In sales, it’s all about getting leads, and Lynkos, which today announced funding of $2.5 million, has a novel approach to finding them. The startup uses artificial intelligence to join CRM software with data on companies around the world.
Using Lynkos, sales people can import their own leads or set criteria to find them using the online service. The leads can be prospected using the product’s email marketing tools and tracked throughout the sales process.
“We have a lot of automated bots crawling the web for business data, classifying them to improve business profiles, industries, and opportunities,” wrote Federico Cella, founder and CEO of Lynkos, in an email to VentureBeat. “We have about 40 crawlers on autopilot 24/7. All of that goes through a funnel of AI before Lynkos actually uses that data.”
Cella claims Lynkos has 2.2 million businesses in its network from over 900 industries and over 200 countries — the majority of whom are small businesses that involve technology and advertising. Many of these companies use Lynkos as a B2B social network.
Lynkos’ free plan offers two users access to basic features and limited analytics. Businesses may upgrade to a premium subscription that costs between $20 and $140 per month, based on number of users. The startup also generates revenue from transactional fees for one-on-one messaging over the free limit, optional privacy settings on opportunities, and advertising.
The Montevideo, Uruguay-based startup has been in beta since 2009 and changed its business model at least once before choosing the current direction. “Lynkos started as a project focused on helping specific verticals on their sales management processes,” wrote Cella. “While that initial model helped us bring in vital revenue to kickstart Lynkos, it didn’t scale beyond a given point, and we started to burn more cash than we actually could [afford].”
Inforcorp’s IC Ventures, Logitech Investments (a multi-family office in Latin America), and several angel investors fueled today’s seed round. The new money will be used to further develop the product and relocate part of the team to the New York office.
Lynkos currently has 12 employees.
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