Vymo, a technology company whose mobile app captures and automates data for insurance sales reps and others on the go, has raised $18 million in new financing.
The India-based SaaS (software as a service) company plans to use the Series B financing to fuel its official U.S. launch and debut of its New York headquarters. Financing will also target further global growth.
Vymo said it has worked with some of the world’s largest insurance and financial companies, including AXA, Allianz, AIA, Generali and Sumitomo. Customers also include larger banks in Asia Pacific, the company added. It claims 100,000 salespeople are using its technology, known as a mobile-first, AI-based Personal Sales Assistant.
Emergence Capital, an enterprise cloud venture capital firm, lead the round, but existing investor Sequoia India also participated.
Vymo said its “mobile-first personal sales assistant … automatically captures data of sales activities, learns from the best sales reps in the organization and suggests next best actions contextually.” The company added its technology eliminates the need to report data into CRM systems manually. By doing so, it said sales reps and their managers can make plans based on data and have more time to meet with clients rather than dealing with manual scheduling and planning.
Vymo uses this rich contextual data to learn what the best salespeople in the organization are doing, and translates this into next best actions for the entire team, the company said.