Funds for Presales Optimization Platform Provarity

Pleasanton, CA-based B2B presales optimization platform Provarity has announced a $7 million seed round, more than doubling its funding to date. The money will be used to fuel go-to-market initiatives, expand its customer base and further refine its platform.

Provarity's sales enablement platform harnesses presales data collected over five years and focuses on the drivers of success during the proof-of-concept stage. The firm uses AI tools - including risk evaluation and deal health tracker WinScore - to automate manual processes, and helps teams to collaborate to reduce deal cycle times and improve ROI. The company says this 'gives presales leadership a seat at the table while delivering groundbreaking insights into sales engineering performance'.

CEO Chris Cabrera (pictured) says he was frustrated earlier in his career by the lack of 'purpose-built software to provide a repeatable approach to properly manage the POC process'. He explains: 'Our leadership had no visibility into the various technical evaluations (POC's) in order to forecast if and when the technical evaluation would close. We did not have a system to track or assess the underlying causes of our successes and failures. Provarity was built to address these challenges and bring clarity to presales teams. The support from our investors validates this mission'.

The investment, which adds to $5m from earlier rounds, was led by Cheyenne Ventures, with participation from Crosslink Capital, Illuminate Ventures, and Rembrandt Venture Partners. 'Provarity addresses a critical gap in the market' says Cheyenne MD Gregory Eaton. 'By delivering real-time insights and fostering team collaboration, they empower organizations to elevate their presales processes'.

Web site: www.provarity.com .