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This week’s Startup feature is warmly.ai. Warmly is the AI-powered sales platform transforming how B2B companies sell via identification and automation.

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Company & Team Introduction

Warmly is the AI-powered sales platform that helps companies identify, qualify, and close leads while they’re still warm. Founded in late 2019 by Maximus Greenwald (CEO), Alan Zhao (Head of Customers), and Carina Boo (Head of Product), who left their roles at Google to create a company dedicated to helping professionals build authentic connections. Their journey began with PushPull, a digital business card platform focused on fostering meaningful relationships and participating in numerous accelerators, including On Deck Fellowship, Techstars Boulder, Y Combinator, and the Sequoia Company Design Program, as they further honed their product and vision. By the end of 2020, the company pivoted from PushPull to TrackAdvocates, a platform that helped sales and customer success teams build stronger customer relationships. Later that year, they launched Warmly Nametags in the Zoom App Store, which rapidly gained traction, quickly reaching nearly 30,000 users. In 2022, the team shifted toward enterprise sales, exploring various monetization strategies. In 2023, the company pivoted again, transitioning into Warm Leads, a broader platform designed to help Go-To-Market teams find, qualify, and close warm leads. As of 2024, Warmly.ai is focusing on building an autonomous revenue orchestration platform that helps sales teams automatically convert warm leads while they’re still interested. Warmly is headquartered in San Francisco, California and has grown its team to about ~45 employees.

Product Overview

Warmly offers an AI-powered platform to help sales teams identify, qualify, and convert warm leads. The platform uses AI-driven insights to engage with leads at the optimal moment, ensuring they remain engaged while they’re still interested, significantly improving conversion rates. Key features of Warmly include:

Lead Identification: Warmly helps businesses identify potential leads by analyzing website visitors and engagement signals, enriching lead data with third-party services like Bombora, Clearbit, and Demandbase.

Lead Qualification: The platform automatically qualifies leads by scoring them based on their activity and behaviour, ensuring that sales teams focus on the most promising prospects.

Revenue Orchestration: Warmly streamlines the sales process by automating outreach, engagement, and follow-ups on channels such as LinkedIn, email, and chat, using AI to ensure timely and personalized interactions.

Sales Insights: The platform provides valuable analytics and reporting tools to help sales teams track lead behaviour, optimize conversion strategies, and improve ROI.

CRM Integrations: Warmly seamlessly integrates with popular CRM systems, allowing teams to sync lead data and automate sales workflows, enhancing team efficiency.

Total Addressable Market

Warmly’s AI-powered tools drive efficiency and increase outreach during the sales process, which almost any company can benefit from, giving the company a massive opportunity to become a centralized automation hub for sales. According to Sacra research, the total addressable market was estimated to be as large as $5B in 2021 and is forecasted to see strong growth through 2028, creating a potential $30B market opportunity by 2028, primarily driven by increased reliance on AI-powered sales solutions, particularly in B2B environments.

Business Model

Warmly.ai offers three pricing tiers: Startup, Business, and Enterprise. Here's a breakdown of the features and differences between them:

Startup: The startup tier starts at $700/month. It is targeted towards smaller teams, includes three seats and provides access to essential lead-generation tools. Users can reveal up to 10,000 Website visitors per month, which starts at 1000 Orchestrator credits/month and is used for automated LinkedIn and email outreach. It supports basic CRM integrations and includes access to the enriched profiles of leads through services like Bombora, Clearbit, and Demandbase.

Business: The business tier starts at $1,440/month. Designed for mid-sized teams needing more scalability and includes ten seats. Supports up to 100,000 website visitors per month (price dependent on # of visitors). In addition to the Startup plans features, the Business tier includes enhanced analytics and segmentation features, such as detailed visitor temperature and trend dashboards, providing a more granular understanding of lead behaviour. Includes priority support and more robust filtering and routing features to streamline lead management.

Enterprise: The Enterprise tier offers customized pricing and features tailored for large enterprises with significant lead volume and complex needs. Unlimited visitor reveals and advanced functionalities for CRM and opportunity mapping. Designed to support a large team with customizable user seats and provides enhanced segmentation views and visitor history tracking. Users can access full integrations with additional third-party tools, and it comes with a dedicated success team for support.

