DemoChimp raises $4.2M Series A, rebrands as Consensus
By Jordan Phelps
DemoChimp, a B2B demo automation software founded in 2013, announced today that it has rebranded as Consensus. As part of this rebranding, Consensus has closed a $4.2 million Series A round led by Peak Ventures with participation from CEB and super angel Nobutaka Mutaguchi. The rebrand will help solidify the company’s mission to provide automated stakeholder engagement and analytics tools to address group buying dysfunction and drive the closure of sales according to a company statement.
“DemoChimp has been such a fantastic brand name for where we were when we started…” said CEO and founder Garin Hess. “Since that time our vision and our solutions and everything have just grown tremendously…We just have a bigger vision now, a bigger direction, we’re targeting larger companies and really solving bigger problems so we just needed a bigger brand.”
Consensus allows sales and marketing professionals to create interactive customized demo videos for potential buyers who then rate each section of the video according to their interests. They also offer a Demolytics dashboard that shows the sales and marketing agents when a buyer watches the video, what segments most appealed to them, and who they shared it with so tailored pitches can be made to them.
The focus of the platform and the company is to drive agreement in the B2B buying group help buying groups buy rather than selling groups sell, which drives close rates and shortens the sales cycle said Hess. Consensus and the services the company offers helps the methodology and technology that sales and marketing departments use to close deals be more efficient and more effective, so that they can focus on what is happening on the buyer’s side and help them make the right decisions.
“We’re really excited about the larger umbrella that Consensus gives to us to expand our product line, to expand the position in the marketplace that really encapsulates where we are going,” said Hess.
This Series A round brings the total amount raised to $7 million. Consensus plans to use the funds for additional product innovation and to expand adoption of its buying consensus solution among mid-market and enterprise companies. Consensus has acquired more than 250 customers in 24 months, served by 45 employees. With the new funding, the company will focus on talent acquisition and also further research and development, sales and marketing.
“We’re excited to be increasing our investment in Consensus,” said Sid Krommenhoek, Managing Partner at Peak Ventures. “This company represents precisely the kind of insight-driven sales acceleration and marketing leverage that growing businesses of all sizes need. Solving the problem of buying dysfunction represents a significant market opportunity.”