South African sales tech app Skynamo secures $30 million
Leading US software investor, Five Elms Capital, is investing US$30 million in Skynamo, a South African field sales app and management platform provider that's on a mission to help manufacturers, wholesalers and distributors eliminate sales admin, strengthen customer relationships, and sell more.
Skynamo, whose field sales mobile app and cloud-based management platform is used by more than 6500 users at 650 companies, will use this investment to accelerate adoption of its platform, while scaling up operations to improve service to its rapidly growing customer base in the US, UK and Southern Africa.
Why investment in Skynamo?
A leading US investor in fast-growing B2B software businesses that users love, Five Elms Capital has backed Skynamo because “we are convinced it has the perfect combination of strong value proposition and a relentless culture of delighting both customers and employees to become the leader in field sales technology”, says Fred Coulson, Managing Partner of Five Elms.
The field sales industry is in a state of disruption, with both businesses and field sales professionals needing to adopt new technologies if they are to survive the digital shift. And that's where Skynamo comes in, helping field sales teams become more knowledgeable by providing quick and accurate answers while onsite with customers.
This investment follows Five Elms Capital’s recent investments in remote video tech firm OpenReel (US$19 million), practice management software developer Karbon (US$10 million) and Colombian customer monitoring startup Playvox (US$25 million).
How exactly does Skyname facilitate business?
Skynamo increases sales rep productivity and effectiveness by digitising paper-based processes, automating administrative tasks, and enabling easy access to customer and product information in the field. GPS technology provides managers with a real-time view of sales activity and sales rep effectiveness in the field, so they can coach their reps remotely. Field sales teams using Skynamo typically double – and in some cases triple – the number of customers they visit per week and increase revenue by up to 20% in the first year.
Skynamo integrates with ERP and accounting software such as Sage, Acumatica, SAP, Xero and Quickbooks to provide field sales reps with the latest product and customer information and order history while on the road or onsite at a customer. Skynamo’s integration capability streamlines the ordering process and improves order accuracy, order fulfilment and time to invoice for field sales teams on the road.
Unlike other CRM and sales automation applications, Skynamo is a mobile-first application designed to provide a better end-user experience for mobile users. Mobile-first design ensures data entry is easier – improving the volume and quality of data collected in the field. Offline capability enables users to continue working on their mobile devices even without internet access.
“Field sales reps have been left out in the cold by the technology industry for far too long,” says Sam Clarke, CEO of Skynamo. “By putting all time-saving functionality and accurate information in the palm of their hands via our mobile app, Skynamo transforms sales teams from order-takers to value-adding consultants to their customers.”
Five Elms Capital upping investment ante
Focused on investing in fast-growing B2B software businesses that users, Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. To date, with US$700-plus million assets under management and a global team of 50+ professionals, Five Elms has invested in more than 40 software platforms globally Hubbs, an event management solutions provider; Userlane, a provider of digital adoption solutions; and SingleOps, a provider of field services solutions for the green industry.