Automated services quoting solution startup Provus Inc. said today it has raised $12 million in new funding to strengthen its product and engineering teams and scale up its sales and marketing functions.
Norwest Venture Partners led the Series A round, with Accel Partners, Storm Ventures and Firebolt Ventures also participating. Including the new funding, Provus has raised $13.2 million to date, according to data from Crunchbase.
Founded in 2021, Provis offers a service CPQ platform that uses artificial intelligence to help enterprise customers accelerate turnaround time, grow deal sizes and increase win probability faster. Service CPQ, which stands for configure, price and quote, is business software designed for sales teams to provide accurate product options and prices.
As a Salesforce Inc. AppExchange Partner, the Provis platform aims to automate the end-to-end process for service quoting completely. This enables teams of all sizes to reduce sales cycles, maximize revenue, optimize margins and improve the customer experience.
The company argues that traditional service quoting processes are error-prone and require manual data entry and approvals across emails and spreadsheets, costing teams hundreds, if not thousands, of hours on service quoting.
The Provus Services Quoting Cloud offers collaborative estimation, pricing and quoting capabilities that empower service provider organizations to close more deals. The solution navigates the complexities of quoting at large scale by balancing the competing needs of customers, finance teams and delivery teams.
Provus says its service offers a seamless user experience for customers using Salesforce Sales Cloud or Revenue Cloud. The solution can also be integrated with other leading customer relationship management software.
“Many of our leaders previously worked at companies with highly ineffective services quoting processes, which stopped us from optimizing margins and maximizing our revenues,” Provus co-founder and chief executive officer Mahesh Baxi, said in a statement. “Our team is dedicated to filling this market need and giving teams the automated and intuitive tools they need to fulfill the entire services quoting cycle.”