Photo Credit: Tung Nguyen from PixabayAccording to a recent report, the generative AI market is expected to explode to reach $1.3 trillion by 2032 from a relatively modest $40 billion in 2022. The more than 40% annualized growth rate is expected to be driven by continued investments in large language models (LLMs), digital ads, and specialized software and services. Sales-focused automation platforms such as People.ai are harnessing generative AI’s capabilities to improve the overall efficiency of sales teams globally.
People.ai’s Offerings
San Francisco-based People.ai is known for its successful solution that leverages AI to drive enterprise sales by providing sales teams with access to relationship maps, opportunity management, engagement intelligence, and account planning capabilities. The company has been expanding its capabilities through new product development, along with collaboration with bigger tech players.Recently, it announced the addition of SalesAI, a fully integrated generative AI solution aimed at improving the way company leaders approach revenue, team structure, coaching, and go-to-market execution. SalesAI is focused on reducing the manual workflows that the sales team has to deal with by leveraging AI to simplify daily tasks, preparing the sales reps for customer meetings, accelerating pipeline creation, identifying hidden insights about deals, and providing possible coaching recommendations.Unlike other typical solutions, SalesAI solution has been built on a large volume of existing data. People.ai has already been collecting sales activity data for over a decade and compiling it into an aggregated and anonymized data repository. SalesAI is able to analyze four different sets of data – captured GTM activity data, People.ai’s proprietary profiles, CRM data, and any other relevant company data – to provide the sales reps with a holistic view of revenue-influencing factors.Recently, the company also announced a collaboration with Microsoft that will integrate its AI with Microsoft’s Sales Copilot. The solution will help sellers visualize stakeholder engagement, generate persona specific emails, and understand successful deal patterns based to increase the probability of winning the deal.By improving GTM insights and automating critical processes, the solution will continue to improve sales effectiveness. The solution will provide stakeholder insights, dynamic, AI-driven engagement levels, auto-generated personalized email correspondence and even suggest new stakeholders, opportunities and steps in the sales process.
People.ai’s Financials
People.ai remains privately held and does not disclose its financials. It operates on a subscription-based model with tier-based pricing starting at $50 per user per month. Analysts estimate that the company earned $38 million revenues last year. A recent Inc.5000 report had named People.ai as one of the fastest growing companies in the country.People.ai has raised $200 million in 9 rounds of funding led by Sand Hill Angels, Mubadala Capital Ventures, Akkadian Ventures, ICONIQ Growth, Gaingels, Lightspeed Venture Partners, UpVentures Capital, and Andreessen Horowitz.Its most recent round was held in August 2021, where it raised $100 million at a valuation of $1.1 billion from Akkadian Ventures and Mubadala Capital, with participation from existing investors including ICONIQ Capital and Lightspeed Venture Partners.More By This Author:Cloud Stocks: MongoDB Focuses On Verticalized OfferingsCloud Stocks: Klaviyo Tests The IPO MarketAnalysis Of Databricks’ AI Acquisitions
