In the wave of digital sales and remote work, face-to-face sales teams seem to have been forgotten. However, Siro is breaking this deadlock. Recently, Siro announced the successful completion of a $50 million Series B funding round, led by SignalFire, with participation from 01Advisors, StepStone Group, as well as existing investors CRV, Fika Ventures, and Index Ventures. The funds raised will be used to accelerate product development and expand engineering, sales, and customer success teams.
Siro is an AI-driven conversational intelligence platform focused on face-to-face sales. With Siro’s mobile app, sales representatives can record their face-to-face sales conversations. The platform's AI technology transcribes and analyzes these recordings, extracting key insights, training opportunities, and revenue-driving actions. This means businesses will be able to gain clearer insights into what happens at the client's table, construction site, or showroom.
Sales teams using Siro report a 36% increase in closing rates, a 30% reduction in sales representative turnover, and a tenfold decrease in training cycles. Wayne Hu, Managing Director at SignalFire, said: "As an AI and data company, we are very interested in companies that are building industry-specific data moats. Siro is helping digitize the 'dark matter' of face-to-face sales, which has broad application potential across various industries."
Siro was founded in 2020 and has developed rapidly, currently serving hundreds of clients across multiple industries such as home improvement, medical aesthetics, and wholesale distribution. Jake Cronin, CEO of Siro and former top sales representative at Cutco who later worked at McKinsey, founded Siro with the goal of making face-to-face sales a path to financial freedom for more people. Cronin stated: "Sales changed my life trajectory, and this financing will help us build tools to help more people achieve the same goal."
With its AI-driven conversational intelligence technology, Siro is striving to revitalize the traditional face-to-face sales industry. By leveraging Siro, sales teams will be able to utilize information more efficiently, improve performance, and drive business growth.