Traction

Since its last product pivot at the end of 2022, Warmly has seen explosive demand for its AI platform. The company has seen strong early adoption with over 250 customers already, and among those early adopters are some impressive customers, including massive publically traded companies like New Relic and high-growth startups such as Instawork, Sardine, and Sendoso. Warmly’s revenue orchestration platform ARR is currently in the ~$2.2M range and grew an impressive 10.23% MoM last month. The company also has another product from a past pivot called Warmly Nametags, which is still generating ~624k in ARR. The industry is also taking notice of Warmly, being named one of the top 100 startups to work at in 2024 by startup executive search firm WillReed.com. With its recent Series A capital injection, Warmly will be investing heavily in growing its team and building out its feature set as it sets its sights on $10M ARR and 500 customers in advance of its Series B.

Competitors

The competitive landscape for AI-powered sales and lead generation platforms is becoming increasingly crowded due to the strong demand driven by the efficiency and effectiveness these tools bring to the sales process. There are some notable competitors with similar offerings to Warmly's, namely Retention.com and RB2B. Here is a comparison between Warmly and its main competition:

Warmly vs Retention.com:

Retention.com enriches visitor data and transforms anonymous website traffic into qualified leads. Its strength lies in its use of third-party data integrations (e.g., Clearbit, Bombora) to give sales teams actionable insights into which visitors are most likely to convert. This focus on data enrichment and behavioural insights helps businesses qualify leads more effectively. Warmly offers a broader suite of tools, including AI-driven lead qualification and revenue orchestration, allowing sales teams not only to identify leads but also to engage and nurture them through personalized outreach automatically. It saves significant time for teams by automating much of the engagement process while integrating deeply with CRMs and other sales tools.​

Key difference: While Retention.com emphasizes lead identification and qualification based on behaviour, Warmly provides a more comprehensive, automated solution for sales teams, streamlining both qualification and outreach via more channels.

Warmly vs RB2B:

RB2B focuses on real-time lead engagement, pulling LinkedIn profiles of website visitors and providing them to sales teams via channels like Slack, enabling teams to respond immediately to high-intent leads. RB2B is built for quick, direct outreach using LinkedIn for social selling. Warmly.ai, while also tracking website visitors, focuses on a more automated and comprehensive approach. It uses AI to qualify leads and then automates much of the outreach process, saving sales teams significant time. Warmly also has higher quality data from 10+ sources, leading to better identification results of ~50% more person-level leads and 1000x more company-level leads. The platform is also geared towards revenue orchestration, integrating with CRMs and marketing tools for a more seamless pipeline management process.​

Key difference: RB2B is tailored for faster, more immediate outreach via LinkedIn, while Warmly.ai provides a more holistic, AI-driven solution with automated outreach and deeper integrations for broader lead qualification and management.

In conclusion, both Retention.com and RB2B offer valuable solutions for sales teams but focus on different aspects of lead generation, engagement, and target market. RB2B is best suited for early-stage startups, whereas retention.com and Warmly are better suited to larger companies looking for higher-quality data and are priced accordingly. Warmly.ai also stands out from retention.com by providing a more automated and end-to-end platform incorporating AI-driven outreach and orchestration, giving it a competitive edge in an increasingly crowded market.

Funding

Warmly has raised several rounds of funding, raising additional capital to fund through multiple major product pivots. The company has received a range of funding for completing many high-calibre accelerator programs, including Y Combinator, Techstar Boulder, On Deck Fellowship, and the Sequoia Design Program through 2019-2021 with a previous product. For standard funding rounds, the company raised 2.1M in their first seed round, led by James Currier of NFX, with other participants in the round, including firms Scribble Ventures, Y Combinator, Matchstick Ventures, Bossa Invest, and angel investments from notable industry figures like Sequoia Partner Mike Vernal, and Harry Stebbings of 20VC. After pivoting their product, Warmly raised an additional $2.4M in seed funding in July 2021 in a round spearheaded by F-Prime Capital and other participants, including a follow-on investment from NFX and Maven Ventures. Most recently, Warmly raised an impressive $11M Series A led by Felicis and additional participants NFX, Zoom Ventures, F-Prime Capital, Maven Ventures, and others.

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