An Austin startup that wants to help sales professionals do their work has a new name and a fresh infusion of cash.
Olono, formerly Nexd, says its enterprise software tool automates the process of pursuing and closing deals, letting sales reps save time on tasks like data entry to focus on the bigger picture.
“Olono acts like a sales sidekick, helping a sales rep each and every day move through all the details and menial tasks as well as important strategic action that moves sales forward,” said CEO Larry Warnock.
The company wanted to create a persona like Apple’s Siri or Amazon’s Alexa, which is where Olono comes in, he said.
“It’s easy to say and it’s an actual female name,” Warnock said. “Whether it’s through your browser, mobile or text messaging or voice, you can interact and say things like ‘Olono, what email should I follow up on?’ ”
The platform uses machine learning and predictive analytics to understand what actions work, patterns of success and where roadblocks exist, he said.
The company was founded in 2015 and spent the past nine months in private beta with 15 companies.
“We’ve taken their feedback and we believe now this is ready for prime time. We’re now shifting from the development stage to the sales and marketing stage,” Warnock said.
Olono has 14 employees and is hiring adding workers across the board, with a focus on sales and marketing.
Last year, the company closed on $750,000 in seed funding from longtime Austin software executives including Bill Bock, a former leader of Silicon Laboratories and Tivoli Systems; and Kevin Cunningham, co-founder of SailPoint Technologies. ATX Seed Ventures also invested in the funding round.
The new investment is $4 million in seed preferred funding, which includes the conversion of outstanding debt. The deal was led by ATX Seed Ventures with participation from Wildcat Venture Partners of Silicon Valley and individual Austin investors.
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