Momentum, the customer intelligence platform that enables enterprise listening and automation from the US, has raised $13 million in Series A funding. It brings the total funding raised by the company to $18 million.
Investment details
The round was led by FirstMark Capital (which invested Ezra and Pigment) with participation from Stage 2 Capital. Existing Momentum investors, including Basis Set Ventures and Leadout Capital, also participated in the round.
Amish Jani, FirstMark Founder and Partner, joins the board alongside Mandy Cole, General Partner at Stage 2.
With this latest round of funding, Momentum plans to accelerate product development to further innovate for enterprise revenue teams and drive additional business expansion.
“In a world where companies are adding AI to their product so they can check a box, Momentum has built transformative AI capabilities that have shown up in tremendous customer love. We heard from their customers, many in our portfolio, who are thrilled by the process automation and actionable insights Momentum enables,” said Amish Jani, Founder and Managing Partner at FirstMark Capital. “We’re excited to be an investor, and I’m personally looking forward to joining the board and working alongside Santi, Ashley, and Moiz to realise their vision.”
Mandy Cole, General Partner at Stage 2 Capital and former LivingSocial and Zenefits sales leader, added, “I wish Momentum existed when I was a sales leader. I just think about how much more my teams could have sold with the time savings and the better decisions I would have made with more insight into our deal pipeline and customer sentiment. I couldn’t be happier to partner with such a talented team to bring the power of a customer intelligence platform to more companies.”
What change does it bring?
Gone are the days focused on the number of deals and raw revenue. Today, they’re tasked with increasing revenue per rep and decreasing churn. Revenue leaders are being asked to streamline their operations and find ways to grow revenue efficiently.
Founded by Santiago Suarez Ordoñez, Ashley Wilson, and Moiz Virani in 2020, Momentum enables companies to automatically capture customer intelligence via call recordings, emails, and Slack and then turn that data into actionable insights to predict and prevent customer churn, alert revenue leaders of forecast risk, streamline processes, and automate routine tasks.
Its AI-powered platform uncovers blind spots and optimises operations so customer-facing teams can move faster and wiser. Seamlessly integrating with existing tools, Momentum leverages AI and automation to extract and synthesise data at scale without adding a new platform for reps to log into.
Momentum increased annual recurring revenue (ARR) by more than 400%, adding companies like Ramp, 1Password, Alation, and Demandbase to its already impressive customer base, including Zscaler and Postman.
“Momentum is uncovering insights for revenue leaders that they only dreamt of before. We’re helping CROs make better, smarter decisions,” said Santiago Suarez Ordoñez, Co-founder and CEO at Momentum. “The traction and incredible retention we’re seeing can only come from driving real impact for our customers, and what makes me most excited is that we’ve just uncovered the tip of what’s possible.”
New features from Momentum
Momentum has released several new features in recent months, including Custom Summaries, a first-to-market feature. Sales and customer success teams can now refine their call summaries and notes with their own prompts, ensuring every detail aligns with what matters most to their business. Since the beginning of the year, the team at Momentum has launched Contact Automation, Automatic Churn Detection, and native integrations with Salesoft and Chorus by ZoomInfo.
What do we think about Momentum?
Momentum is demonstrating strong potential in the customer intelligence space. Its AI capabilities and automation are highly valued by customers, driving significant revenue growth and retention.
By integrating seamlessly with existing tools and focusing on actionable insights, Momentum is addressing critical pain points for revenue teams. With impressive client acquisitions and substantial ARR growth, the company is well-positioned for continued success and industry leadership.
