Gong introduced a $200 million Series D funding simply final month, and loaded with contemporary money, the corporate wasted no time taking benefit. Today, it introduced it was shopping for early stage Isreali gross sales know-how startup Vayo. The corporations didn’t share phrases of the deal, however Gong CEO Amit Bendov mentioned the deal closed a few weeks in the past.
The two corporations match up fairly effectively from a tech standpoint. While Gong searches unstructured information like emails and telephone name transcripts and finds nuggets of knowledge, Vayo seems at structured information, which is basically the output of the Gong search course of. What’s extra, it handles massive quantities of knowledge at scale.
“Vayo helps discover buyer interactions at a big scale to establish developments like clients more likely to churn or utilization goes up, or your offers are beginning to decelerate — and so they do that for structured information at scale,” Bendov advised TechCrunch.
He mentioned this capability to establish developments was actually what attracted him to the corporate, although it was nonetheless at an early stage of growth. “It’s an ideal match for Gong. We take unstructured information — emails, audio calls video calls — and extract insights. Customers, particularly with a big group, don’t wish to see particular person interactions however excessive order insights […] and so they’ve developed [a solution] to establish developments on massive information volumes for buyer interactions,” he mentioned.
Vayo was based in 2018 and raised $1.7 million in seed capital, in line with Crunchbase. Joining forces with Gong offers them a chance to develop the know-how inside an organization that’s rising rapidly and is extraordinarily effectively capitalized having raised over $300 million within the final 18 months.
Avshi Avital, CEO at Vayo, who has joined Gong along with his 4-fellow workers, gave a well-recognized argument for promoting the corporate. “With Gong we discovered the right associate to comprehend this mission sooner and maximize the affect of the know-how we constructed given the size of their buyer base and development potential,” he mentioned.
The plan is to fold the Vayo tech into the Gong platform, a course of that may take 3-6 months, in line with Bendov.
Gong raises one other $200M on $2.2B valuation