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Dealhub Secures $60M For Sales Tools To Configure, Price, And Quote

Jun 14, 2022•about 3 years ago

Amount Raised

$60 Million

Description

Configure, price, and quote software, also known as CPQ software, is designed to help sellers quote complex and configurable products, like heavy trucks with different types of chassis and engines. Demand is high — according to Gartner, the CPQ software market grew by 15.5% in 2019 to an estimated $1.42 billion. But it can be difficult to navigate because not all vendors hone in on the same aspects of configuration. For example, some CPQ software emphasizes price optimization at the expense of product customization.

Company Information

Company

Deal Hub

Location

2Nd St

About

The platform can also dynamically generate relevant contract and legal terms, facilitating tasks like collecting electronic signatures and redlining — i.e., editing a contract when two or more parties are negotiating.“The pandemic has forced sales teams to quickly evolve from traditional sales processes to remote selling. That spurred Eyal Elbahary, Eyal Orgil, and Alon Lubin to found DealHub, a CPQ vendor focused on creating “accurate” and “predictable” sales pipelines. Launched in 2014, 160-employee DealHub has expanded over the years to include contract lifecycle as well as subscription management tools, competing with the likes of Conga, Tacton, and Vendavo.“Legacy CPQ solutions often require long implementation periods and code-heavy customization, offering little flexibility,” CEO Elbahary told TechCrunch in an email interview. “The DealHub platform’s hybrid engine delivers a unique combination: The depth and complexity of a custom-coded solution and the flexibility of a business-oriented, no-code configuration environment.”Prior to starting DealHub To this end, DealHub provides “selling playbooks” aimed at helping sales teams understand the process of configuring a quote, creating sales materials, and negotiating contracts.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech