Demodesk, a Munich-based startup that proves online meeting software for sales teams, has raised $8m in a Series A funding round.
The funding will go towards hiring new employees, developing its software and scaling up the business in the US and Europe.
The platform allows sales teams to use interactive virtual displays to showcase a product while conducting a video sales presentation. Demodesk’s browser-based software also provides real-time prompts to sales teams as they look to close the deal. It also provides automated scheduling, allows shared keyboard and mouse control, and provides analytics.
Demodesk receives stay-at-home boost
The shift to remote working during the pandemic his driven up demand for Demodesk’s software, with its customer base doubling in 2020 so far. Among its 150 enterprise customers are Treatwell, Personio and Forto.
“Demodesk has resonated with sales teams globally – across many sectors and industries – because it strips back sales meetings to their core; letting reps get to the heart of what they love doing,” said Veronika Riederle, CEO and co-founder of Demodesk.
“By removing the barriers of unnecessary downloads, lags, compatibility issues and restricted screen sharing, we help teams increase productivity and conversion rates. Demodesk automates sales coaching and training and cuts down time spent on manual preparation, scheduling and documentation workflows.”
Demodesk’s funding round was led by London-based VC firm Balderton Capital, with participation from Target Global and Funders Club. It brings the total raised to $10.3m since it was founded in 2017.
James Wise, partner at Balderton, said: “Demodesk sits at the intersection of two big shifts, tailored video applications and more data-driven sales. While tools like Zoom and Teams have proven themselves to be essential, we are now seeing the rise of specific applications for different video use cases, and Demodesk is perfectly made for sales calls and demos.
“Secondly, just as new technologies are helping marketeers move from ‘mad-men’ to ‘moneyball’, we hope Demodesk can become part of a wave of new tools, from Salesforce to Gong, that are helping salespeople do their job more efficiently and effectively, as the sales profession becomes less Del-boy and more data scientist.”