Jiminny, a London-headquartered conversation intelligence provider supporting sales teams worldwide, has picked up $16.5 million in Series A funding. The round was led by the sole investor Kennet Partners, a transatlantic growth equity firm, adding to its targeted portfolio of technology growth stage investments.
Global expansion plans
The funds will be used to accelerate Jiminny’s recruitment, including its expansion in international markets, and ambitious product development plans. The company will double its R&D budget to continue driving innovation in the nascent conversation intelligence market.
Post investment, the company is aiming to add over 30 people to its headcount with plans to establish a larger presence in international markets. As a result of the investment round, two representatives of Kennet Partners will join Jiminny’s board.
Tom Lavery, CEO and Founder, Jiminny said: “I’m delighted to announce details of today’s funding round which will further propel Jiminny’s growth and enable us to keep supporting and serving our customers to the high standards we set. Kennet’s investment is a resounding vote of confidence in a rapidly growing company and one of the fastest growing verticals in sales technology, despite current global economic headwinds.
Hillel Zidel, Managing Director, Kennet Partners said: “We believe that conversational intelligence is a long-term growth industry and view Jiminny’s value proposition as unique and potentially transformational. The company is a great example of the kind of founder-led, customer centric, capital-efficient business that we love to invest in. We are hugely excited to be partnering with Jiminny on the next stage of its development.”
What challenge it tackles?
Demand for conversation intelligence solutions has increased in recent years with more sales teams looking to utilise tools suited to hybrid working, scale up operations and professionalise sales team coaching. At the same time, senior business leaders are looking to use technology to upskill current sales teams against the backdrop of challenging job markets and narrowing budgets.
Jiminny was founded in Tom Lavery in 2016 in London. It is touted to be a leader in the rapidly growing conversation intelligence market for B2B teams.
The Jiminny platform gives the whole revenue team visibility of performance like never before and helps them to collaborate and coach to drive tangible improvements across the team. Sales teams use Jiminny’s AI platform to record and analyse new and existing customer conversations in real-time to know how and why they win and lose deals, and can use those insights to perform better, grow revenue and beat targets.