Clozd, a leading provider of win-loss analysis technology for corporate sales teams, has raised a $52M Series A funding round led by Greycroft. Other investors in this round include Madrona Venture Group and Album VC.
The Clozd Platform powers real-time, win-loss intelligence for business leaders who want to know the truth about why their company wins and loses deals. Clozd delivers a continuous stream of win-loss insight based on direct feedback from recent prospects to highlight the specific actions a company should take to increase win rates. This new category of business intelligence, provided by Clozd, helps business leaders hone product strategy, refine messaging, enable sales, and foster strategic alignment to bring more deals across the finish line.
“Getting accurate, real-time insight about why you win and lose is critical for any enterprise that wants to increase win rates and revenue. Unfortunately, many companies are undisciplined and inconsistent about this analysis, often basing their conclusions on the subjective feedback from sales reps,” said Clozd co-founder and co-CEO, Andrew Peterson. “Clozd helps business leaders generate a continuous, automated stream of insight about why they win and lose that is based on the direct feedback of prospects and customers. The Clozd approach is becoming a de facto standard for B2B enterprises.”
The demand for win-loss analysis among corporations across industries is well-documented. A joint study with The Pragmatic Institute revealed that 100% of companies that spend $100,000 or more per year on win-loss analysis plan to maintain or increase their level of investment. Clozd brings key information to business leaders in aggregate enabling targeted changes to increase revenue and build customer programs that positively impact the top line. Clozd’s technology also complements integrations with popular CRM solutions including Salesforce with direct feedback from customers and recent prospects.
“Clozd is setting the standard in the nascent, highly coveted win-loss analysis category of business intelligence,” said Mark Terbeek, Partner and Enterprise Software Head at Greycroft. “The Greycroft Enterprise team is always on the lookout for those rare early-stage companies that are not only building a compelling product, but are also a first-mover in a promising new market. We believe Clozd is doing all the above.”
In five short years, Clozd has helped more than 150 B2B enterprises, including dozens of Fortune 1000 customers, to deepen their understanding of their successes and failures across various business operations.