B2B SaaS startup Kennect secures $700K in a Seed funding round led by FortyTwo.VC
- ByStartupStory | August 10, 2022
Kennect, a business-to-business (B2B) SaaS sales acceleration firm located in Delaware and Mumbai, has secured $700,000 (approx. Rs 5.57 crore) in a Seed investment round led by FortyTwo VC. FortyTwo VC is a venture fund established in Dallas, Texas that focuses on innovative corporate technology prospects. Kennect, founded in 2017 by Pulkit Agrawal and Pralok Chhajed, offers a cloud-based no-code platform for automating incentive compensation management, improving sales rep engagement, and driving sales performance.
According to the company, its goal is to become the preferred and most adaptable, intuitive, and user-friendly solution for sales incentives. It boosts sales productivity by allowing sales personnel to see their performance and incentives. “We all know that sales are difficult, and handling sales compensation may be a challenge for many businesses,” stated Pulkit Agrawal, Co-founder, and CEO of Kennect. “Kennect strives to recognize every sales professional’s hard work by providing an incentive platform that allows them to keep on top of their incentive earnings.” “With its intelligent nudge function, every sales professional is now informed of their next best move in real-time to increase their take-home pay,” Pulkit explained.
According to the announcement, the business intends to allow more than 100 organizations to use the technology over the next two years. Among its notable clients include Indian and worldwide pharmaceutical corporations such as Sanofi, Zydus, Lupin, AstraZeneca, and Lonza. Kennect intends to use this round of investment to grow its technical team and commercial presence throughout the North American and European markets.
“Incentive design and management are essential components of a successful sales plan. Kennect is developing a new generation incentive compensation platform for the global life sciences sector,” the company stated. Asutosh Upadhyay, Co-Founder & General Partner at FortyTwo VC, commented on the investment, saying, “The team at Kennect – Pulkit, Pralok, and Omkar – have developed the framework for a tremendous business.” They have a leading platform, a prestigious client roster, and a good worldwide GTM strategy.”
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