RepIQ, a Chicago, IL-based AI-powered sales intelligence platform, raised $1.1M in seed funding.
Backers included Pritzker Group Venture Capital, Amicus Capital, Arba, Hyde Park Angels, Tao Huang (Former COO of Morningstar), Jeremie Bacon (CEO of Synap) and Kadir Rathnavelu (Amazon Executive).
The company intends to use the funds to continue to develop the platform.
Formed in March 2016 by former Google executive Shawn Carpenter and former Amazon executive Jonathan Suchland, RepIQ provides a sales intelligence technology platform for salespeople to discover the best customers for their business. Its AI-powered database uses machine-learning to suggest the best prospects to sell to increase all-commodity volume, shorten the sales cycle, and generate higher revenues.
Last month, over 2,000 users accessed RepIQ’s private beta. It processes nearly 2,300 data points per second, allowing users to pinpoint thousands of high-quality leads.