Defy Partners Invests $3M in Aircover

Aircover Secures $3 Million Seed Funding for Sales Intelligence Platform

Aircover has successfully completed a $3 million seed funding round to further the development of its innovative real-time sales intelligence platform.

Investment Details

Defy Partners spearheaded the investment, with significant participation from Firebolt Ventures, Flex Capital, Ridge Ventures, and a collective of angel investors.

Platform Overview

Based in the Bay Area, Aircover is focused on equipping sales teams with actionable insights during customer interactions. The company’s conversational AI software integrates seamlessly with Zoom.

This integration automates key aspects of the sales process, ultimately fostering more productive and impactful conversations.

Zoom's Perspective

Brendan Ittelson, CTO of Zoom, commented via email that the launch of the Zoom SDK aimed to empower developers. He stated the goal was to facilitate the creation of valuable experiences for customers and expand the integration ecosystem.

“Aircover’s approach to embedding sales intelligence directly within meetings, guiding sales teams throughout the entire sales cycle, aligns perfectly with our vision for a more expansive platform,” Ittelson explained.

Founding Team

Aircover was founded by Andrew Levy, Alex Young, and David Levy, brother of Andrew. The team previously collaborated at Apteligent, a company co-founded and led by Andrew Levy, which was acquired by VMware in 2017.

Addressing Sales Process Challenges

Levy noted that traditional solutions to sales process inefficiencies often centered around increased training for sales personnel. However, he observed that this information frequently became outdated by the time training was complete.

To overcome this, Aircover was designed as a software solution that operates alongside video conferencing platforms.

Real-Time Analysis and Support

The platform provides real-time transcription of conversations and then analyzes the content. This allows it to deliver relevant information to the salesperson at the precise moment it’s needed, based on customer concerns and inquiries.

Consequently, the need to involve additional sales experts or schedule follow-up calls for answers is minimized.

A Virtual Sales Assistant

“We are focused on anticipating knowledge needs and delivering that information at critical moments, thereby amplifying the effectiveness of subject matter experts,” Andrew Levy shared with TechCrunch. “It functions much like a dedicated sales assistant, readily addressing any issue.”

Competitive Landscape

Levy positions Aircover alongside other sales solutions such as Chorus.ai (acquired by ZoomInfo) and Gong. However, he believes his company is uniquely positioned within the realm of real-time meeting experiences.

While other tools typically record meetings for post-call review, Aircover aims to influence the outcome of the sale as it unfolds.

“Our focus is on impacting the sale while it’s happening, something that retrospective analysis simply cannot achieve,” Levy added.

Future Development

The newly acquired funding will be allocated to product development. Levy plans to expand his engineering team significantly by the end of the month.

Technological Complexity and Partnership

Levy described the challenge Aircover is tackling as “a substantial and complex problem requiring sophisticated technology due to its real-time nature.” This led to a strategic partnership with Bob Rosin, partner at Defy Partners, who will now serve on Aircover’s board of directors.

Defy Partners' Insight

Rosin joined Defy Partners in 2020, bringing experience from leadership roles at Stripe, LinkedIn, and Skype. He emphasized the need for tools that assist sales and customer teams in the moment.

“While retrospective tools have their value, teams are increasingly seeking live support directly within customer interactions,” Rosin stated.

“Aircover has developed a comprehensive solution to address this demand,” he concluded.