New Zomentum Funding to Directly Benefit MSPs, SMBs

Zomentum just got $13 million in funding that will allow it to accelerate its MSP sales platform.

The India-based company secured the funding from Elevation Capital, Accel and Greenoaks Capital. The Zomentum funding round also included participation from Eight Roads Ventures.

Zomentum’s IT sales acceleration platform helps IT channel partners and allows SMBs to leverage IT solutions.

Shruti Ghatge is Zomentum‘s CEO and founder.

Zomentum’s Shruti Ghatge

“The series A funding puts Zomentum on a fast track toward realizing our mission of fueling the $600 billion IT spend of the world’s SMBs,” she said. “Zomentum takes advantage of the opportunity presented by the increasingly expanding IT service economy with the world’s first IT sales acceleration platform. Our platform allows IT channel partners to close deals two times faster and upsell six times their standard deal value consistently with a higher win-rate. In short, Zomentum creates growth momentum.”

Zomentum is a 100% channel-only company and “everything we do is in service to our partners,” Ghatge said.

Big Plans for Funding

“It’s hard to describe how thrilled I am about what this funding will enable us to do,” Ghatge said. “These resources will allow us to solve problems MSPs face every day and make their lives easier.”

Zomentum is focusing on improving and growing all business areas. Furthermore, it’s diving deeper into three places: partner support and success, product development, and education and community initiatives.

“Our goal is to make our support team even more responsive and valuable to you,” Ghatge said “We are focusing on building our knowledge base and doubling the current team’s size to get you a faster response. Our team stands ready to assist on par with all needs as we move forward.” 

Zomentum‘s product and engineering teams are committed to improving the platform and bringing more value to its partners, she said. With the funding, the company can produce features more quickly, expand integrations and provide usability.

“You will see us take hold of developing a robust and engaging community this year,” Ghatge said. “Many of our partners want to know how their peers use Zomentum and share their experiences, tips and best practices with others. Partners have also been asking for specific education programs and thought leadership around sales. And we are planning to deliver. Get pumped for what you are about to see.”

Smarter Insights and Decisions

Channel partners using Zomentum will soon be able to mine insights and make smart business decisions, Ghatge said.

“As the world’s first IT sales acceleration platform exclusively built for the channel, partners can leverage a robust set of features to automate and strengthen their sales processes, save time and significantly boost new revenue opportunities,” she said.

Zomentum already fuels more than $100 million in IT transactions, Ghatge said.

“The software is ready to augment IT sales further using data science and [machine learning],” she said. “The goal is to empower channel partners with enough data and turning IT sales into a game of chess and strategy instead of a game of darts where sales conversions are a hit or a miss. By building a highly value-driven and informative IT sales academy, Zomentum aims to engage the partner community and be the one place they go-to for everything related to MSP sales.”