Penny AI Raised $27M for Series B Funding

penny

Penny AI, a Vancouver, British Columbia-based global leader in data-driven social commerce enablement, raised $27m in Series B funding.

PSG was the leader of the round with Acronym Venture Capital as well as ScaleUP Ventures participating.

Penny AI, which is headed by David Abbey (CEO) and Chris Noble (CTO), acts as a virtual assistant to sales professionals by offering contact management, prospecting, communication solutions and more on one platform. This allows salespeople to be more productive and helps increase their sales productivity.

The company intends to use the funds to accelerate the platform’s expansion into areas that are underserved by existing sales enablement technologies, yet are critical for sellers’ business growth and quality of life, through:

  • Engagement-Based Micro-Learning – A learning platform built for how adults actually learn, combining curriculum with science-backed learning design to enable learning in the flow of work to upskill sellers.
  • Data Visualization and Insights – Actionable insights and data visualization for sellers and corporate teams to understand their business at a glance and drive the next best action.
  • Social Commerce – Closing the gap between customer discovery and instant transactions across social channels to track sales data and attribution in a single platform.

Penny AI supports thousands of sellers in more than 60 countries and 25 different languages.

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