Funding Will Enhance Product Development and Expand Business Operations
Momentum, a customer intelligence startup founded in San Francisco in 2020, has secured $13 million in Series A funding. The funding round was led by FirstMark Capital, with participation from Stage 2 Capital, Basis Set Ventures, and Leadout Capital. The influx of capital aims to support engineering hires and expand the company’s staff to 60 employees over the next two years.
The startup’s platform leverages AI to capture and analyze sales and customer calls, transforming this data into actionable business insights. By integrating with existing tech stacks, Momentum extracts raw data from applications such as Gongio, Clari, Zoom, and Google Meet. The AI processes the data, stores the structured information in Salesforce, and presents it in Slack, making it easy for revenue operations to implement and roll out.
Momentum’s platform seeks to address the need for streamlined operations and efficient revenue growth. It captures customer intelligence automatically through call recordings, emails, and Slack, turning data into insights to predict and prevent customer churn, alert revenue leaders of forecast risks, and automate routine tasks. This system helps uncover blind spots and optimize operations, enabling customer-facing teams to move faster and make more informed decisions.
“Until two years ago, you had to trust people to listen to the calls, paying sales reps to get on calls and make notes, but there’s a big appetite to tap into the data,” said Santiago Suarez Ordoñez, co-founder and CEO of Momentum. He emphasized that large language AI models were “the perfect solution, giving a fresh new look leveraging this old but useful dataset.”
Momentum’s clients include Ramp, a fintech startup valued at $7.6 billion earlier this year. The new funding will bolster the development of Momentum’s AI-driven platform and support the company’s efforts to build larger datasets and enhance its product offerings.
“Investors are interested in new uses of AI; this was a long process that took real due diligence because the market is tighter at Series A, but the whole round took two months to put together,” Ordoñez noted. The company aims to provide revenue leaders with insights that were previously unattainable, helping them make better, smarter decisions.
FirstMark Capital founder Amish Jani and Stage 2 Capital general partner Mandy Cole will join Momentum’s board of directors, bringing their expertise to guide the company’s growth. Ordoñez stated that the company’s platform is uncovering insights for revenue leaders that they only dreamt of before, aiding Chief Revenue Officers (CROs) in making more informed decisions.
Momentum is poised to enhance its AI-driven platform further, addressing the growing demand for efficient revenue growth and reducing customer churn. By continuing to innovate and integrate advanced AI technologies, Momentum aims to solidify its position as a leader in the customer intelligence space.
