Accord Raises $1M Seed Funding - B2B Sales Platform

Accord Secures Over $1 Million in Seed Funding Extension

Accord has expanded its initial $6 million seed round, successfully raising more than $1 million from a collective of CEOs and sales executives representing companies utilizing their platform.

Platform Launch and Founding

Founded in 2019 by Ross and Ryan Rich, alongside Wayne Pan, the San Francisco-based company aims to revolutionize business-to-business sales. CEO Ross Rich describes the platform as a solution designed to “improve the experience of buying and selling.”

The complexity of modern sales processes, often involving up to 14 stakeholders on the buyer’s side alone, frequently leads to challenges in achieving consensus. Accord addresses this by streamlining collaboration.

How Accord Facilitates Sales Alignment

Accord’s application provides a centralized system for shared next steps and key milestones. This ensures that all relevant parties, both buyers and sellers, are engaged at the appropriate stages of the sales cycle.

Building Relationships is central to Accord’s approach. Ross Rich emphasizes that the platform benefits not only sales and management teams but also the buyer, fostering stronger, more collaborative relationships.

The shift away from in-person meetings, accelerated by the COVID-19 pandemic, has necessitated adaptation. Buyers now expect the same level of immediacy and convenience found in business-to-consumer transactions.

Target Market and Growth

Initially focused on technology startups, Accord is now gaining traction in other sectors, including medical device companies. The platform fills a critical need where existing software solutions fail to effectively connect external teams.

Over the last half-year, Accord has doubled its workforce and has received acquisition proposals from several organizations. However, the company’s leadership, after only a year and a half of operation, is currently not considering these offers.

Ross Rich believes the company has significant untapped potential and is committed to pursuing independent growth.

Strategic Funding Approach

For this funding round, Accord deliberately sought investment from non-institutional sources. This strategy was chosen to avoid expanding the board of directors.

Instead, the company focused on securing support from CEOs and sales leaders already experiencing the benefits of the platform. Mike Murchison, co-founder and CEO of Ada Support, highlighted that Ada’s B2B growth significantly increased due to a focus on partnership, facilitated by Accord’s collaborative buying process.

Investor Perspectives

Stephanie Schatz, an advisor to Accord, invested in the round citing Ross Rich’s qualities as a founder. She believes he possesses the necessary “intelligence, drive, passion, vision and charisma” to build a lasting company.

Schatz also noted that Accord empowers CEOs and sales leaders to create high-performing teams centered around customer needs.

Future Plans

The newly acquired funding will be allocated to the general launch of the platform and further team expansion, bringing the total headcount to 16. Rich anticipates a Series A funding round in the near future.