Provarity Secures $7 Million in Seed Funding to Transform Presales Enablement

SACRAMENTO, Calif. - Dec. 9, 2024 - PRLog -- Provarity, a sales enablement platform focused on presales optimization, has announced a $7 million seed funding round. The investment was led by Cheyenne Ventures, with participation from Crosslink Capital, Illuminate Ventures, and Rembrandt Venture Partners. This latest funding brings Provarity's total raised to $12 million, including $5 million from earlier rounds.

Over the past five years, Provarity has unlocked a goldmine of presales data, zeroing in on the proof-of-concept (POC) stage to uncover what drives a deal's success. Armed with this knowledge, Provarity has leveraged AI to expand its platform's capabilities far beyond POC tracking.

The platform is revolutionizing the sales landscape by finally bridging pre-to-post sales, giving presales leadership a seat at the table while delivering groundbreaking insights into sales engineering (SE) performance. Using Provarity, the prospect's data is efficiently passed on to the post-sale delivery team, ensuring a smooth start and a solid foundation for building new customer relationships. Provarity is setting the standard for efficiency using real-time insights, streamlined workflows, and enhanced collaboration. Bottom line -  Provarity is transforming how sales and post-sales delivery teams ensure customer success.

The newly secured funding will fuel Provarity's go-to-market (GTM) initiatives, enabling the company to reach more teams tackling the challenges of complex sales cycles and customer engagement. Provarity's AI-powered features, like WinScore™ - which evaluates risks, deal health, and product gaps - are designed to accelerate sales cycles, boost ROI, and empower better decision-making.

"Provarity solved the most complex and expensive challenge in the enterprise presales process - the evaluation," said Rapid7. "The ability to enforce consistent workflows and provide visibility delivers immediate ROI."

"During my 20 year tenure at Xactly, I was always frustrated that there was no purpose-built software to provide a repeatable approach to properly manage the POC process," said Chris Cabrera, CEO of Provarity. "Our leadership had no visibility into the various technical evaluations in order to forecast if and when the technical evaluation would close. We did not have a system to track or assess the underlying causes of our successes and failures. Provarity was built to address these challenges and bring clarity to presales teams."

Gregory Eaton, Managing Director at Cheyenne Ventures, highlighted the platform's impact: "Provarity addresses a critical gap in the market. By delivering real-time insights and fostering team collaboration, they empower organizations to elevate their presales processes. When we saw their product's tangible results, it was clear this was a company we wanted to support. With Chris Cabrera at the helm, we're confident in their ability to lead this transformation."