament to the team’s focus on building sales rep-friendly tools.
"Sybill's AI software is transforming B2B sales by directly empowering sales reps and managers with tools that can dramatically enhance their productivity and effectiveness," said Mark Terbeek, Partner at Greycroft. "Unlike other sales technologies, Sybill’s AI assistant provides tangible benefits to the sellers themselves, helping them close deals faster and more efficiently. Because sellers love using Sybill, we believe Sybill will become a foundational application for all go-to-market professionals.”
“We are thrilled to double down on this accomplished founding team, namely Gorish, Nishit, Soumyarka, and Mehak. We feel Sybill will revolutionize the role of the sales representative” said Sri Peddu, Partner at Powerhouse Ventures.
Sybill’s existing capabilities are just the beginning. With the fresh funding, Sybill aims to expand the functionality of its AI assistant to automate more administrative tasks and provide deeper buyer insights. Ultimately, the team’s mission is to bring accurate, trusted frontier AI models to sales to transform today’s sellers into tomorrow’s top performers.
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About Greycroft
Greycroft is a multistage venture capital firm that partners with entrepreneurs who are striving to build category-defining companies across intelligent consumer and enterprise software applications, AI infrastructure, sustainability, and consumer products. Founded in 2006, Greycroft has raised over $3 billion in capital and has made over 400 investments since inception. The firm has 50 employees and offices in Los Angeles, New York, and San Francisco. For more information, please visit www.greycroft.com.
About Powerhouse Ventures
Powerhouse Ventures (PV) is a Singapore-based early-stage Venture Capital firm with an investment focus on startups emerging from India and the United States. PV supports early-stage companies in high-growth sectors where technology is the driver. Currently, PV manages an active portfolio of 40+ companies spread across India, the United States, and Singapore and includes category-defining companies such as Whatfix, Slintel, Medibuddy, Quizizz, DailyRounds/Marrow, Sybill, etc.
