Total amount raised
$45 Million
Latest funding date
2/1/2022
Location
Vymo has successfully raised funding over three rounds, with the latest being a Series C round. The company is backed by six investors, including Peak XV Partners and Bertelsmann India Investments.
Keep reading to explore the intricacies of Vymo's fundraising journey and the investors backing this innovative platform.
What Is Vymo?
Vymo is a sales engagement platform designed to enhance sales productivity and engagement for financial institutions. The company operates in various sectors, including FinTech, CRM, and SaaS. It is located in Sunnyvale, California, and has a significant employee base ranging from 501 to 1000 employees.
Founded to transform sales and collections processes for financial institutions, Vymo leverages advanced technology to improve operational efficiency and effectiveness. The company remains private and has successfully raised funding through Series C rounds.
How Much Funding Has Vymo Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: November 2016
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance the platform's capabilities to better serve financial institutions.
- Series B
- Amount Raised: USD 18,000,000
- Date: July 2019
- Lead Investors: Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate growth in key regions.
- Series C
- Amount Raised: USD 22,000,000
- Date: February 2022
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth in the US and Japan markets and address challenges faced by remote sales teams.
Total Amount Raised: USD 45,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bertelsmann India Investments (BII)
- Details: BII is the strategic investment arm of Bertelsmann SE & Co. KGaA in India, focusing on early to growth-stage companies. Rohit Sood from BII will join Vymo's board as part of the investment.
- Investment Focus Areas: Digital, Education, Media, Services
- Notable Investments: Pepperfry, Lendingkart, Shiprocket
- Emergence Capital
- Details: Emergence Capital is a venture capital firm that invests in early and growth-stage enterprise software companies. They focus on companies that transform the way people work.
- Investment Focus Areas: Enterprise software, SaaS, Cloud-based companies
- Notable Investments: Salesforce, Zoom, Veeva Systems
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that invests in early and growth-stage companies across various sectors. They have a strong track record of backing successful technology companies.
- Investment Focus Areas: Technology, Healthcare, Consumer, Financial services
- Notable Investments: Apple, Google, Airbnb, WhatsApp
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that has been a significant investor in Vymo, participating in the Series A funding round. They focus on early-stage investments in technology-driven companies.
- Investment Focus Areas: Technology, FinTech, SaaS
- Notable Investments: Not publicly disclosed
- Sequoia Capital India
- Details: Sequoia Capital India is a branch of Sequoia Capital, focusing on investments in India and Southeast Asia. They invest in early and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Byju's, Zomato, OYO
What's Next for Vymo?
Vymo's future is brimming with opportunities, particularly in the expansive sales tech markets of the US and Japan, valued at over $10 billion. The company aims to leverage its recent funding to accelerate growth in these regions, addressing the unique challenges faced by remote sales teams and enhancing customer engagement for financial institutions.
With the backing of prominent investors like Bertelsmann India Investments, Emergence Capital, and Sequoia Capital, Vymo is well-positioned for future fundraising rounds. These funds could further fuel its expansion and innovation, potentially leading to strategic acquisitions that enhance its platform capabilities.
However, Vymo must navigate challenges such as high attrition rates in sales teams and the competitive landscape of the sales tech market. Continuous innovation and effective management of remote teams will be crucial for maintaining its growth trajectory and market leadership.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like Vymo and gather other critical business insights. Sign up for free to enhance your sales strategies and stay ahead in the competitive market.
