Implisit Undergoes $3.3M Initial Financing Round Led by Gemini Israel Ventures
HERZLIYA, Israel, January 8, 2014 /PRNewswire/ --
Gemini Israel Ventures led a $3.3 million initial financing round in Implisit, a company that provides a SaaS based product for boosting sales and improving the productivity of sales teams. Rotem Eldar, Partner at Gemini, joins the company's board of directors following the round.
Implisit has developed a product that introduces a unique intelligence layer to plain vanilla CRM (Customer Relationship Management) systems. This innovative technology combines full data entry automation and intelligent data mining algorithms to yield important insights to company sales teams. The first element assures that CRM data is always complete and accurate, thus allowing salespeople to enhance their productivity by focusing on sales efforts. The second element is Implisit's recommendation engine, which points the sales teams to the most pertinent opportunities, while allowing sales managers to better forecast and predict outcomes. Full analyses of relevant business data are performed in order to determine common business processes, identify deviations as they occur and ascertain actionable items that will lead to seized opportunities. Having recently launched a few months ago, the product has already been adopted by dozens of sales teams globally.
"CRM is experiencing a systemic shift," said Gilad Raichshtain, co-founder and CEO of Implisit. "While cloud computing has made CRM accessible to any organization, we have yet to see a wider adoption of CRM systems. The next generation CRM is expected to automatically uncover available information about prospective deals and potential customers, and guide the organization through a successful sales process. We believe this to be the catalyst for more comprehensive usage. Our vision is to lead the next wave of CRM disruption with data-driven intelligence. We are very excited to partner with Gemini for the unyielding commitment and deep involvement they demonstrate to their portfolio companies.
"Implisit solves the most fundamental flaw in CRM systems, which is that the data entered is often flawed and never truly complete," explains Rotem Eldar. "Today, sales teams are limited in their accurate forecasting capabilities; proper decision-making thus suffers inaccuracies. Implisit's offering introduces a layer of innovative intelligence which is an essential element to tomorrow's CRM. We always look to invest in companies leveraging advanced technologies to solve real pains for their customers. We were very impressed by the execution level of the company's team and by the achievements they made with limited resources.
Implisit was founded in 2012 by Gilad Raichshtain and Elad Donsky. The company's ten team members operate from their offices in Tel Aviv and New York. The investment will be used for expanding R&D and marketing staff, enhancing the sales team and next generation product development. http://www.implisit.com
SOURCE Gemini Israel Ventures