MiClient, an AI-driven B2B sales enablement platform, has successfully raised ₹3.9 crore in its seed funding round led by IAN Group, with participation from prominent investors including Anicut, GSF, RTAF, and Keiretsu. This significant investment will empower MiClient to build a stronger team, expand its market reach, and continue its mission to transform the sales processes for small and medium-sized enterprises (SMEs) across India.
Enhancing Sales Efficiency with AI-Powered CPQ and CRM Solutions
MiClient has rapidly gained traction in the B2B sales space, particularly within the manufacturing sector, by offering an innovative Configure, Price, Quote (CPQ) platform. This platform is part of MiClient’s comprehensive CRM software suite, designed to streamline CRM customer management and enhance CRM customer relation management. With over 150 customers and more than 1,500 active users, MiClient’s platform is addressing a critical need in the market for efficient, easy-to-use sales tools.
Traditional CPQ solutions often fall short, leading to delays and revenue losses for sales teams. MiClient’s platform, however, is changing the game by enabling sales teams to close deals three times faster, with the average deal closure time now reduced to just 10 days. This efficiency boost is particularly valuable for SMEs, which require reliable and cost-effective solutions to compete in today’s fast-paced market.
Strategic Growth and Market Expansion
With the new funding, MiClient is set to expand its presence across India’s industrial hubs, executing a "feet-on-the-street" go-to-market strategy. This approach will allow MiClient to reach more businesses and sectors that can benefit from its CRM management softwareand AI-powered CPQ solutions. The focus on digitalizing sales processes for MSMEs and SMBs aligns with MiClient’s broader vision of empowering these businesses to conduct sales more effectively and efficiently.
Swati Sharma, Co-Founder and CEO of MiClient, highlighted the company’s commitment to supporting SMEs: “We are deeply committed to empowering MSMEs and SMBs with the right digital tools to conduct their sales better. This new funding will enable us to grow our team, address more relevant pain points of MSMEs and SMBs, and strengthen our market presence. We welcome exceptional sales talent to join us in our journey to build India’s best deal closure platform.”
Backing from Industry Leaders
The seed funding round has garnered strong support from industry leaders who believe in MiClient’s potential. Padmaja Ruparel, Co-Founder of IAN Group, expressed confidence in MiClient’s innovative approach and its focus on small and medium-sized businesses: “MiClient’s innovative approach and focus on SMEs, especially in the manufacturing sector, combined with their impressive growth, made this an easy investment decision. We believe in their vision and are excited to support their journey.”
Vikas Kuthiala, an angel investor and mentor, added, “MiClient is an MSME-focused SaaS startup venture. There are an estimated 60 million MSMEs in India, and close to 10% are ripe and ready to incorporate technology and automation tools to improve internal business processes and enhance their overall productivity. MiClient has a suite of products that successfully target and address key business development and sales management functions. They have a well-defined product development roadmap built upon these opportunities and target more business functions in the near future.”
Positioning for Market Leadership
The recent funding round follows an initial pre-seed investment from 100x.VC in October 2023 and marks a pivotal moment in MiClient’s journey. The company is not only expanding its market presence but also developing an AI-based model to further streamline the sales process. This AI-driven approach will enable users to create quotations and invoices in seconds, providing a significant competitive edge in the rapidly growing global B2B sales software market.
With the B2B sales software market projected to reach $52 billion in the next five years, and India and Southeast Asia expected to contribute around $2 billion, MiClient is well-positioned to become a market leader. The company’s focus on digitalizing sales processes for the Indian MSME sector, particularly in manufacturing, will be instrumental in driving growth and innovation in this space.
MiClient’s journey is just beginning, and with the support of its investors, the company is poised to achieve remarkable growth and continue its mission to revolutionize B2B sales in India and beyond.
