Jiminny, a UK headquartered conversation intelligence provider supporting sales teams across the world, has closed a $16.5 million series A funding round. The round was led by Kennet Partners, a transatlantic growth equity firm, adding to its targeted portfolio of technology growth stage investments.
Sales teams use Jiminny’s platform to record and analyse new and existing customer conversations in real-time. These insights are used by the business to improve performance and ultimately drive revenue and growth. A range of organisations, from FTSE 100 constituent Informa to Europe’s leading expense management solution, Pleo, are using the platform. Jiminny is a market leader in the rapidly growing conversation intelligence market for B2B teams. Demand for conversation intelligence solutions has increased in recent years with more sales teams looking to utilise tools suited to hybrid working, scale up operations and professionalise sales team coaching. In parallel, senior business leaders are looking to use technology to upskill current sales teams against the backdrop of challenging job markets and narrowing budgets.
The funding round will accelerate Jiminny’s recruitment, including its expansion in international markets, and ambitious product development plans. The company will double its R&D budget to continue driving innovation in the nascent conversation intelligence market. Key areas marked for development include solutions to analyse emotion in video, automated scoring of call interactions and real time insights generated from live transcriptions to drive true visibility of performance.
Tom Lavery, CEO and Founder, Jiminny said:
“I’m delighted to announce details of today’s funding round which will further propel Jiminny’s growth and enable us to keep supporting and serving our customers to the high standards we set.
“The pandemic saw a big uptick of interest in solutions that draw insights and analytics from customer conversations to enhance the productivity and internal cultures of hybrid sales teams. Our platform gives the whole revenue team visibility of performance like never before and helps them to collaborate and coach to drive tangible improvements across the team.
“Kennet’s investment is a resounding vote of confidence in a rapidly growing company and one of the fastest growing verticals in sales technology, despite current global economic headwinds.”
Hillel Zidel, Managing Director, Kennet Partners said:
“We believe that conversational intelligence is a long term growth industry and view Jiminny’s value proposition as unique and potentially transformational. The company is a great example of the kind of founder-led, customer centric, capital efficient business that we love to invest in”
“We are hugely excited to be partnering with Jiminny on the next stage of its development.”
Jiminny currently employs 60+ people split across London, UK and Sofia, Bulgaria. Post investment round, the company is aiming to add a further 60+ people to its headcount with plans to establish a larger presence in international markets.