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Bao Solutions
Foundation Story
Germany-based Conversation Intelligence Startup
Receives One Million Euro for Further Expansion
September 21, 2020
After two years of bootstrapping the Munich startup, bao solutions has now finalized a seed round. Due to the positive development and well-known customers such as Barmenia and Personio, a seven-figure investment was made by renowned business angels.
Conversation Intelligence is currently the “next big thing” in the sales tech market. Due to systematic documentation and analysis of conversations, as well as the further processing of insights gained, software solutions help companies to have more successful business conversations.
bao solutions improves sales conversations in real-time, resulting in measurable success for companies. The basis are intelligent, interactive scripts. Sales organizations can learn from historical conversation data and thus consistently apply the most successful conversation tracks. In addition, bao creates transparency about success factors in the sales process, ergo companies can identify “good deals” and close them more efficiently
bao solutions improves sales conversations in real-time, resulting in measurable success for companies. The basis are intelligent, interactive scripts. Sales organizations can learn from historical conversation data and thus consistently apply the most successful conversation tracks. In addition, bao creates transparency about success factors in the sales process, ergo companies can identify “good deals” and close them more efficiently
bao solutions keeps its cool despite developments in the US
“Of course, we welcome the current developments in the US market and the resulting attention in Europe for the topic of Conversation Intelligence. There is so much potential for companies in this area” says Dr. Patrick Strunkmann-Meister, CEO of bao solutions.
The market is ready: For example, gong.io recently received 200 million USD in fresh capital lifting its valuation to about 2.2 billion USD – just 5 years after being founded.
Patrick-Strunkmann-Meister sees the opportunities in this: “In contrast to providers from the American market, we have a completely different approach. Instead of simply collecting large amounts of data by recording every single conversation, we focus on the direct application of what is being learnt during conversations – in real time. To do this, we rely on an expert vetted approach that enables structured learning and thus a steep learning curve within an organization. And of course, our approach consistently takes the European data protection regulation into account – keyword GDPR.”
The market is ready: For example, gong.io recently received 200 million USD in fresh capital lifting its valuation to about 2.2 billion USD – just 5 years after being founded.
Patrick-Strunkmann-Meister sees the opportunities in this: “In contrast to providers from the American market, we have a completely different approach. Instead of simply collecting large amounts of data by recording every single conversation, we focus on the direct application of what is being learnt during conversations – in real time. To do this, we rely on an expert vetted approach that enables structured learning and thus a steep learning curve within an organization. And of course, our approach consistently takes the European data protection regulation into account – keyword GDPR.”
Renowned business angels support further expansion
The team from bao solutions was able to get renowned and experienced investors on board. Among others, Alexander Bruehl (The SaaSgarage) as lead investor (seed investor also at Contentful, riskmethods, softgarden and Loyalty Prime), Michael Kofluk (former managing partner BCG and Sovendus), Rainer Hoffmann and Dr. Thomas Zachau
(founders h&z), Michael Ohr (startup mentor & coach UnternehmerTUM) and Dr. Philipp Waeltermann (PWI Ventures).
“The market is incredibly dynamic and the CRM boom was just the beginning. Conversation Intelligence is without any doubt “the next step” and bao solutions shines with its exceptional team and an on-point approach”, says Alexander Bruehl.
“The market is incredibly dynamic and the CRM boom was just the beginning. Conversation Intelligence is without any doubt “the next step” and bao solutions shines with its exceptional team and an on-point approach”, says Alexander Bruehl.