iCrowd Newswire – Oct 20, 2020
San Francisco and New Delhi-based startup SquadStack has raised $5 million in a Series A funding round led by Chiratae Ventures, with participation from existing investor Blume Ventures. The company will utilize the funds to accelerate product growth and hire top product, engineering, and data science talent.
‘Auctm’ (derived from a Latin word which means growth) was launched in 2019 under the ‘SquadVoice’ brand and helped real estate teams across the US improve lead conversions by reactivating their ‘old yet hot’ leads. Along with rebranding they’ve revamped their offering to create the industry’s first AI-driven business management platform to improve the growth and profitability for real estate businesses.
Sales-tech innovation in the B2B enterprise world has proven that application of data-science and A.I. on sales data can dramatically improve lead conversions and efficiency, current solutions in the massive Real Estate market fall short, focusing only on limited data points. Often, brokers can’t intervene early and course-correct, losing hundreds of thousands of dollars annually in wasted lead spend and lost sales opportunities. Management at top brokerages and real estate teams indicate this as one of the biggest gaps in the market.
Auctm helps brokers run and grow their business with improved visibility, predictability, and control. Instead of going through overwhelming spreadsheets and dashboards which often get overlooked, Auctm creates a single source of truth by combining CRM, transaction, marketing, and accounting data in one place.
“As real estate becomes increasingly competitive, there is a renewed focus on profitability and efficiency. Auctm, by SquadStack is an A.I. powered business management solution that will help brokerages increase revenue, cut costs, and improve agent training and retention,” says Venkatesh Peddi, Executive Director at Chiratae Ventures.
“We’re incredibly excited about bringing best in class sales-tech innovation to the real estate community. Amidst emergence of businesses trying to replace agents and brokers, we strongly focus on keeping them central to this very important transaction and augment them with better technology to make them hyper efficient,” says Apurv Agrawal, CEO of SquadStack.
As part of its long-term strategy, SquadStack aims to similarly empower consumer focused businesses across the world. In its previous avatar as ‘SquadVoice’, it was featured as one of the top 10 tech products of 2019 and received a 5-star rating by Inman.