Costello gives real-time assistance through their sales-management software, by which sales professionals engage in productive conversations with buyers. The company has raised $2.1 million in seed funding from strategic investors like Omaha, Nebraska-based Dundee Ventures, Collina Ventures, Irene Goloschokin, and Social Capital. The funding brought the total capital raised by the company to $3.1 million. Other investors in the funding round include Indianapolis-based Innovatemap Ventures, Elevate Ventures, Innovate Indiana, and ExactTarget and ClusterTruck co-founder Chris Baggott.
“We were fortunate to be an early investor in Costello and are thrilled at the opportunity to re-invest in the company,” said Greg Beaufait, partner at Dundee Capital. “Costello completely disrupts the way sales teams use traditional call scripts and ad-hoc tools by providing a solution that allows VPs, sales managers, and sales reps alike to stay aligned and win together.”
Costello was founded in 2017, with the intent to redefine the way organizations built and executed sales playbooks. The platform assists sales representatives prepare for calls, ask questions to the point and on time, tell relevant stories, and send insights back to the CRM. It also illustrates the gaps in every deal so the managers and reps can work together to fill the gap and move forward.
“We live in a world of rising buyer expectations and as a result, we no longer get second chances,” said Frank Dale, co-founder and CEO of Costello. “To win, we have to deliver a great experience on every sales call, which is why we need to arm our teams with sales playbooks that cover the critical items. We also need to constantly test and iterate our processes while creating healthy tension between structure and flexibility. These impossible expectations are why we built Costello. We’re delivering a new, powerful way for sales teams to have great conversations every single time.”
This funds will allow the team to speed up their product enhancements like integration and customer-requested features, as well as hiring new team members to support their increasing customer base.
Dale also said that Costello is not yet profitable but that it’s growing swiftly. They had just four customers at the time when the company was founded last year, a number has gone up to 50.
“We’re starting to sign some pretty large clients,” Dale said. “In May, we signed our first Fortune 50 Company.”