Image credits: Jiminny
London-based Jiminny, a conversation intelligence platform, announced on Thursday that it has secured $16.5M (approximately €15.9M) in a Series A round of funding led by Kennet Partners, a transatlantic growth equity firm.
The company says the funding will allow it to accelerate international expansion and product development plans. The company is also planning to recruit 30+ people.
The UK company says it will also double its R&D budget to drive innovation in the nascent conversation intelligence market.
Key areas for development include solutions to analyse emotion in the video, automated scoring of call interactions, and real-time insights generated from live transcriptions to drive accurate performance visibility.
Tom Lavery, CEO and Founder of Jiminny, says, “I’m delighted to announce details of today’s funding round, which will further propel Jiminny’s growth and enable us to keep supporting and serving our customers to the high standards we set.”
He adds, “Kennet’s investment is a resounding vote of confidence in a rapidly growing company and one of the fastest growing verticals in sales technology, despite current global economic headwinds.”
The demand for conversation intelligence solutions has increased in recent years as it helps sales teams scale up operations and professionalise coaching.
Senior business leaders are also looking to use technology to upskill current sales teams against challenging job markets and narrowing budgets.
Tom adds, “The pandemic saw a big uptick of interest in solutions that draw insights and analytics from customer conversations to enhance hybrid sales teams’ productivity and internal cultures.”
Here’s where Jiminny’s AI coaching platform fills the gap.
“Our platform gives the whole revenue team visibility of performance like never before and helps them to collaborate and coach to drive tangible improvements across the team,” he says.
Jiminny: What you need to know
Founded in 2016 by Tom Lavery, sales teams use Jiminny’s real-time platform to record and analyse new and existing customer conversations.
Businesses use these insights to improve performance and drive revenue and growth. Many organisations, from FTSE 100 constituent Informa to Europe’s leading expense management solution, Pleo, are using the platform, says Jiminny.
Currently, the company employs 60+ people across London, UK, and Sofia, Bulgaria.
Investor
Kennet Partners is a private equity investment firm that provides growth capital to information technology and business services companies.
The VC provides expansion capital to businesses that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor.
Hillel Zidel, Managing Director of Kennet Partners, says, “We believe that conversational intelligence is a long-term growth industry and view Jiminny’s value proposition as unique and potentially transformational. In addition, the company is a great example of the founder-led, customer-centric, capital-efficient business we love investing in.”
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