Evergrowth kills its sales consultancy business, raises $2.2m to claim the account-based selling software category

Evergrowth, the AI-powered B2B account-based sales platform, announced its first fundraise of $2.2 million, making it one of the largest pre-seed rounds in Baltic history. The investment, led by Impellent Ventures and Practica Capital, demonstrates the rising influence of Baltic European SaaS startups and the need for fully optimized AI-driven strategies to enable sales and revenue teams. The company is already on track to hit $500K ARR within three months of its MVP launch.

The platform’s customer-centric sales frameworks are a spin-off of years helping some of the fastest growing revenue teams through a prior consulting business, which had a five-year tenure and generated millions. In 2023, Co-founder JB Daguené began toying with OpenAI to see how it could be implemented into existing processes and templates and found that the marriage of AI and his previously proven go-to-market strategies allowed his clients to do much more effective and efficient work, with less money and time spent. This ultimately led to closing the consultancy business and going all-in on a scalable SaaS solution. Sales teams now use Evergrowth’s AI-driven platform to gather account-based granular insights like intent-based signals that trigger meaningful engagement with prospects, ultimately leading to more revenue with fewer resources. Prior to the release of this innovative technology, doing such deep research on individual accounts and their contacts took days. Companies can now utilize Evergrowth to gain even richer insights and results within minutes.

Evergrowth’s approach aims to eliminate some of the most common challenges in B2B sales, such as non-personalized, irrelevant outreach and the misalignment between sales and marketing teams, offering a more targeted and adaptive strategy fit for the Digital Age. By leveraging AI, Evergrowth enables sales teams to identify the right company and persona while crafting the perfect message in minutes rather than hours or days, enhancing the efficiency and effectiveness of sales outreach. Their customizable workflow generation feature harnesses LLM technologies to create dynamic customer-centric sales frameworks that adapt in real time. This workflow, informed by evolving market conditions, customer preferences, and organizational objectives, guides sales teams through every cycle and seamlessly integrates with their existing sales playbooks.

JB Daguené, CEO and Co-founder, Evergrowth: ''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.''

Evergrowth’s $2.2 million raise is notable not only in terms of capital but also demonstrates a much more significant indication of the rise and interest in Lithuanian-based startups. The country has a thriving technology ecosystem with companies spanning various sectors, and its supportive environment for innovation and technology has contributed to Vilnius becoming known as a hub for fintech and cybersecurity startups. The Baltic states have also been branded as a “unicorn factory,” producing some of the most well-known tech businesses like Vinted, NordVPN, Skype, and Bolt.

Phil Beauregard, Partner, Impellent Ventures: ''Impellent has had a lot of inbound on the AI Sales Enablement side since OpenAI burst on to the scene - and we've been sitting on the sidelines due to a lack of conviction around differentiation of product and team. We were especially excited when we found Evergrowth in Lithuania, a dynamic founding team rife with product, go-to-market-chops, and major sales DNA that spans decades of experience implementing customer-centric sales strategies. The level of experience and expertise that each co-founder brings to the table in their respective domains left us convinced that this was the ‘dream team’ to create the future of AI sales. When we had the chance to lead this investment in a country we are coming to love and respect alongside a perennial stalwart like Practica Capital, we jumped at the opportunity.''

www.evergrowth.com