Vilnius-based Evergrowth, an AI-powered B2B sales platform, announced that it has secured $2.2M (approximately €2M) in its first funding round, marking one of the Baltic’s largest pre-seed investments.
Impellent Ventures and Practica Capital lead the round, showcasing Baltic SaaS startup impact. Evergrowth aims for $500K ARR within three months post-MVP launch.
“Close more revenue with AI-enabled sales team”
Co-founded by JB Daguené, Mantas Urnieza, Tadas Cekavicius, Aivaras Rastenis, and Algimantas Padegimas, Evergrowth leverages customer-centric sales frameworks that adapt in real-time.
These frameworks, from their experience supporting high-growth revenue teams during their five-year consulting business, generated millions in revenue.
JB Daguené says, “2020-2022 was fueled by free money and a ‘grow at all costs’ mentality, and sadly, this drove many sales teams to scale in the wrong direction.”
“Companies chose to mass-hire salespeople and double down on tools to make them more efficient instead of enabling them with customer-centric frameworks to help them understand their ideal customers’ needs.”
“After a year of ‘hard resetting’ in 2023, where we saw a return to a ‘back-to-basics’ mentality, we predict that in 2024, sales professionals will be expected to do more with less.”
“The solution to finding new ways to perform and create meaningful conversations with prospects is harnessing AI-enabled account-based framework to enable sales teams with super granular machine-powered research based on ICPs and personas definition.”
In 2023, JB Daguené experimented with integrating OpenAI into existing processes and templates. Recognising the potent synergy between AI and his established go-to-market strategies, clients achieved greater effectiveness and efficiency while saving both time and money.
This success prompted the decision to close the consultancy business and fully commit to developing a scalable SaaS solution.
Peter Holten Mühlmann, Angel Investor in Evergrowth and the Founder/Former CEO of Trustpilot, says, “From the early days at Trustpilot, JB’s strategic approach to sales—securing six hundred customers in just two years—demonstrated the effectiveness of his system and framework.”
“Now, with the introduction of AI into Evergrowth’s methodology, JB, alongside his co-founders, is poised to transform account-based selling. This evolution resonates with my belief in the importance of a sales-led strategy for SaaS enterprises.”
“Our shared dedication to elevating the sales profession through innovative AI applications in the B2B space is a key reason for my investment in Evergrowth. I’m enthusiastic about supporting a mission that aligns with my passion for sales excellence and promises to elevate the sales profession and redefine enterprise revenue leadership with advanced AI technology.”
Capital utilisation
Mantas Urnieza, Evergrowth’s CTO, says, “This funding helps us continue to expand from a scrappy MVP that rapidly got traction within several months.”
“The strong interest shown in our solution speaks volumes about its performance and potential. We will use this funding to scale the platform as fast as possible to meet growing demand.”
Evergrowth is also expanding its global presence by establishing its first US office in New York City. Simultaneously, the company is growing its platform sales and engineering teams to meet the increasing demand.
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