Gong has acquired Israel-based Vayo, a startup specializing in data analytics for sales teams. No financial terms were disclosed. Gong’s backers included Coatue, Index Ventures, Salesforce Ventures, Thrive Capital, Battery Ventures, NextWorld Capital, Norwest Venture Partners, Sequoia Capital and Wing Venture Capital.
SAN FRANCISCO – September 1, 2020 – Gong, the revenue intelligence platform leveraging artificial intelligence to go beyond traditional CRM and transform revenue teams, today announced it has acquired Vayo, an Israel-based startup specializing in data analytics for sales teams. With the acquisition the entire Vayo team joins Gong, adding firepower to Gong’s award-winning data analytics capabilities. Terms of the deal were not disclosed.
Gong’s revenue intelligence platform enhances CRM by automatically and accurately capturing the full range of interactions between a sales organization and its customers, including via emails, web conferences and more. Gong then provides AI-driven insights from that data to drive higher revenue, more accurate sales forecasts and better trained sales teams.
With today’s news, Gong adds to its A.I. capabilities with Vayo. Founded two years ago by Avshi Avital and Yarin Benado, it specializes in software that examines complex, cross-platform data from customer interactions and identifies important, common themes that can help improve the performance of revenue teams and other organizations.
“Revolutionizing AI for the sales industry was a passion Gong and Vayo shared before the acquisition, and together we are making our technology available to tens of thousands of Gong users,” said Vayo CEO, Avshi Avital. “Gong is the de-facto revenue intelligence platform in the market due to its game changing insights unmatched in the industry, and the Vayo team is thrilled to join forces with the market leader.”
In March of this year, Gong launched its Deal Intelligence capability, providing instant, accurate and up-to-date views of every deal in a sales organization’s pipeline. The technology enables sales professionals to shift from recapping what they’ve done to identifying at-risk deals and strategizing how to turn them around.
“Deal Intelligence has taken our customer base by storm, with more than 70% of our customers now set up to close more deals faster,” added Gong CEO, Amit Bendov. “It was only natural that we look for ways to accelerate the product roadmap delivery and Vayo’s technology helps us do exactly that. Our customers can expect upcoming product launches to contain even more delightful surprises to help them manage their deal pipeline and increase win rates. Stay tuned, because we are just getting started. Adding Vayo’s team and technology helps accelerate our product vision and we are well on our way to creating the go-to platform for sales professionals across every industry to help them experience win rates unparalleled to what they’ve been able to accomplish before.”
The acquisition comes on the heels of Gong’s $200 million Series D funding round, which took the company to unicorn status for the first time with a $2.2 billion valuation. Earlier in the year, Gong was awarded a U.S. patent for technology that drastically improves sales organizations’ customer conversations.
Gong enables revenue teams to realize their fullest potential by unveiling their customer reality. The patented Gong Revenue Intelligence Platform™ captures and understands every customer interaction, then delivers insights at scale, empowering revenue teams to make decisions based on data instead of opinions. Over 1,200 innovative companies like Zillow, Slack, PayPal, Twilio, Autodesk, Shopify, Hubspot, SproutSocial, Zoominfo, Outreach, MuleSoft and LinkedIn trust Gong to power their customer reality. With Gong, customers experience improved win rates, increased deal sizes, and accelerated employee ramp-times. Gong was recently named to the Forbes AI 50 list, which recognizes the most promising privately held companies in the U.S. using AI to benefit businesses, and is headquartered in San Francisco. For more, visit www.gong.io or follow us on LinkedIn.