The funding will accelerate Budy’s AI development, focusing on tasks such as optimising Salesforce setups and improving sales pipeline efficiency | Photo: X@rtpvc
Venture capital firm RTP Global has led a $4.2 million pre-seed funding round in Budy, an artificial intelligence (AI)-driven startup aimed at simplifying sales and marketing software deployment for enterprises. The investment also attracted backing from executives at Postman and Pure Storage.
The startup aims to address a common pain point for enterprises—too many software tools creating operational inefficiencies. Budy’s AI solutions seek to reverse this by improving how existing software is used rather than layering on new systems.
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Budy’s mission stems from founder Samay Kohli’s previous experiences. “This is my second startup. The previous company scaled up to about $100 million, and as it grew, I found that at each stage we needed to implement new sales and marketing software to accelerate our growth. But what I realised was that every time we introduced a new sales and marketing tool, it made things tougher and more complex.”
From RTP Global’s perspective, Budy addresses a large, horizontal problem-solving opportunity that cuts across industries. “It’s a significant problem statement. Anyone using these marketing and CRM software solutions faces these issues, and the complexities just keep increasing,” said Nishit Garg, partner, RTP Global.
Budy is among the first investments from the venture capital firm’s billion-dollar fund. “We are still early in our fund deployment cycle. It will probably take another two and a half years to deploy this fully,” said Garg.
The funding will accelerate Budy’s AI development, focusing on tasks such as optimising Salesforce setups and improving sales pipeline efficiency. Budy aims to cater to high-growth companies with revenues between $25 million and $200 million, offering them a way to scale faster without added technology-related complexities. “We are currently working with three customers and looking to add one or two more,” said Kohli.
Budy’s AI agent aims to reduce operational inefficiencies by handling many of the mundane tasks involved in setting up and cleaning software instances. “This allows companies to concentrate on improving their processes rather than complicating them,” said Kohli. By automating processes typically handled by developers, Budy reduces the time it takes to implement sales and marketing software, he added.
First Published: Oct 16 2024 | 12:28 PM IST
