Sales tech start-up Bao raises 2.5 million euros
Around half of the money comes from Amsterdam-based VC Peak, the other half from BayBG and business angels. Bao has thus raised a total of 3.5 million euros to date.
The AI start-up Bao from Munich has raised 2.5 million euros in an investment round. The VC Peak from Amsterdam and with a branch office in Berlin provided 1.45 million euros, while the remaining 1.05 million euros came from BayBG and business angels such as Alexander Bruehl from SaaS Garage and Rainer Hoffmann from h&z Unternehmensberatung.
Bao offers a technology designed to make sales conversations measurable. The software guides salespeople through their conversations in an orderly fashion, adapts in real time to the progress and content to date and provides instructions for the further development of the conversation. "Of course, there will always be natural talent in sales, but this new type of sales SaaS, such as Bao software, will enable companies to scale their commercial efforts faster and more efficiently," says Johan van Mil, Co-Founder and Managing Partner of Peak. Among other things, Bao uses AI to analyze previous sales conversations. The start-up promises a 20 percent higher success rate in closing a deal.
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