Company’s first institutional spherical closed over Zoom
SYRACUSE, N.Y.–(BUSINESS WIRE)–May 6, 2020–
StorySlab, a digital gross sales enablement know-how firm primarily based in Syracuse, NY, introduced at the moment it has raised $2.7 million in funding led by Armory Square Ventures, together with participation from RiverPark Ventures and TIA Ventures. Martin Babinec, founding father of TriNet and nonprofit group Upstate Venture Connect; and Doug Pinckney, one of many founders of the advertising companies company Pinckney Hugo additionally joined the spherical as traders.
StorySlab offers gross sales enablement instruments for gross sales representatives promoting to prospects each remotely and face-to-face. Its platform instruments embody built-in internet conferencing integrations, information reporting, offline storage of presentation supplies in addition to file sharing capabilities.
“Our platform makes it easy to have a flexible and seamless conversation with the client,” defined Hans Fuller, founder and CEO of StorySlab. “Whether in person or over the web, a salesperson can become more responsive and consultative, keeping the conversation active so the sales process is seamless.” StorySlab serves over 100 purchasers in a variety of industries, together with chemical compounds, equipment, plastics, electrical parts, and shopper merchandise. With new funding, StorySlab will broaden throughout new industries, scale its advertising staff and develop its operations.
“We were impressed with StorySlab’s vision and the Company’s strong product/market fit,” defined Somak Chattopadhyay, founder and managing accomplice of Armory Square Ventures. Chattopadhyay joins StorySlab’s board of administrators as a part of this spherical. “Our team has two decades of experience investing in B2B SaaS companies and supporting their growth. We believe StorySlab has the potential to be a market leader in the sales enablement category.”
The funding marks StorySlab’s first institutional funding spherical. “We originally started the business to solve a very specific set of problems for our clients,” defined Fuller. “Not relying on external investment really kept us focused on solutions that customers were willing to pay for and has resulted in a very refined product and a clear value proposition. Now we’re at the point where taking investment lets us build the technologies and staff that will help us scale.”
StorySlab has additionally had a robust observe document recruiting expertise to Central New York. “We recruit people from all over the country. Our team has gone to school elsewhere and lived elsewhere. We are finding, at this stage, that people originally from regions like Upstate New York want to return,” defined Fuller.
A big a part of the fundraising and pitch course of for StorySlab was performed remotely over Zoom although early conversations with traders began in late February, weeks earlier than the pandemic flared up.
“We raised the round partly despite Covid and partly because of it,” says Fuller, “Our platform enables sales reps to stay productive whether in person or remote, and we really had to embrace remote collaboration ourselves to get this deal done.”
“In times of uncertainty, investors tend to be focused on capital efficient businesses with strong unit economics and a visible path to profitability,” Fuller added. “StorySlab was profitable from day one and has strong customer retention. We look forward to growing far more quickly with the fresh infusion of capital.”
StorySlab has cracked the code on the only most essential issue for equipping exterior reps with know-how: Deploying instruments that reps truly use. The many Fortune 500 Companies that select StorySlab take pleasure in extraordinarily excessive adoption and thoughtfully designed tech that makes their reps quantifiably extra environment friendly and efficient. Headquartered in Syracuse, NY and serving purchasers all around the world, the StorySlab platform consists of cell and cloud applied sciences that allow easy face-to-face and screen-to-screen gross sales dialog. For extra, go to www.StorySlab.com.
See our video at: https://web.storyslab.com/videos/how-reps-feel/.
About Armory Square Ventures
Armory Square Ventures (ASV) is a seed and early-stage enterprise capital agency primarily based in Upstate New York and New York City. The agency invests in software program and technology-enabled companies corporations in rising entrepreneurial ecosystems usually neglected by different traders. ASV has places of work in Syracuse and New York City. The fund’s investments embody ACV Auctions, Agronomic Technology Corporation (acquired by Yara), Bentobox CMS, Clerio Vision, Good Uncle (acquired by Aramark), Jorsek, Squarefoot, Vengo Labs and Vizbee. For extra, go to www.Armorysv.com.
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