Irish-headquartered software start-up Lative has raised $7.5 million (€6.4 million) in funding to further develop its artificial intelligence (AI) sales planning platform.
The company, which was established in 2022, specialises in sales performance, efficiency and planning. The funding will be used to support product development and its go-to-market function.
Cofounded by former Sage and Citrix operations leaders Werner Schmidt and Laura Tortosa Sancho, Lative unifies the sales planning process into a cloud-based platform. The technology helps companies get a greater understanding of their sales performance, cost efficiency and return on investment, and easily simulate future capacity and investment plans so companies can hire in the right areas of their business.
“We saw the same issue over and over again, in every company we worked in – sales planning was slow, manual, and stuck in spreadsheets,” said Mr Schmidt, Lative’s chief executive. “We built Lative to change that, and to give sales teams real-time visibility and confidence so every decision is informed, not guessed in this critical activity for go-to-market organisations. Every sales organisation needs to plan and track execution, and it’s mainly done in spreadsheets today. Now there’s a better way.”
READ MORE
The funding round was co-led by Act Venture Capital and Senovo VC, with Elkstone, Enterprise Ireland, WestWave Capital, Handshake Ventures and Shuttle also participating. Elkstone is a follow-on investor in the company, having supported previous fundraising including a seed round last year.
“New AI consumption models now need better tooling to manage complexity,” said Andrew O’Neill, principal at Act. “Werner, Laura, and their team are defining a new category with an exciting AI roadmap.”
Lative is capitalising on a sales performance management market that is projected to exceed $7 billion by 2030. Lative counts Version 1, Intercom, Seismic and Aiven among its customers.
