Challenge & Outcome
With no way of accessing the visibility into customer conversations, one company failed to get what could have been precious insights that could refine onboarding, coaching, up-skilling, and close rates.
However, by utilizing a platform (that will be spoken about in a second) gave the said company the required data it had longed for to greatly improve everything from its product and messaging to close rates and customer success. Having access to calls — the most important part of any deal — improved the said company’s processes across departments.
The above is just a use-case, briefly describing a scenario of the “Challenge and Outcome” one British company, Cognism, faced before applying Gong’s patented Revenue Intelligence Platform™ to capture and understand every customer interaction.
Gong is a Palo Alto, California-based startup founded in 2015 by Amit Bendov and Eilon Reshef. The seed of the Gong platform came about when Amit Bendov, at the time the CEO at AI company SiSense, came to the conclusion
“his teams were consistently losing deals and no one understood why. After reviewing a number of recent sales calls in search of a solution, Bendov realized that team members were hearing only part of the customer conversation. Lacking an efficient process for accessing and synthesizing customer communications, executives and their teams would spend hours reviewing CRM notes. Yet in spite of this laborious effort, most still resorted to guesswork rather than fact when making crucial business decisions. The results he observed were lost deals and misaligned efforts across functions, teams, and divisions.”
From the left of the stage entered Bendev’s engineer friend Eilon Reshef, who after a discussion revealed that AI could help solve the problem.
What followed, inevitably, was a software product that not only recorded customer conversations but also processed them, understanding exactly what was being said: the good, the bad — the reality.
That was nearly seven years ago now, and since those salad days, Gong has persuaded over 2,000 innovative companies to put trust in the Gong platform, as well as raise a total of $583 million in funding over seven rounds, bringing the startup’s valuation to a reported $7.25 billion valuation and the celebrated status of being a billion-dollar unicorn, however, much pressure — positive or negative— that puts on the founders and investors alike.
So, what’s all the fuss about the Gong Revenue Intelligence Platform™?
According to Gong’s website, the platform “captures and analyzes customer interactions and alerts you to risks and opportunities across your business” and, from that, delivers insights on deals, teams and markets.
The platform offers several products:
• Gong for Markets
• Gong for Deals
• Field Sales
• Gong for Teams
All these, in one way or another, empower whole teams, functions and companies to reach their full potential.
“Gong is experiencing growing market pull from teams beyond sales and from a variety of industries. All types of revenue teams — sales, customer success, marketing, product, and technical support — use Gong to unlock the reality of their customer interactions and dramatically improve performance. The growing diversity of customers depends on the Gong platform’s data-driven insights, time-saving automation, and actionable next steps.
Our vision has always been that Gong would benefit many parts of the enterprise. This vision is being realized as word spreads about Gong’s value as a best-in-breed solution in a variety of customer engagements. It’s heartening to see companies’ vote of confidence as Gong’s powerful technology becomes widely known. It turns out a lot of people throughout an enterprise want to make decisions based on customer reality instead of hunches.”
— Amit Bendov, Gong CEO and Co-Founder
With over twenty years of senior leadership experience in hyper-growth technology startups, managing R&D, marketing, and sales to global corporations in North America, Europe, and APAC, Amit Bendov is Gong’s CEO and a Co-Founder. His professional track record includes taking tech companies from zero sales traction to successful exit/IPO, from small teams to large organizations, and from anonymity to white-hot companies.
He obtained a BSC in Computer Science from Tel Aviv University, Israel.
Bendov’s Co-Founder and CPO is Eilon Reshef. Prior to co-founding Gong, Reshef was one of the founders of Webcollage, a venture-backed SaaS in the e-commerce infrastructure, which connected most of the world’s leading brands (P&G, Microsoft, L’Oreal and more ) with thousands of retailer websites (Amazon, Best Buy, Walmart and more).
A seasoned entrepreneur, Reshef is an executive and (to a lesser degree) an investor in the internet and software spaces. Over the years, he has incepted, built and marketed software, carrying out diverse responsibilities (inception, technology, engineering, product management, product marketing, and general management) in both hands-on and management capacities.
A popular speaker at industry events with numerous features on Forbes, WSJ, TechCrunch, Huff Post, and other publications, Reshef received an M.Sc. in Computer Science from the Weizmann Institute of Science, Israel.
With another $250 million fresh in the bank from a Series E round in June of this year, a client list that includes the likes of Paychex, PayPal, Hubspot, LinkedIn, MuleSoft, Shopify, Slack, SproutSocial, Twilio, and Zillow, Gong is heading in the right direction into delivering insights at scale and empowering revenue teams to make decisions based on data instead of opinions.