Most small businesses today don’t have a dedicated staff to handle their IT needs. Take a restaurant, for an example. Every time they need to buy a point-of-sale machine, a printer, new computers, or assign business emails to employees, they reach out to a contract IT professional, who then works with vendor partners to source products and services. This whole process can take days to close as the IT professional usually has dozens of other contract clients.
A former investor at Accel spotted an opportunity in this space and is tackling it with her new startup Zomentum. The U.S.-headquartered startup’s platform allows SMB owners to more efficiently negotiate and secure products and services, a phenomenon she said is helping these IT professionals increase their revenue and close more sales in less time.
On Tuesday, three-year-old Zomentum announced it has raised $13 million in its Series A round led by Greenoaks Capital and existing investors Elevation Capital and Accel. The round also saw participation from Eight Roads Ventures.
“SMBs are often so focused on helping customers that they end up strapped for time to select the right technology that suits their business needs. Increasingly, more and more IT channel partners are assuming the role of trusted advisors to these SMBs for their technology needs,” said Shruti Ghatge, co-founder of Zomentum.
More than 80% of Zomentum customers today are in the U.S., and Ghatge said the startup will deploy the fresh capital to expand its presence in the market and broaden its product offerings.
More to follow…