Heresy Raises €858K in a Round Led by LAUNCHub Ventures
July 14, 2017
The LAUNCHub Ventures-backed Heresy raised €858K in seed funding for its sales workflow and analytics platform.
The round was led by LHV, with investments from AngelList, Seedcamp, and the London Co-Investment Fund.
Founded in 2016 by the former European MD at Stack Overflow, Dimitar Stanimiroff, Heresy is an analytics and workflow management platform that helps salespeople stay on top of their pipeline.
Leveraging intelligent analytics and impactful visualisations, Heresy can warn salespeople about deals that are likely to slip. The platform helps businesses make data-driven decisions, while allowing their sales teams to always stay in sync.
Heresy differentiates from conventional sales software, which is often un-intuitive and admin-heavy.
More, the platform analyses existing workflows and recommends strategies for improved performance, based on the deal size, probability of closing, and time spent during each stages of the sales pipeline.
According to Stan Sirakov, the LAUNCHub Partner looking after Heresy, the team is uniquely suited to improve the effectiveness of sales teams:
"Dimitar became painstakingly aware of the need for Heresy during his time at Stack Overflow. He had to build sales teams and strategies from scratch. Dimitar implemented the agile philosophy, typical for development processes, into workflow management for teams."
Commenting further, Heresy co-founder Dimitar, explained the thought process that led him to found his startup:
"I had been experimenting with the idea of applying Agile software development tools and best practices in Sales for a few years. In 2013 we built an internal tool based on that methodology. This is how Stack Overflow scaled its global sales team from about 20 reps at the time to 120+ people and how we developed the idea for Heresy."
The new investment will be used to further develop the product, as well as to expand the startup's operations across Europe. Seedcamp partner, Carlos Espinal, commented on the deal:
"We are passionate about backing experienced founders working on problems they’ve encountered first-hand and that’s most certainly the case with Dimitar and Heresy. Dimitar’s capabilities, both as a founder and an operator, are more than proven and we are excited to see Heresy address a stale market in desperate need of innovation."