Kennect, a Delaware and Mumbai-based Software-as-a-Service sales acceleration start-up, has raised $700k in seed funding led by FortyTwo VC. FortyTwo VC is a Dallas, Texas-based venture fund with an investment focus on disruptive enterprise tech opportunities.
Kennect’s no-code platform allows enterprises to design, simulate and automate their incentive plans. The startup aims to become the preferred and most flexible, intuitive, user-friendly solution for sales incentives. It helps improve sales productivity by providing performance and incentive visibility for the sales reps.
It has targeted to enable more than 100 enterprises for adoption over the next 2 years. Some of its marquee customers include Indian and global pharmaceutical companies like Sanofi, Zydus, Lupin, AstraZeneca, Lonza, amongst others.
Commenting on the seed round, Pulkit Agrawal, Co-founder & CEO, Kennect, said, "We all know sales is hard and managing sales compensation can be a pain point for many companies. Kennect aims to reward the hard work of every sales professional through an incentive platform that helps them stay on top of their incentive earnings. With its intelligent nudge feature, every sales rep is now aware of their next best action in real-time to boost their take-home compensation.”
He added, “With this investment, Kennect plans to ramp up its engineering team and expand its commercial presence in the North American and European markets."
“Incentive design and management is a critical part of successful sales strategy. Kennect is building the new age incentive compensation tool for the Global Life sciences industry. It is one of the few success stories of teams from India building Enterprise focused SaaS products for global markets.
The team at Kennect - Pulkit, Pralok and Omkar have built the foundation for a great business. They have a leading platform, a marquee list of customers and a solid global GTM strategy,” said Asutosh Upadhyay, Co-Founder & General Partner at FortyTwo VC.
Founded in 2017 by Pulkit Agrawal (an IIT Bombay Alumni and an EY consultant) and Pralok Chhajed (previously worked with Takeda Pharmaceuticals, Northeastern University Alumni), Kennect is a leading cloud-based platform to automate incentive compensation management, improve sales rep engagement and drive sales performance. Find out more at https://www.kennect.io/
US-based FortyTwo.VC is an early-stage venture capital fund focused on early-stage seed & series A investments exclusively in the B2B SaaS and Enterprise Tech sectors. FortyTwo.VC partners with companies emerging from India and building SaaS / Enterprise tech businesses for North American markets. The fund is headquartered in Dallas, Texas Find out more at www.fortytwo.vc
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