The Digital Sales Enablement Technology Company, StorySlab Raises $2.7M Funding

By: Retail CIO Outlook | Thursday, May 07, 2020

StorySlab raises $2.7M in a recent venture financing round led by Armory Square Ventures

Fremont, CA: StorySlab, a digital sales enablement technology company based in Syracuse, NY, raised $2.7 million in funding from a round led by Armory Square Ventures. The participation of RiverPark Ventures and TIA Ventures was also seen in the funding round. Martin Babinec, founder of TriNet and nonprofit group Upstate Venture Connect, and Doug Pinckney, one of the founders of the marketing services agency Pinckney Hugo also joined the round as investors.

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The company provides sales enablement tools for sales representatives selling to consumers both face-to-face and remotely. Its platform tools include an in-built web conferencing integrations, data reporting, offline storage of presentations materials as well as file sharing capabilities.

"Our platform makes it easy to have a flexible and seamless conversation with the client," explained Hans Fuller, founder, and CEO of StorySlab. "Whether in person or over the web, a salesperson can become more responsive and consultative, keeping the conversation active, so the sales process is seamless."

Storyslab caters to more than 100 clients in a range of industries, including chemicals, machinery, electrical components, plastics, and consumer products. With the latest funding, StorySlab will extend its reach across new sectors, scale the marketing team, and grow its operations.

"We were impressed with StorySlab's vision and the Company's strong product/market fit," explained Somak Chattopadhyay, founder and managing partner of Armory Square Ventures. Chattopadhyay joins StorySlab's board of directors as part of this round. "Our team has two decades of experience investing in B2B SaaS companies and supporting their growth. We believe StorySlab has the potential to be a market leader in the sales enablement category."

A major part of the fundraising and pitch process for StorySlab was organized remotely over Zoom through early negotiations with investors started in late February, weeks before the pandemic flared up.

"We raised the round partly despite COVID and partly because of it," says Fuller, "Our platform enables sales reps to stay productive whether in person or remote, and we had to embrace remote collaboration ourselves to get this deal done."

"In times of uncertainty, investors tend to be focused on capital-efficient businesses with strong unit economics and a visible path to profitability," Fuller added. "StorySlab was profitable from day one and had strong customer retention. We look forward to growing far more quickly with the fresh infusion of capital."