Connect with us

Funding & Business

AI Startup Aurasell Raised $30M Seed in 28 Hours to Take on Salesforce

Published

on


Within 28 hours, AI startup Aurasell raised $30 million in seed funding to take on Salesforce and other legacy sales software companies.

Aurasell, which is coming out of stealth and announced the seed funding on Tuesday, aims to automate sales and streamline the disparate tools — and more recently, the AI agents — built on top of customer relationship management (CRM) software like Salesforce. It includes sales tools for forecasting, prospecting, account population, and more.

The company closed its seed round in June 2024 and started building last August, said Aurasell cofounder and CEO Jason Eubanks, who briefly worked as a venture partner at Next47. Next47 led the funding round, which also featured participation from Menlo Ventures and Unusual Ventures.

Eubanks worked as a sales executive for 20 years at companies like Cisco Meraki and Twilio. He cofounded Aurasell with CTO Srinivas Bandi, with whom he previously worked at software delivery company Harness.

The tool bloat is not only costly but a productivity killer for sales teams, Eubanks said. He said that when he worked at Harness, the company had nearly a dozen different tools supporting sales teams and spent millions annually on software subscription fees.

“There’s an opportunity to use AI to inject intelligence in an automated way into these processes that were formally manual,” Eubanks said.

Eubanks said Aurasell raised the first $25 million in 12 hours, and the round was initially oversubscribed at $40 million before it was walked back down. Aurasell’s investors had been on the boards of companies where he and Bandi had previously worked, and they were drawn by the lucrative problem Aurasell was trying to solve, Eubanks said.

Bandi said Aurasell’s seed round was large because of the costs associated with quickly building an AI system from the ground up.

In addition to the infrastructure costs, Aurasell hired roughly 40 engineers — half of whom are AI engineers. 70% of the team is based in San Francisco, and the rest is in India. Aurasell makes money by charging an annual subscription fee per user.

Aurasell isn’t the only company looking to disrupt sales software with AI. Boston-based Creatio, which sells CRM tools and a variety of other apps, announced it raised $200 million last year at a $1.2 billion valuation, while Seattle-based Clarify announced a $15 million Series A in June.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Funding & Business

Applying 'Coach Playbook' to Kate Spade: Tapestry CEO

Published

on




Joanne Crevoiserat, Tapestry CEO, says the company will apply its successful Coach “playbook” to Kate Spade. She tells Romaine Bostick and Katie Greifeld on “The Close” that the brand is resonating with younger consumers, noting Gen Z views luxury differently. (Source: Bloomberg)



Source link

Continue Reading

Funding & Business

Larry Ellison’s $89 Billion One-Day Wealth Boom Shatters Records

Published

on




Larry Ellison briefly surpassed Elon Musk to become the world’s richest person Wednesday after a jump in Oracle shares added a record amount to his fortune. 
Ellison’s wealth soared to $89 billion after Oracle’s latest earnings results surpassed analysts’ expectations, with the company saying there’s more growth to come.
That increase lifted Ellison’s total net worth to $383.2 billion, according to the Bloomberg Billionaires Index. It’s the biggest one-day increase ever recorded, and put him ahead of Musk for much of the day Wednesday before the Tesla CEO edged back into pole position by $1 billion. Bloomberg News Wealth Americas Team Leader Kristine Owram joins Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)



Source link

Continue Reading

Funding & Business

Charlie Kirk Shooting: Students Seen Fleeing Campus

Published

on




People seen leaving university campus after Charlie Kirk shooting at Utah Valley University. (Source: Hyrum Hatch)



Source link

Continue Reading

Trending