SalesforceIQ

SalesforceIQ
Industry Customer Relationship Management
Founded 2011
Founder Adam Evans, Steve Loughlin
Headquarters Palo Alto, California, United States
Products Cloud-Based customer relationship management
Number of employees
 128
Website salesforceiq.com

SalesforceIQ (formerly RelateIQ), a subsidiary of Salesforce.com, is an American enterprise software company based in Palo Alto, California. The company's software is a relationship intelligence platform that combines data from email systems, smartphone calls, and appointments to augment or replace standard relationship management tools or database solutions. It scans "about 10,000 emails, calendar entries, and other data points per minute at first run".[1]

In July 2014, salesforce.com announced plans to acquire the company for close to $400 million.[2] Industry insiders predict that the acquisition will bulk up salesforce.com's data science offering, enabling the world's #1 CRM provider to compete amid rapidly changing enterprise software requirements. One article on the acquisition states, "If RelateIQ fulfills its promises of stopping team members from accidentally emailing the same queries to clients or customers, or allows salespeople to decipher the corporate hierarchies of their potential contacts through algorithms, there could be some lasting changes to the world of sales."[3]

Team

The company was founded in July 2011 by Adam Evans and Steve Loughlin. At the end of July 2013, the company made headlines by bringing on data scientist DJ Patil as VP of Product.[4] The leadership team also includes VP of Sales Armando Mann (the recent head of sales at Dropbox and a former Google executive), and VP of Marketing Elise Bergeron (formerly of Facebook).

Technology

Unlike traditional relationship management systems, which rely on data input by users to keep their teams informed and run predictive analytics, SalesforceIQ's platform automatically isolates and analyzes a user's professional emails and other interactions. In combining this data with information gleaned from other sources, such as LinkedIn and Facebook, SalesforceIQ leverages data science "to comb through emails, analyze them, and offer reminders and suggestions to busy salespeople."[5]

In March 2014, the company released "Closest Connections", a feature that "automates a normally time-consuming—and potentially erroneous—sales process" by identifying warm introductions for potential prospects based on real activity happening within a team's email inboxes, phones, calendars, and social networks.[6]

Post Acquisition

As part of the 2015 Dreamforce conference, RelateIQ was rebranded as SalesforceIQ. [7]

References

  1. ↑ Rusli, Evelyn (6/12/13). "Your New Secretary: An Algorithm". The Wall Street Journal. Retrieved 7/8/13. Check date values in: |access-date=, |date= (help)
  2. ↑ "Salesforce.com Agrees to Acquire RelateIQ for About $390 Million". Wall Street Journal. 2014-07-11. Retrieved 2014-08-15.
  3. ↑ "LinkedIn's Data Guru's Second Act At Salesforce". Fast Company. 2014-08-01. Retrieved 2014-08-15.
  4. ↑ "Greylock's Data Scientist In Residence DJ Patil Joins Enterprise Relationship Manager RelateIQ As VP Of Product". TechCrunch. 2013-07-31. Retrieved 2013-10-02.
  5. ↑ Novet, Jordan (12/3/13). "Startups fatten up Salesforce.com with analytics and data". VentureBeat. Retrieved 12/10/13. Check date values in: |access-date=, |date= (help)
  6. ↑ Novet, Jordan (2014-03-22). "RelateIQ identifies the best employee to contact each new sales lead". VentureBeat.
  7. ↑ Ungerleider, Neal (2015-09-15). "RELATEIQ, SALESFORCE'S $390 MILLION "SIRI FOR BUSINESS," GROWS UP". FastCompany. Retrieved 2015-09-18.


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