Nektar Exits Stealth Mode to Help Companies Navigate the Downturn by Fixing CRM Data Leak

By PRNewswire On Sep 7, 2022

Unprecedented amount of free flow capital resulted in startups throwing money at tools to tackle growth while efficiency and productivity were put on the back burner. With the ongoing tech meltdown, these companies are now responding to the market condition with layoffs, cost cuts, and budget freezes. The tech industry’s prevalent mindset to follow a ‘growth at all costs’ approach is now shifting towards ‘productivity at all costs’.

Sales teams depend on their CRM data to gain insights into team productivity, pipeline insights, and revenue forecasting. Despite a CRM being an important system of record for modern go-to-market teams, it still grapples with the problem of poor user adoption and missing data. As per estimates, 40-50% of sales activity data remains missing from a CRM, while 27% of the data that’s available in a CRM decays every month. This leads to major data and productivity leakage.

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Revenue operations solution provider, Nektar.ai is addressing the ‘CRM data leakage’ problem and has launched the general availability of its AI-enabled activity capture and intelligence solution. Nektar’s no-code platform automatically captures revenue activity data from email, calendar, chat, and social across all touchpoints in the customer lifecycle. This results in enhanced rep productivity, unprecedented pipeline visibility, and revenue predictability – all with zero rep adoption.

Backed by B Capital Group, 3One4 Capital, and Nexus Venture Partners, Nektar raised a $6 Mn seed round in August 2021 and had been working in stealth with early customers such as Lily.ai, MoEngage, and Observe.ai.

Pete Lee, SVP of Sales at Lily.ai had this to say about Nektar, “It’s hard to know where to spend your time when you’re not sure if what you’re looking at is accurate. Nektar keeps the data up-to-date and surfaces insights into actual selling time, and inbound vs. outbound activity.”

Nektar is a fully remote company with 32 people (and growing) distributed across 7 countries and has 1500+ users. The company plans to spend the rest of the year on its go-to-market strategy and hiring.

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