1up: How Memes Drive a Third of Sales Leads | Sales Automation

From Cybersecurity to Sales Enablement: The Story of 1up

George Avetisov, formerly the founder and CEO of the cybersecurity firm HYPR, observed a recurring challenge within his sales organization. Despite the skill of his sales representatives, they frequently required assistance from other departments to address customer inquiries and complete detailed technical forms.

“Sales teams often lack immediate answers to complex questions,” Avetisov explained to TechCrunch. “They consistently needed to consult product specialists or sales engineers. This process was time-consuming, yet these representatives were highly capable; the core issue was the absence of readily available, automated knowledge access.”

Identifying a New Opportunity

Avetisov (shown in the center of the image above) determined this issue would be his next entrepreneurial focus. He departed from HYPR in 2021, taking a break to complete the video game Elden Ring before fully committing to a new venture. He subsequently launched 1up in 2022.

1up is an AI-powered knowledge automation platform specifically designed for sales teams. It consolidates information from various internal data sources and databases. Sales professionals utilize 1up to quickly locate answers to product-related or technical questions, prepare proposals, and efficiently complete technical questionnaires.

Rapid Growth and an Unconventional Marketing Strategy

The company officially launched in January 2024 and has since acquired nearly 100 clients, ranging from startups to large enterprises like WalkMe and Deliveroo. A significant portion of this customer acquisition has been driven by a unique marketing approach: the use of memes.

“We maintain a substantial collection of sales-related memes, generating millions of impressions on LinkedIn,” Avetisov stated. “A considerable number of our leads – approximately one in three – originate from these memes. It’s an unconventional tactic, but it’s proving effective.”

Securing $5 Million in Funding

1up has recently announced a $5 million funding round, spearheaded by Upfront Ventures, with participation from RRE Ventures and 8-Bit Capital. Upfront general partner Kobie Fuller will join the company’s board as part of the investment.

Fuller shared with TechCrunch that he received an unsolicited email from Avetisov shortly after a portfolio company suggested 1up as a potential investment aligned with Fuller’s thesis on the transformative impact of AI on enterprise knowledge management. He noted a strong alignment in their perspectives during their discussions.

A Founder-Led Vision

“Our investment decisions are heavily influenced by the founder,” Fuller explained. “George, as a second-time founder, directly experienced the problem and its associated challenges. He possesses a remarkable ability to discuss the intricacies of the business at any level of detail. His dedication is evident – he even has a 1up tattoo on his wrist, demonstrating his unwavering commitment.”

Navigating a Competitive Landscape

The market for AI-powered sales tools has expanded rapidly since the release of ChatGPT in 2022, particularly in areas like lead generation and client outreach. Interest in enterprise knowledge centers, some of which predate 2022, has also increased.

However, Avetisov remains confident. He believes 1up’s focus differentiates it from AI sales lead generators, and that it addresses a distinct need. He argues that companies don’t necessarily require comprehensive knowledge centers, but benefit from a targeted solution.

A Focused Approach to Knowledge Automation

“Enterprises typically don’t prioritize knowledge management as a critical budget item,” Avetisov said. “Our belief is that for knowledge automation to achieve significant scale – becoming a billion-dollar industry – it must be highly focused on specific user personas and departments.”

Future Plans for 1up

With the recent funding secured, 1up’s immediate priorities include expanding the sales team and implementing new feature enhancements, details of which Avetisov is not yet disclosing.

“Sales teams face considerable challenges,” Avetisov concluded. “They have one of the most demanding roles within a company, and their existing tools are often inadequate. While they have numerous tools for prospecting and CRM, knowledge management has been largely overlooked. That’s where we’re concentrating our efforts.”

Note: This article has been updated to clarify Jonathan Abrams’ investment, noting his participation through his fund, 8-Bit Capital.