Growbots raises $2.5M for its machine learning-based sales automation platform

Growbots raises $2.5M for its machine learning-based sales automation platform

Machine learning expanding exponentially

Growbots uses machine learning to provide sales teams with the right leads to kickstart their outbound sales process. The service, which argues that its product can save each member of a sales team a few days of work every month, today announced that it has raised a $2.5 million funding round from Buran VC, Lighter Capital and a number of angel investors. This brings the company’s total funding to $4.2 million.

Growbots’ service look at a company’s own CRM data to learn about its customers, extract data about them and adjusts its target lists accordingly. “Growbots’ AI algorithms will generate tailored contact lists for your team in minutes, run all of your outreach campaigns, optimize team/individual results, and manage their inboxes, so each person can focus entirely on talking to potential customers,” the company’s CEO and co-founder Greg Pietruszynski told us. Full Story

Eventually, instead of helping salespeople, such programs will completely replace them. Why would you need a salesperson when AI programs could negotiate with each other at a rate 100 times faster than any human could? For example, a company wants to buy widgets, and their price range is $0.90-$1.05 per widget, but the AI program is also told to not only focus on price but on a combination of price and quality; in other words, search for the best quality product at the lowest possible price.  Armed with this data it could reach out to a host of vendors all of which have AI-based programs handling their sales.  Within minutes this program could reach out to thousands of vendors worldwide and narrow the field down to a small group of vendors. After that, it could start the negotiation process and within hours find an outcome that probably would elude the most talented of humans. 

Machine learning and Moore’s Law

Given that Moore’s law is in still play and shows no signs of letting up; the number of transistors that can fit on a chip doubles each year.   Just look at what you can do today compared to 10 years ago and even five years ago. Computing power is expanding at such a rate that those who claim the job landscape and the overall landscape will not change due to AI are dreaming. The trend change is in effect, and it is a very strong trend change; based on previous patterns, such trend changes tend to last 25 years or longer. is already destroying the field of writers. It is just one of many AI programs that can create a full article in minutes. The articles are not perfect yet, but a few years ago such a concept would have seemed like Sci-Fi, and if you take a package of 100 articles, each article costs you only 99 cents an article. We had two writers test the package, and they both stated that its help they could write five times as fast. One user stated he could write ten articles with this AI at the same time it took him to write one if he did all the work. In other words, writers are using these programs to form the base of the article then they fine-tune the article. Imagine how sophisticated these programs will become in the years to come.  

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