SiftHub Secures $5.5 Million in Seed Funding to Revolutionize Sales with AI

AI Sales Creatively Imagined
Preeti Bali / 11:10 am / April 4, 2024

SiftHub, a new enterprise software-as-a-service (SaaS) company founded by Manisha Raisinghani, has successfully secured $5.5 million in its initial funding round. This seed funding round was co-led by prominent venture capital firms Matrix Partners India and Blume Ventures.

A Team of Experienced Leaders Backs SiftHub’s Vision

The funding round attracted participation from a diverse group of investors, including angel investors like the founders of Razorpay (Harshil Mathur and Shashank Kumar), SuperOps founder Arvind Parthiban, former Cloudflarehead supervisor Manish Jindal, and Godlike senior chief Andrew Johnston. Additionally, participation from Neon Fund further bolstered the support for SiftHub’s innovative approach.

Leveraging AI to Empower Sales Teams

SiftHub harnesses the power of large language models (LLMs) to create a unique enterprise tech platform. This platform empowers companies to automate personalized responses to sales and pre-sales inquiries, freeing up valuable time for their teams to focus on building crucial customer relationships.

Industry Leaders Back a Game-Changing Platform

Pranay Desai, Managing Director at Matrix Partners India, expressed enthusiasm for SiftHub’s vision. He highlighted their focus on utilizing AI to streamline product knowledge management, allowing sales teams to prioritize building strong customer connections.

Sanjay Nath, Partner at Blume Ventures, echoed Desai’s sentiments. He acknowledged SiftHub as Raisinghani’s second foray into the SaaS space. Nath commended Raisinghani’s extensive entrepreneurial experience and past successes, emphasizing her team’s potential to develop a revolutionary AI platform that transforms the entire sales and pre-sales process. Blume Ventures’ backing reflects their confidence in SiftHub’s ability to create a premium SaaS solution with global reach.

Streamlining Knowledge Management for Sales Efficiency

SiftHub integrates seamlessly with existing content repositories and customer relationship management (CRM) systems. This allows SiftHub to consolidate information scattered across various platforms into a single, readily accessible hub. By leveraging the power of GenAI, SiftHub can then answer internal team queries with exceptional accuracy and efficiency.

Global Reach and Continued Innovation in the Enterprise Tech Sector

Headquartered in the United States, SiftHub maintains an additional office in Mumbai, India. This second venture by Raisinghani underscores her commitment to innovation in the SaaS domain. Following her successful leadership of LogiNext Solutions, Raisinghani has also established herself as a prominent angel investor.

SiftHub’s funding success coincides with a period of continued growth in the enterprise tech sector. Despite concerns about a broader funding slowdown, enterprise tech emerged as the third most-funded sector in the first quarter of 2024, securing over $305 million across 28 separate deals. This trend is further exemplified by recent funding rounds for Bengaluru-based SaaS startup Vodex ($2 million) and B2B SaaS startup Rupyz ($1.2 million). Additionally, fintech SaaS startup Signzy’s recent acquisition of Difenz, a provider of fraud risk management solutions, further demonstrates the vibrancy of the enterprise tech landscape.

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