Kul Bhushan · · 1 min readSequoia-backed sales engagement firm nets $22m in series C round
Vymo, a sales engagement platform for financial institutions, has raised US$22 million in a series C funding round led by Bertelsmann India Investments (BII). Existing investors Emergence Capital and Sequoia Capital also participated in the round.
Vymo co-founder Yamini Bhat / Photo credit: Vymo
Vymo added that BII partner Rohit Sood will join its board as part of the financing.
The startup previously raised US$18 million in a series B round led by Emergence Capital in August 2019. Sequoia Capital India also participated in the round.
Vymo’s solutions help financial institutions acquire new clients and increase customer engagement and lead conversions. It works with more than 65 global financial institutions, including Berkshire Hathaway and HDFC Bank. The San Francisco-headquartered firm also has offices in India, Japan, and Singapore.
The company disclosed that it recorded over 20% quarterly growth and 142% net revenue retention in 2021. With its users spending 60 minutes per day on its platform, Vymo said that engagement is higher than Slack’s or Instagram’s. More than 75% of its 250,000 users across over eight countries use its platform daily.
Vymo was founded in 2013 by ex-McKinsey engagement manager Yamini Bhat and former Google software engineer Venkat Malladi.
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Editing by Collin Furtado and Lorenzo Kyle Subido
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