Pramata offers a Commercial Relationship Operations platform with human-assisted AI to help the largest companies in the world grow revenue, reduce risk and drive business efficiencies.
Founded in 2006, Pramata digitizes and normalizes detailed customer information from complex customer contracts and other systems of record to enable large enterprises to prevent revenue leakage, improve retention, and enhance upsell.
The Company’s product enables enterprise users, from field sales, account management, and sales operations, to view this data through Salesforce.com, other CRM platforms, or Pramata’s own SaaS application, giving them complete transparency into an otherwise complex customer relationship.
In late 2015, Volition Capital invested in Pramata.
Large organizations with complex, negotiated customer contracts have a clear pain point around contract visibility, which inhibits renewal, upsell, compliance, and billing. Prospects today have failed to address this problem in a scalable way, often relying on inefficient and costly manual research efforts.
Despite significant investment in contract creation and CRM tools in recent years, the contents of customer contracts themselves, and thus visibility into existing customer relationships, remains challenging for companies closing complex, negotiated B2B contracts. Large enterprises oftentimes struggle to understand and identify key contractual data points spread across various documents such as master agreements, addendums, and pricing agreements. This pain point is particularly acute when these agreements have been modified by various sales, sales operations, and legal personnel over time.
Enter Pramata –
Volition Capital Managing Partner, Larry Cheng, said, “We believe Pramata’s technology has the ability to provide a tangible ROI tied directly to revenue. The product offering allows for the ability to develop $1M+ recurring revenue relationships within core target verticals (telecom, life sciences, high-tech), with strong upsell and retention dynamics. These dynamics can produce valuable long-term relationships with the Company’s customers.”