With the ongoing pandemic, businesses are actively seeking advantages in driving sales. Possessing accurate information regarding customers with the highest potential for conversion can be incredibly valuable in the current climate. Slintel, a developing company specializing in sales intelligence solutions, recently announced the completion of a $4.2 million seed funding round.

Accel spearheaded the investment, with participation from Sequoia Capital India and existing investor Stellaris Venture Partners. The company reports total funding now reaches $5.7 million, including a prior pre-seed round secured last year.

Deepak Anchala, the founder and CEO of the company, notes that despite efforts by sales and marketing teams to reach a wide audience, their communications with potential customers often yield limited results. Having personally encountered this challenge during his time at Eightfold and Tracxn, Anchala believed that improved data access could offer a solution. This conviction led to the creation of Slintel, designed to deliver the sales data he found lacking in his previous roles.

“Our primary focus is assisting clients in overcoming this data deficiency by pinpointing individuals demonstrating strong purchase intent. We empower sales and marketing teams to identify prospects most likely to acquire their product or service, and to determine those poised to make a purchase now, rather than in the future,” Anchala stated.

The company achieves this by analyzing indicators that may not be immediately apparent, yet provide sales teams with crucial insights into companies and their imminent buying potential. Anchala explains that every organization generates a digital trace. This can include information sourced from SEC filings, yearly reports, job postings, and similar sources.

“In the current digital landscape, companies leave a substantial amount of publicly available data when utilizing specific products. Our algorithms systematically map this information for approximately 15 million companies, identifying the products they employ from various sources – and we monitor these trends on a weekly basis,” he explained.

Currently employing 45 individuals, the company anticipates expanding its workforce to 90 by the close of 2021. As he develops the company, and as a founder who is an immigrant, Anchala is committed to fostering a diverse and inclusive work environment.

“I believe that diversity is a key factor in the success of modern companies. We have a globally distributed team, with employees in both the U.S. and India, and we aim to leverage this strength. Our upcoming hiring initiatives will prioritize candidates from diverse backgrounds, including more women and individuals of various nationalities,” he said.

Established in 2018 and publicly launching last year, the company has secured 100 enterprise clients, with the majority of these acquisitions occurring this year as businesses seek to optimize their sales strategies in response to the challenges presented by COVID-19.