After launching last month and raising $1 million in angel seed-funding, Toronto-based startup ContactMonkey has integrated with a growing number of CRM platforms for its smart email tracking system.
Founder and CEO Scott Pielsticker said that his platform provides “actionable insight”, something that rivals in the emerging space of email haven’t perfected yet. It provides user-friendly snapshots of the most recently opened, important or hottest emails. Sales reps can see when, how many times and where an email was opened to quickly determine their priorities and next moves.
“The idea behind this service is the question of what happens to my email after I hit the send button,” Pielsticker told Techvibes. “The fact that you wanted to see it again gives me confidence that there’s something there and I should really prioritize that call back to you.”
The venture-backed company launched in 2011 and quickly gained their funding from Plazacorp, one of Toronto’s largest condo developers (with an interest in technology investing on the side).
Monetization comes via subscription, where users can have a free 14-day trial before a choice of $4.99 per month or $49.99 per year.
The product could end up being a regular tool in the salesperson’s kit. Plugins are available for Microsoft Outlook and Gmail. As well, ContactMonkey has partnered up with a number of customer relationship management (CRM) systems including Salesforce, Nimble, Goldmine and Sage ACT. Sales reps don’t even have to be looking at their inbox to see which target opened which email.
“It’s going to be very powerful to see all this data living and breathing right inside sales force in a real time environment,” said Pielsticker. “If I’m a sales team of 10 people using Salesforce, now the sales manager gets to see all the activity from each rep, and suddenly it becomes more actionable for the individual and the team.”
But what about people who aren’t answering because they simply are not interested? Pielsticker emphasized that ContactMonkey isn’t for those targets: “We want to give you insight into the hot leads, not the cold ones,” he said. “Most of us in sales are not working on three or four deals, most of us are working on dozens or hundreds of leads, so I think our service is mainly saying call those people now.”
There are rivals in the space such as Yesware and ToutApp, but Pielsticker said it’s the product’s actionable insight that will prevail. Users aren’t being fed raw data indicating that they’ve had 50 opened emails that day, but they can know of eight key opens in the last three hours for example, or that two specific emails had been opened three times that day.
Despite all the functionality though, Pielsticker said one principle guides his business. “It has got to be ridiculously simple. I don’t care who you are, you’ve got to be able to install this in seconds and immediately see the value,” he said. “If you don’t we’re not going to be able to scale so for us this is of paramount importance.”