Orum Secures $25M Funding in Series A Funding Led by Craft Ventures
Martech Outlook | Tuesday, August 17, 2021
Orum has carved out a unique position in the next-generation sales stack, collaborating with Outreach, Salesloft, and Gong to operate as an activity engine, driving success and volume across these platforms.
FREMONT, CA: Orum, a sales acceleration platform that centers on live conversations, raised 25 million dollars in Series A funding led by Craft Ventures. Orum has carved out a unique position in the next-generation sales stack, collaborating with Outreach, Salesloft, and Gong to operate as an activity engine, driving success and volume across these platforms. Since its beginning in 2018, the company has raised a total of 29 million dollars in investment. David Sacks will join the board of directors of the corporation.
“Live conversation is the cornerstone of sales development. Companies are forced to hire dozens of sales reps to create the activity required to hit their pipeline goals, but with a <5% pick-up rate, these entry-level sales roles are miserable and ineffective,” said Jason Dorfman, Co-founder and CEO, Orum. “As more customers digitize their sales process, the need to go beyond platforms that just track and manage employees to software that augments rep activity is the future.”
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Orum’s sales teams rely on the platform to meet aggressive growth targets while improving the quality of their client interactions. Before Orum, businesses had to manually contact customers or use clumsy auto-dialing solutions, which resulted in a negative experience for both the client and the end recipient. Orum delivers the most scalable solution for inside sales professionals to communicate with consumers over the phone by leveraging AI to do the legwork of actually getting in touch with a prospect and integrating with sales engagement tools to assist reps in preparing for the conversation. Orum is part of a bigger trend in which enterprise software does more than merely automate back-office procedures; it also completes complex jobs that save time.
“I was blown away by the product demo. I could not believe that something like this actually existed, and thought back to how much more effective our sales teams would have been at Reddit and Twitter if we had Orum,” said Bryan Rosenblatt, Partner at Craft Ventures. “We were also very impressed with the team’s talent across sales and engineering, furthering our conviction that Orum will become a fundamental tool in the emerging sales acceleration market.”
Since raising its seed round in 2020, Orum has seen a 290 percent growth in enterprise customers and a 380 percent increase in yearly recurring income. During the seed stage, Orum focused heavily on customer success and product, offering a free version of the technology and the ability to automatically navigate dial-by-name directories, which can be a time-consuming and frustrating aspect of a sales rep’s day.
“In previous sales roles, I had the opportunity to evaluate and purchase all of the latest, greatest and established tech that was out there, but most tools were focused on managing and tracking people that did the work, rather than actually doing the work for them and making their jobs easier,” Dorfman continued. “This is the inspiration that led us to automate outbound calling as a first entry into the market.”
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