Israeli fintech startup RightBound created the first autonomous sales prospecting engine for B2B sales. It deals with transforming manual routines – such as company research, prospect selection and multi-channel outreach – into a data-driven, AI-based autonomous process. The company just raised $12 million in funding, led by Innovation Endeavors with participation from IBI Tech Fund and Operator Collective.
Fintech is anything new having to do with using technology to improve the transfers of money, or payments. This includes just about everything like every time a person pays for something on line. This, of course, comes with a need for improved cybersecurity to protect all such transactions. But RightBound deals with a very specific kind of fintech.
RightBound calls itself the next evolution of outbound sales development. With the power of AI and machine learning, RightBound boasts that its technology helps automate and optimize the sales development process, engaging in cold outreach, collecting data on prospects, eliminating time-consuming manual cadences, and freeing up the sales development team to do more of what people do best. RightBound says that its customers have achieved 20-40% increases in outbound sales results and 100% ROI within 3 months of implementation.
And the Covid shutdowns have actually helped the company progress. This is because, as RightBound explains, during the months of widespread work-from-home during the COVID-19 pandemic, sales development reps discovered that most common practices for engaging prospects no longer apply. Office phones became obsolete, traditional work hours shifted and sending gifts to their office is no longer an option. So RightBound says that since it is “constantly learning their prospects’ behavior, and adjusts the playbook on the fly, it was a game changer for many sales development representative (SDR) teams and enabled them to recover and grow their performance during these times.”
“RightBound is bringing a completely new approach to sales prospecting that provides autonomous optimization for outbound sales for the first time,” said Ran Oelgiesser, co-founder and CEO of RightBound. “No machine could or should replace humans in B2B sales conversations. But it’s time for sales teams to step up and benefit from AI to its full extent when it comes to automation and optimization of research, targeting and customized outreach – beyond what’s humanly possible.”