Vertex US invests in CloseFactor to put account research on autopilot for go-to-market teams
You’ve just received your account list, and it is time to start hunting. Well, it’s almost time to start hunting. First, you must prioritize which customers are buying what you’re selling. The arbitrary account scores invented by the data science team don’t reveal much. This customer is 82 out of 100… based on what?
Customer demographics like industry, size, and location aren’t useful signals either. The solution? Old-fashioned account research: job listings, earnings transcripts, blog posts, conference appearances, LinkedIn profiles, tech stacks, and more. By studying your prospect accounts’ online information exhausts, you reveal which accounts to prioritize. This process takes hours but is a necessary grind — exceeding your quota ain’t free.
This is a familiar story to most salespeople. Account research is one of those tedious tasks that never feels complete but helps salespeople spend their time on the highest potential accounts if done effectively. May salespeople ring the gong because account research is finally automated, thanks to CloseFactor.
CloseFactor identifies the companies that are buying whatever you’re selling and which people inside those companies are the right ones to target. CloseFactor is like having a personal research team working behind the scenes to parse the buying signals across target accounts lists and reveal the best people to contact within those accounts. Except this research team is machine learning algorithms that automate this process end-to-end.
Today, we’re excited to announce Vertex Ventures US is leading a $15M Series A investment in CloseFactor alongside Sequoia Capital with participation from GTMFund and Neythri Futures Fund. CloseFactor was founded by technology veteran Leena Joshi and repeat founders Ben Cheung and Erik Buchanan. We couldn’t be more excited to support them on this journey!