Investing in innovation and customer success with onboarding, continuous learning, business intelligence and social commerce solutions
VANCOUVER, BC - Penny AI, a global leader in data-driven social commerce enablement, announced today a $27 million investment led by PSG, a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth, with participation from Acronym Venture Capital and ScaleUP Ventures. This latest Series B round of funding was oversubscribed.
Penny AI serves as a virtual assistant to sales consultants by providing contact management, prospecting and communication solutions on a single platform to help increase sales productivity. Purpose-built for global enterprises, Penny AI is a sales enablement partner of choice to some of the world’s largest direct sales companies.
Our objective is for the investment 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 best-in-class curriculum with science-backed learning design to enable learning in the flow of work to upskill sellers.
- Insights and Data Visualization - 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.
Chris continued, “While building the team, we were passionate about making Penny a truly Diverse and Inclusive tech company. I am so proud that we’ve created a team with one of the highest percentages of women engineers in all of Canada at 54% (when the industry average is below 30%). Now, working across 17 cities in Canada, the States and Europe, we’re united in improving our users’ lives with the power of AI and I can’t wait to welcome new talent to our incredible team.”
Penny AI supports hundreds of thousands of sellers in over 60 countries and 25 languages. Over the last year, Penny AI has quadrupled the team with strategic hires to lead the expansion and adding PhD talent to lead Learning Design and spearhead the onboarding and continuous learning product line.
To learn about open opportunities at Penny, please visit getpenny.com/careers
About Penny AI
Penny AI is a social commerce enablement platform, purpose-built for brands to empower the modern social seller. The data-driven unified platform leverages AI to enable sellers with an automated repeatable process, ongoing learning and business intelligence, resulting in exceptional customer experience and measurable sales growth
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit: