附近上门

has closed on $3.5 million in seed funding led by to solve what it has dubbed 鈥渢he last mile problem鈥� between sales and marketing departments.

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and also participated in the financing, which brings Kronologic鈥檚 total raised since its 2018 inception to about $4.5 million.

Kronologic describes its platform as 鈥渢he world鈥檚 first calendar monetization engine鈥� which 鈥渄elivers the absolute best experience for parties working to schedule a virtual meeting.鈥� Or, in other words, the company has created a SaaS-based platform that converts sales leads into meetings.

In a short amount of time, Austin-based Kronologic has built some impressive momentum. Customers include tech giant Dell, Thomson Reuters, Gartner, Storable and BigCommerce.

From the second quarter of 2019 to the fourth quarter of 2019, Kronologic says it saw annual recurring revenue on average growth of 260 percent, according to co-founder and CEO .

Optimizing for success

Allison said he and one of Kronologic鈥檚 co-founders, , came up with the idea from their experience at The pair left their roles at the company to launch Kronologic and focus on building out the technology full-time.聽(Kronologic was actually incorporated in 2016 but formally launched in 2018).

鈥淣inety percent of a company鈥檚 leads never convert to meetings and are simply a lost investment,鈥� Allison told 附近上门 News. 鈥淥nly a small percentage actually turn into opportunities. The efficiency loss is nuts.鈥�

Many companies in recent years have tried to solve this problem by just hiring more salespeople. But Kronologic has set out to quantify the process.

The startup鈥檚 platform uses artificial intelligence to automate the process of lead conversion, thus cutting down on the need for cold calling or spamming prospects, Allison said. It does this specifically by automating types of virtual meetings common in revenue-focused departments. The company claims to 鈥渙ptimize time itself鈥� by making the calendar a platform for monetization and optimization for client-facing employees

The company鈥檚 active scheduling technology requires 鈥渙nly a single-click for prospects and zero thought whatsoever from reps.鈥�

鈥淭he idea is that a robot does the lift for both sales and prospects, and does the scheduling automatically,鈥� Allison added.

鈥淜ronologic doesn鈥檛 tell you what to do or make suggestions. It actually does the work for you,鈥� added Parker.

In addition to booking meetings, Kronologic鈥檚 trademarked 鈥淢eeting Math鈥� calculates the value of different meetings and 鈥渙ptimizes the total value across a team鈥檚 calendar.鈥�

Investor POV

As part of the investment, Silverton Partners鈥� joins Kronologic鈥檚 board. What really piqued his interest was that Kronologic had developed a solution with 鈥渁 surprising simplicity to the user experience.

鈥淎nd yet what supported it behind the scenes was surprisingly complex,鈥� he told 附近上门 News.

What makes Kronologic different from other offerings in the sales enablement space is that it helps client companies actually rethink how a salesperson makes use of their time, according to Chen. The startup then considers it in the context of the salesperson鈥檚 team and the broader sales and marketing strategy rather than simply 鈥渨orking out a way to incrementally improve sales conversions.鈥�

The nine-person company plans to use its new capital primarily to hire more engineering talent and to scale its sales and marketing teams.

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