Babson Entrepreneur Adam Hollander ‘05 Secures Seed Financing for FantasySalesTeam
ATX Seed Ventures and Central Texas Angel Network lead seed round that will be used to accelerate marketing, sales and customer support.
FantasySalesTeam, which helps companies of all sizes run more engaging and higher performing sales contests, has closed on $640,000 in seed financing, funded by ATX Seed Ventures, the Central Texas Angel Network, Marvel Venture Partners, and select individual investors.
FantasySalesTeam has developed a powerful online platform which allows sales managers to drive increased activity and results through team based competition; all modeled on fantasy sports. The Gamification startup launched in June 2013 has 50+ customers and announced v2.0 of their platform earlier this week.The Austin, Texas tech startup was founded by 30-year-old Babson alum Adam Hollander ’05.
“The most rewarding part of starting this company has been the customer feedback. Sales managers and reps tell us all the time that this is the most fun sales contest they’ve ever run,” said Hollander. “Most importantly, they’re seeing measurable increases in sales activity, engagement and results.”
Rick Hanson, VP Global Sales and Field Operations, Hewlett-Packard (HP) said “I’ve been an executive in sales for over twenty years and it’s rare that you run across a technology like FantasySalesTeam that can have such an impact in a limited amount of time.” HP has run several FantasySalesTeam games which are fully integrated with their CRM, Salesforce.com. FantasySalesTeam was also recently named Top Sales Gamification Tool by Richardson, a leading sales training and consulting firm.
“The fact that FantasySalesTeam is flexible and customizable to fit any sales environment, can monitor dozens of performance metrics without operational hassle, and rewards competitive as well as team based selling appears to be a game changer,” said Jim Brodo, SVP, Richardson.
The term ‘gamification’ has really taken hold over the last several years. However, FantasySalesTeam’s goal has never been to simply ‘gamify’ sales. It has always been to create a new breed of sales contest; one that solves the problems that cause traditional incentive programs to underperform.
“This is just the beginning,” said Hollander. “This funding will allow us to rapidly expand our client base across all industries, make a number of exciting enhancements to the product and most importantly, ensure customer success.” The company is already developing a mobile version of its application and will shortly be expanding its integration platform.
Lots of companies run sales contests – but few drive meaningful improvement or results through them. That’s because there are a number of underlying problems with the way most traditional sales contests are designed. FantasySalesTeam is a web based software application that allows sales managers to run more fun, more effective sales contests that keep reps engaged and yield improved results.