3 Israeli startups poised to disrupt B2B industry


Drror Nahumi of Norwest Venture Partners predicted that sales would be a “hot area” for innovation after the COVID-19 outbreak. It turns out he was right. Many companies around the world have discovered a multitude of flaws in their internal and external business processes due to the global pandemic, many of which were not previously aware of.

As supply chains were disrupted and more interactions took place online than ever before, all existing vulnerabilities were exposed in relatively short order in the weeks and months following the first wave of global cases. of COVID-19.

As a result, B2B buyers and sellers have been forced to go fully digital. However, what started as a response to the crisis has now grown into the new normal, with far-reaching implications for how B2B buyers and sellers should do business and interact with each other. Interestingly, only around 20% of B2B buyers say they want to return to face-to-face sales, and this is true even in industries where face-to-face field sales have traditionally dominated.

Israel has long been considered one of the start-up capitals of the world having consistently produced a variety of very successful companies, many of which have achieved unicorn status, such as Waze, eToro, Fiverr, Papaya Global, Taboola and Payoneer.

Tel Aviv has the distinction of having the highest number of start-ups per capita in the world, which is no small feat. Today, several of the country’s hottest new start-ups are focusing on the B2B sales industry to solve many long-standing issues facing customer-facing teams, as well as many issues encountered while along the customer’s buying journey, especially posed by the new digital landscape in which businesses must now navigate.

Some of the main issues plaguing the B2B sales industry include the number of resources required for the process, problematic sales demonstrations, successful integration of technology, too high a percentage of the buyer’s journey happens without the help from no sales representative, conflicts between customization requests and the company’s need to increase production and lack of customer information.

Let’s take a look at three exciting Israeli startups that are poised to disrupt the market and take on many of the challenges outlined above.

WALNUT, FOUNDED by Yoav Vilner, is a Tel Aviv-based SaaS company that provides businesses with the tools and data they need to increase sales performance with the world’s first crash-free, code-free sales platform. and 100% customizable.

Product demonstration is one of the most critical components of the entire sales process for many organizations (especially B2B SaaS companies). It gives companies a unique opportunity to demonstrate the value and capabilities of their product to potential customers, with the intention of closing a deal in the end. In many ways, a company’s product demo can be the difference between landing a sale and losing a lead, and as such, a demo can be the difference between the overall success and failure of the business. .

With this in mind, Walnut has created a one-of-a-kind no-code platform that enables a seamless distance selling process that can be fully customized for each target customer or vertical. Using their platform, sales conversion rates skyrocket and the time and setup required for each sales demo drops.

Additionally, many of the issues faced by sales teams today stem from disagreements between sales and back-end departments, such as R&D, product development, and graphic design. The good news is that many of these issues can be reduced by eliminating the need for back-end teams in the demonstration process. So how do they do this?

Well, removing the need for coding takes away the dependency on other teams. This way, the sales team can take full control of their demo, which allows them to create a much more customer-centric experience, which will only help them increase conversions and sales performance.

GONG CEO Amit Bendov and CPO Eilon Reshef launched Gong in 2015, bringing the company to a point where it now supports more than 2,000 businesses and generates approximately $ 100 million in annual recurring revenue.

In its offices in the Ramat Gan Diamond Exchange area, the company employs 550 people, including 170 in research, development and product management. Incredibly, Gong’s valuation has more than tripled in the past ten months to reach $ 7.2 billion, which is the highest valuation ever achieved by an Israeli company in a roundtable to date.

As for the product, Gong is a revenue intelligence platform developed to help businesses make more informed decisions based on facts rather than opinions. It works by automatically collecting all of a company’s customer communications including emails, online conference calls, video calls, messages, phone calls, and more.

Gong then uses patented artificial intelligence technologies to decipher what is said in these customer encounters with this data. It helps businesses identify patterns and trends in data, resulting in insights that can help drive sales through a dramatically improved sales experience.

Additionally, it allows sales teams to identify risks in the sales pipeline before the trade is lost, allowing them to increase customer retention and revenue. The platform’s analytics also allow companies to improve the skills of their representatives and improve customer interaction at various levels.

WALKME was founded in 2021 by Dan Adika and Rafael Sweary to help businesses navigate their digital and technology needs while accelerating the impact of their digital transformation strategies.

As we discussed before, companies around the world have had to turn to digital business models in the wake of COVID-19, which has resulted in trends such as remote working and inter-organizational digital collaboration. Meanwhile, many companies have discovered their reliance on programs that monitor their digital transformation journey and maximize ROI in technology due to these trends.

With that in mind, WalkMe has created a business orientation and engagement platform that enables business owners, software developers, and website managers to create interactive support sequences at the screen to help users with complex tasks. The codeless platform maximizes user adoption of digital content without requiring changes to the underlying program.

This allows businesses to save time and money on training and customer service while generating revenue through increased conversion rates using the valuable information provided through the platform.

As of this writing, WalkMe has clients from 243 Global 2000 companies and 155 Fortune 500 companies, such as IBM, Hershey’s, Hitachi and Walgreens, and has just launched its initial public offering (IPO) on the Nasdaq. , increasing $ 287 million. at $ 31 per share and giving the company a valuation of $ 2.5 billion.

For many companies, the efficiency of their B2B sales processes is integral to the overall success of the business, which is why it is usually one of the areas that receive the most investment. Yet there are still too many issues involved in B2B sales pipelines, including issues with sales demos, successful technology integration, and a general lack of customer information collected along the way. of sale.

Fortunately, a handful of Israeli start-ups such as Walnut, Gong, and WalkMe are poised to disrupt this industry by providing much-needed solutions to many of these problems, and it seems only a matter of time before they hit the road. be more widely adopted on a global scale.


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