Dooly Research Ltd. has raised $2 million in seed funding led by ScaleUP Ventures, with the participation from Panache Ventures, Pallasite Ventures, and New Avenue Capital.
In connection with the financing, Derek Spratt, Partner and Managing Director of ScaleUP, has joined Dooly’s board of directors.
Dooly builds intuitive software that leverages AI to automate everything from CRM updates to delivering the right sales tools to support a rep’s conversations, which significantly reduces sales professionals’ admin time, ensures vital customer data gets captured instantly and drives better sales results.
Founded in 2014 by CEO Kris Hartvigsen and CTO Justin Vaillancour, Dooly intends to use the new funding to help fuel the team in reaching even more clients and offering a high-performing experience: primarily in developing more features and heightening the experience users have when using their platform.
photo credit: Dooly
ScaleUP Ventures Leads Seed Round into Vancouver-based Dooly.ai
Dooly.ai Raises $2 Million Seed Round to Expand AI-Driven Enterprise Sales Solution
Funding Accelerates Development And Adoption of AI-Based Software to Empower Sales Teams to Optimize Time, Automate CRM Process
TORONTO & VANCOUVER (May 22, 2018)–Dooly.ai—a leader in the enterprise sales SaaS space—today announced it has raised $2 million Seed financing led by ScaleUP Ventures, with participation from Panache Ventures, Pallasite Ventures, and New Avenue Capital.
The company builds intuitive software that leverages AI to automate everything from CRM updates to delivering the right sales tools to support a rep’s conversations, which significantly reduces sales professionals’ admin time, ensures vital customer data gets captured instantly and drives better sales results. Logically, Dooly’s software syncs to Salesforce, which eliminates manual updating and tedious “note transfer” into various databases. With its trained algorithm, Dooly syncs digital notes, fields, and tasks straight to Salesforce, while providing salespeople and customer success teams with the information they need, when they need it.
Founded in 2016 by Co-Founder and CEO Kris Hartvigsen and Co-Founder and CTO Justin Vaillancourt, Dooly ultimately aims to eliminate 65% of the time spent on back-end CRM administration.
“At Dooly, we’ve built a system of record bolted that actually engages its users, which gives us a great competitive advantage. It allows us to rapidly share information, not just capture it, by putting data in motion. By far, the most exciting thing that’ll come out of Dooly is our system of intelligence—the moment when your notes become the colour commentator in your deals, finding the signals inside your conversations and suggesting what you should do next,” says Hartvigsen. “Imagine a future where systems inform the user instead of the user having to inform the systems… exciting!”
Over the last decade, Hartvigsen worked at Vision Critical spearheading their sales team and international growth, helping grow the organization from startup to $100 million. The inspiration to start Dooly came from Kris’ long standing career in sales; namely, the administrative frustrations that came with it.
“ScaleUP is excited to lead the Seed round into Dooly. They are effectively helping build a next-generation CRM platform in a really creative way—by wrapping an AI front-end onto existing platforms like Salesforce—making CRM an enjoyable and powerful corporate tool rather than a soul-sucking data-entry chore” says Derek Spratt, Partner at ScaleUP Ventures. “It doesn’t matter what industry you look at, CRM is the mandated platform for customer interfacing and related corporate reporting. The addressable market is nearly infinite”.
With a 10% month-over-month growth in users, and large early-adopters like BigCommerce, SalesLoft, Intercom, and Vidyard, the product is on track to see extensive growth throughout 2018.
– 65% of a salesperson’s time is spent not selling (CSO Insights)
– CRM and Sales Acceleration Tools combined is a $60B market
– Dooly’s projected total addressable global market is $7.8B
– An average Enterprise sales rep using Dooly recovers more than 3 hours of returned productivity per week, resulting in roughly a 26x ROI
– Sales people spend, on average, more than 2 hours per day in Dooly communicating with customers
– Salesforce data continuity goes from <20% of customer data to >85%
“The #1 problem with businesses today is growth. Dooly tackles this problem by helping companies communicate better and speed up their sales cycle. Without a doubt, we believe that Dooly will become a core business scaling tool in the near future,” says investor Patrick Lor of Panache Ventures.
The Seed funding will help fuel the team in reaching even more clients and offering a high-performing experience; primarily in developing more features and heightening the experience users have when using their platform.
“I’m a proud Canadian. I really wanted to see something built in Canada, grown in Canada, and made in Canada through and through. Vancouver needs to have more tech anchors and we see ourselves being a beacon,” says Hartvigsen.
Founded in 2016 by Kris Hartvigsen and Justin Vaillancourt, Dooly is an AI-driven platform that makes it easy for teams to stay focused on their customers by putting their conversations in motion, driving instant collaboration, sales-enablement and updates across the business. Headquartered in Vancouver, Dooly aims to automate the sales process by moving information to and from customer-facing teams in real-time. The end goal is simple: providing the freedom to sell! Top brands like Vidyard, Intercom, and BigCommerce trust Dooly to close more deals.
For more information, visit www.dooly.ai.
Neha Varshneya, Marketing and Public Relations
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Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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