World’s first Outcome-based suite of AI SDRs for vendors of retail, food, real estate and manufacturing. Enabling sales meetings as an Outcome/Result.
Team
- I am Tanuj, an exited founder with 15+ years of SaaS experience. Flipkart (acq: Walmart) acquired my first SaaS company.
- Amitav Khandelwal - my co-founder and CTO is an exited founder, he ran a service agency with 10+ years of experience in development.
- We have built a great team of Tier-1 folks and many ex-founders themselves.
Problem
- Given the current competitive landscape of B2B sales - efficient Sales Reps (or SDRs) have become more important than ever.
- However, 60% of companies complain of multiple issues primarily related to hiring and retaining top SDR talent which leads to unmet targets.
- Companies get stuck into a loop of always hiring and training more than 30% of their SDR teams - which as a process takes around 3 months to complete (16% of average SDR tenure)
- Adding to this - the SDR pool for hire is mostly freshers as most SDRs with more than a year of experience try to move to senior roles or switch profiles.
- For these precise reasons, 85% of companies observe a consistent skill gap in SDR teams which leads to 16% lower revenues for companies.
Solution
- The recent advancements in AI have given rise to rational pieces of software called AI Agents and using these, we are redefining the Sales development process.
- Our solution to the SDR conundrum lies in the development of multiple AI agents for specific tasks that the SDRs perform, weaving these AI Agents into a workflow designed by an Expert in the loop - creating an AI SDR / AI Employee.
- An Expert will be a SalesMonk individual with dual experience in industry-specific sales and in designing AI “Agentic” Workflows - an ecosystem that prevents AI Hallucinations with HTL (human-in-the-loop) feedback.
- This setup gives us the Quality + Quantity that enables us to offer outcome-based pricing i.e. we only charge basis the results we provide
Our Product
Introducing SalesMonk AI - a suite of in-house AI Employees and AI agents workflow builder run by our experts in the loop.
- SalesMonk is an AI platform where you input Ideal Customer Profile and Persona details and it generates sales meetings - payable outcome basis.
- We have developed a suite of AI Workers, each of which specialises in a different task. example - An Inbound AI SDR tackles all incoming website leads and a Cold Outbound agent does hyper-personalised multi-channel Outboundx.
- Under the hood, this is achieved by multiple AI Agents - which are rational pieces of software that can execute multiple tasks, with a defined end goal, autonomously.
How the SalesMonkAI generates meetings
- The client defines the use case for outreach ( Inbound led, ABM, Event Campaign)
- The SalesMonk Expert designs a use case-specific workflow using agents from our suite.
- The workflow is then set into motion while the Expert monitors this whole process and intervenes when necessary - making amends that lead to the desired outputs.
The Tech behind the product
We have proprietary AI agents that use a variety of LLM models from OpenAI and Anthropic, and first-party and third-party data sources via function calling tools. They also rely on humans-in-the-loop for clarifying questions and validating the plan of action for the agents before execution.
Our AI agents draw on 3 kinds of knowledge bases:
- Client domain: We ingest product information of our clients
- Outbound domain: This shapes the personality and tone of the content we generate, aligning with the client's brand
- Vertical domain: We leverage our experience with sending outbounds and success rates for those w.r.t specific verticals like retail and edtech.
Example of a Classic Outbound Campaign workflow (Outbound AI SDR)
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A Prospecting Agent processes the ICP data, integrated CRM data and Intent data. It then prospects leads from the generated Account list via sources like LinkedIn and sent to the next agent.
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An Enrichment Agent enriches leads from multiple data sources like ClearBit and Apollo.io
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A Content Agent can then Generate hyper-personalised outreach content utilising data points from LinkedIn posts, the latest internet activity, job switch indicators to many more
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Post Expert feedback, an Outreach Agent will run multi-channel cadences via Mail, Call, LinkedIn, SMS and Social Media.
Example of an AI agent workflow ( or an AI employee )
Outcome/Result based pricing
- We are moving from ‘Jobs to be done’ by specialists (SaaS) to ‘goals to be attained’ by AI (OaaS)
- With the growing competitive XaaS Space - at least 75% of clients are discussing their output with the providers.
- Outcome-based pricing takes away the risk from customers and gives the seller a competitive advantage, these factors allow exponential scaling.
Key Aspects that make OaaS attractive and feasible
| 1. |
Competetive Advantage |
Outcome-based pricing provides a competitive edge over other market players. |
| 2. |
Emerging Tech |
Emerging tech makes OaaS possible as we utilise the tech potential to generate consistency and produce the best results |
| 3. |
Exponential Scale |
OaaS pricing allows exponential Scaling. It enables smooth adoption by users as most are concerned with results while subscribing to something new. |
| 4. |
Customer Relations |
Ensures better customer success as the client gets the output at an agreed-upon rate - no surprises or hidden charges |
| 5. |
Customer Risk |
The customer is assured of no risk of investment and also puts the provider under a constant improvement cycle to strive for the best outcomes. |
- In the current scenario, companies are spending anywhere from 600 - 10,000 USD to generate a meeting.
- SalesMonk AI provides the same outputs at 1/10th of the cost and saves the company equally in terms of resources and management bandwidth that goes into sustaining a sales team.
- For us, the cost of outbound is just 40-600 USD per meeting and this gives us a gross margin of 80%.
GTM
- There are more than 1,000,000 vendors of retail, food, real estate and manufacturing in North America.
- Most sales leaders in these companies must possess industry expertise while also leveraging cutting-edge tools to stay ahead of the competition. However, their sales teams often lack the necessary knowledge to effectively utilize these advanced sales tools, preventing them from gaining a significant competitive edge.
- Hence most tech vendors struggle with outbound and even avoid it.
- The tools’ paradox of choice, high learning curves, and decreasing effectiveness of generic & massy cold outbounds have most vendors in a fix. This not only diminishes brand value but also burns bridges for future opportunities, especially when operating in a smaller TAM.
- It’s important for us to target the industry vertical by vertical.
ICP
- Geography - North America
- SaaS and Non-SaaS vendors of Retail, Manufacturing, Real estate and food
- Revenue > 1 Mn
- We target CRO/Head of sales
Why us
- In the entire process, zero bandwidth is required from the vendors.
- We lie at the top of the value chain, integrate deep within their system, are scalable and become the only AI tool that the clients will need for booking meetings via outbound.
- Our ACV is going to be USD 30-40k to start with and >100k in the longer run
Where we are
- We already work with 5+ clients and will cross >1 Mn USD ARR in the next 6 months.
- We have productised our 10+ years of experience in outbound - and our human-in-the-loop ensures the AI delivers as desired.
Current Angels
Pavitar Singh
CTO/Co-founder, Sprinklr
Krishna Mehra
Co-Founder, Capillary Tech
Pankaj Srivastava
CFO Farfetch