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§ Private Profile · Palo Alto, CA, USA
AI-powered sales intelligence platform automating research and account prioritization for go-to-market teams, curating actionable insights.
CloseFactor has raised $20.0M across 2 funding rounds.
Key people at CloseFactor.
CloseFactor has raised $20.0M in total across 2 funding rounds.
Based in Palo Alto, California, CloseFactor is an artificial intelligence-powered sales intelligence platform that automates research and account prioritization for business-to-business go-to-market teams. The enterprise software company utilizes machine learning algorithms to analyze unstructured data across multiple sources, providing sales professionals with actionable insights regarding target accounts, buyer personas, and specific corporate priorities. Before officially ceasing operations in June 2024, the platform served sales departments within the technology sector, securing enterprise contracts with software customers including Zuora, LaunchDarkly, and Chronosphere. During its operational lifecycle, the organization scaled to a headcount of 44 employees while generating under $5 million in annual revenue. The company raised $20.5 million in total venture capital funding, drawing financial backing from prominent lead investors Sequoia Capital and Vertex Ventures. CloseFactor was originally founded in 2019 by Leena Joshi and Erik Buchanan.
CloseFactor has raised $20.0M in total across 2 funding rounds.
CloseFactor's investors include Sequoia Capital, Vertex Ventures, Acrew Capital, B Capital Group, Coalition Operators, Cowboy Ventures, Equity Venture Partners, Hack VC, Insight Partners, Scheinman Angel Fund, Uncork Capital, Y Combinator.
CloseFactor has raised $20.0M across 2 funding rounds. Most recently, it raised $15.0M Series A in December 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2022 | $15M Series A | Sequoia Capital, Vertex Ventures | Acrew Capital, B Capital Group, Coalition Operators, Cowboy Ventures, Equity Venture Partners, Hack VC, Insight Partners, Scheinman Angel Fund, Uncork Capital, Y Combinator, Edith Harbaugh, John Kobs, Mathilde Collin, Michael MA, Michael Stoppelman, Russ Heddleston | Announced |
| May 1, 2022 | $5M Seed | Sequoia Capital | Acrew Capital, B Capital Group, Coalition Operators, Cowboy Ventures, Equity Venture Partners, Hack VC, Insight Partners, Uncork Capital, Y Combinator, John Kobs, Mathilde Collin, Michael MA, Michael Stoppelman, Russ Heddleston | Announced |
CloseFactor was a technology company that built an AI-powered go-to-market (GTM) operating system for revenue teams, specializing in sales and marketing automation with a focus on account-based strategies.[1][2][5] Its suite of tools automated account research, prioritized sales opportunities, and personalized outreach using machine learning to analyze unstructured data from deals and sales plays, serving sales, marketing, and revenue operations professionals at companies like Zuora, LaunchDarkly, Chronosphere, and The Talent Cloud.[1][2][5] The platform solved the problem of identifying ideal customers, empowering sales teams at scale, and boosting pipeline coverage and deal close rates—hence its name—but the company wound down operations due to growth and retention challenges in a rapidly evolving market.[3]
Founded in 2019 in Palo Alto, California (formerly Ogmagod), CloseFactor raised $19.59M total, including a $15M Series A in 2023 and a $4.5M seed led by Sequoia Capital, reaching Series A stage before shutting down.[1][2]
CloseFactor emerged in 2019 as Ogmagod, rebranding to reflect its focus on improving "deal close factor" through customer-validated AI insights for GTM teams.[1][2] The founders created technology to curate unstructured company data into actionable intelligence, helping teams exceed growth targets amid outdated B2B sales processes.[2][3] Early traction came quickly: adopted by high-profile customers like Zuora and LaunchDarkly, it secured a $4.5M seed from Sequoia in its initial phase to scale ML-driven sales insights.[2] A pivotal moment was the 2021 rebrand and product evolution into a full GTM OS, but despite impressive early wins—like streamlined account-based marketing for The Talent Cloud—the company faced market shifts and communication hurdles, leading to its wind-down announcement.[1][3][5]
CloseFactor stood out in the crowded sales tech space through these key strengths:
Competitors like SalesAi and Aviso offered similar automation, but CloseFactor emphasized precision targeting via proprietary data curation.[1]
CloseFactor rode the AI-for-sales wave, capitalizing on the post-2019 boom in ML tools for GTM amid exploding demand for account-based marketing in B2B SaaS.[1][2] Its timing aligned with shifts toward data-driven revenue ops, as companies like Salesforce and Showpad alumni brought expertise to automate what humans couldn't scale.[1][2] Market forces favoring it included unstructured data proliferation and the need for hyper-personalization, influencing the ecosystem by validating AI's role in pipeline acceleration—early adopters saw outsized gains before broader tools commoditized the space.[3][5] Ultimately, its shutdown highlighted pitfalls in GTM tech: rapid evolution and differentiation struggles, pushing survivors toward deeper integrations.
CloseFactor's story underscores the high-stakes volatility in AI sales tech—strong tech and funding couldn't overcome market saturation and retention hurdles, ending in wind-down despite validated product-market fit.[3] With operations discontinued, its legacy lives in alumni networks and lessons for GTM innovators: prioritize sticky value props amid AI commoditization. Looking ahead, trends like agentic AI and unified revenue platforms will shape successors, potentially evolving CloseFactor's playbook into acquired IP or founder-led ventures that better navigate ecosystem churn—echoing how its Sequoia-backed start accelerated real pipeline wins before the close.[1][2][3]
Key people at CloseFactor.
