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Why NFX Invested in Warmly: Harnessing AI to End the Cold Call
why-nfx-invested-warmly

Warmly just announced their $11M Series A led by Felicis Ventures, with participation from NFX (we led their Seed), F-Prime Capital, Maven Ventures, Zoom, and others. 

It’s the beginning of the end for the sales cold call. 

Warmly is a sales platform that uses AI to automatically send the right message, to the right person, at the right time – using data that usually falls through the cracks in most organizations. 

Here are three reasons why NFX invested: 

1. AI is clearly going to improve sales

The old approach to sales was to take as many shots on target as possible by peppering buyers with cold calls or emails. But it takes about 60 to 90 cold calls to reach someone at the right time. 

Warmly’s AI automates a targeted shot on goal by knowing when a prospect is already interested, or is about to be interested – by using data from multiple sources like Salesforce, Slack, website traffic, SalesLoft, Outreach, LinkedIn, 6sense and others.

And there’s good traction. Warmly customers have booked new sales meetings within 8 minutes of installing the software, some have doubled enterprise pipelines within 30 days, and at least one has already seen a 300% ROI in 6 months.  

2. They found the White Hot Center

Sales teams are getting smaller, so Warmly focused on small orgs and understaffed divisions of larger companies. These segments are neglected by other sales platforms which are focused on large enterprises. 

Warmly built the AI sales autopilot for those SMBs. It gives those orgs sales superpowers that, until now, weren’t built for them. 

They can still work with larger organizations in the future, but Warmly was disciplined enough to find and focus on their white hot center first.  

3. They are an iterative, ambitious, fast team

They move with speed and aggression.  Case in point:  When co-founder and CTO Alan Zhao began building this product, he got in the trenches himself to work as a sales rep. 

Warmly team

Warmly’s Team

Carina Boo, Warmly’s co-founder and chief product officer, was one of the fastest promoted engineers at Google, where she eventually led a 9 person team. 

In early 2020, co-founder and CEO, Max Greenwald saw a new app ecosystem developing on Zoom. He acted fast enough to get Warmly to the top of the Zoom store. 

Try Warmly here: warmly.ai

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Author
James Currier
General Partner
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