Pramata Raises $10 Million, Adds Essential Customer Contract and Billing Data to CRM
BRISBANE, CA – December 14, 2015. Pramata, the Customer Relationship Intelligence company, today announced a new financing round of $10 million. The Series A growth equity round was led by Boston-based Volition Capital, joined by current investors Argosy Capital and Peninsula Ventures.
Pramata Customer Relationship IntelligenceTM extracts essential information about customers from contracts and billing systems. Sales and customer-facing teams at B2B companies rely on it to answer key questions about complex, negotiated customer relationships, such as:
what has my customer agreed to purchase and what have they paid for?
what pricing and discounts are in effect?
what are the key dates and triggers?
what are the documents that define this customer relationship?
what are the risks and opportunities with this account?
This information is missing from CRM, Configure Price Quote, Customer Success Management and other sales force automation solutions. Companies often try to solve for it with inefficient, labor-intensive manual processes.
“Highly negotiated customer contracts define complex B2B relationships,” said Praful Saklani, Pramata co-founder and CEO. “Teams spend too much time trying to extract and understand the historical information buried in them, trying to piece together the puzzle of the current relationship. With Pramata, they can immediately leverage customer intelligence to focus on action to drive retention and growth results. ”
“We believe Pramata uniquely solves the enterprise’s need for more accurate, comprehensive and up-to-date information about current customer relationships,” said Larry Cheng, Managing Partner of Volition Capital and new member of the Pramata board of directors. “This investment will help Pramata accelerate growth and deliver its unique value to an even broader set of customers.”
Leading companies including CenturyLink, Cisco, Comcast, Medtronic, Truven, FICO and Novelis have adopted Pramata.
“Some of the best run companies on the planet rely on Pramata to help their sales and customer-focused teams work more effectively, efficiently and productively,” said Saklani. “Adding growth equity will help us accelerate product development, extend our reach and get us closer to our goal of making Customer Relationship Intelligence the gold standard for how enterprises add value to, and get more value from, their current customer relationships.”
More information about the Pramata Customer Relationship Intelligence solution is available at www.pramata.com.
Pramata is the Customer Relationship Intelligence company. Its solutions help large B2B companies retain and grow their most complex, and most valuable, customer relationships.
Pramata is headquartered in the San Francisco Bay area. More information is available at www.pramata.com.