Caffeinated, Coatue, Gradient back RevOps to build modern sales stack for startups
Building internal sales agreement software, often known as quote-to-cash, is an expensive and time-consuming process that RevOps wants to take off the plate of fast-growing startups.
Today, RevOps announced an oversubscribed $5 million follow-on seed round led by Caffeinated Capital, Coatue Management and Gradient Ventures. Angel investors, including Twilio’s Jeff Lawson and executives from Airtable, GitHub and Twilio, also participated. The round brings the company’s total seed funding to $6.7 million.
Company founders Adam Ballai and John Solis saw this problem firsthand while working at Twilio and PullString, respectively. Ballai led the team that built Twilio’s billing software to automate receivables, payables, reconciliations and pricing engines, while also launching hundreds of new products annually. However, much of the deal management was still being done via spreadsheet.
After Twilio, Ballai moved on to Stripe, and again saw that familiar spreadsheet. After meeting Solis, the pair did a study on the time it took to put these pricing deals together.
