Canadian tech startup GrowthGenius scores $1.83M in funding to scale its AI-powered sales prospecting automation platform
Customers are the lifeblood of every business. No company can survive without customers. In recent years, customer acquisition has become one of the biggest challenges faced by every new business. With increased competition and even with billions of users now online, finding the target customers is like looking for a needle in a haystack.
Enter GrowthGenius, a Toronto, Canada-based tech startup that helps sales teams at B2B tech companies consistently fill their pipeline. Using machine learning and AI, GrowthGenius’ sales automation platform combines 250 million prospect database, lead generation, email verification, and email sending tools to streamline outreach.
The company also offers individual and bulk prospect search, multi-step email verification, scheduled drip campaign sending with triggers, personalization, and open, click, and reply detection, and integrations through Salesforce, Hubspot, and others. GrowthGenius claimed to have generated millions of dollars for growing companies around the world by connecting them with new customers.
Today, GrowthGenius announced it has closed a $1.83 million (C$2.3M) in funding to accelerate the nearly 200% annualized revenue growth since the beginning of the year. The round, which is a mix of term debt and equity, was led by FirePower Capital’s private equity arm.
In conjunction with the funding, GrowthGenius also announced that two of FirePower Capital’s leaders, Anthony Lipschitz, Partner, Private Equity, and Sebastien Douville, Partner & COO, will join the board of directors
Founded in 2016 by Brandon Pizzacalla and Will Richman, GrowthGenius operated for 3 years as a tech-backed sales agency before launching its sales prospecting automation software publicly in 2020. GrowthGenius is used by over 2,500 companies, from one-person startups to Fortune 500 companies.
“With our recent funding, we will continue improving our core product and drive more value for our hundreds of customers. We built GrowthGenius to help great companies succeed by never having to worry about sales again,” noted Brandon Pizzacalla and Will Richman, co-founders of GrowthGenius. “With our recent funding, we will continue improving our core product and drive more value for our hundreds of customers.”
“GrowthGenius combines the power of sales automation technology with the insights and perspective of sales consultants to provide a highly effective offering,” said the founders.
Since the launch of GrowthGenius’ software platform in June 2020, the customer base has grown to over 500 companies. Marketing agencies, sales agencies, and professional service firms have had the highest success with GrowthGenius, though the company has worked with customers across nearly every vertical. In the last year, GrowthGenius has generated over 90,000 sales conversations and over $350 million in a qualified sales pipeline for its customers and clients.