Bao Solutions' €2.5 million seed round consists of €1.45 million from Peak and another €1.05 million from BayBG Bayerische Beteiligungsgesellschaft and business angels. The startup has now raised a total of €3.5 million in funding, following its announcement of a multi-million investment from several business angels last summer. Backers at the time included Alexander Bruehl (The SaaS Garage and seed investor at Contentful, among others). Riskmethods, Softgarden and Loyalty Prime), Michael Kofluk (former Managing Partner BCG and Sovendus), Rainer Hoffmann and Thomas Zachau (founders H&Z) and Michael Ohr (among other things startup mentor and coach of the UnternehmerTUM).
Bao Solutions develops conversation intelligence systems for sales conversations. These are software solutions that systematically document and analyze conversations, designed to improve sales conversations and increase the closing rate. The Munich-based startup's solution enables companies to do this thanks, among other things, to real-time speech recognition. Bao provides guidance for further conversation development based on sales scripts, best practices, and data from past conversations. In this way, Bao also creates transparency about success factors in the sales process.
“Bao has proven that it can help companies”
Johan van Mil, Co-Founder and Managing Partner Peak, explains:
"Thanks to automation and data technology, sales has evolved significantly—from an art to a science. Of course, there will always be natural sales talent, but this new type of sales SaaS like Bao Software will enable companies to scale their sales efforts faster and more efficiently. Bao has proven that it can help companies by increasing their deal win rate by 20 percent. With this track record, its unique offering, and the strength of its team, Bao has all the ingredients to set the market standard for conversation intelligence."
Patrick Strunkmann-Meister, CEO & Co-Founder of Bao, says:
"We will leverage Peak's expertise and investment to further improve and optimize the product and existing technology. Particular attention will be paid to the AI we developed ourselves. We look forward to the collaboration and what the future holds. Peak was our ideal investor. They have an entrepreneurial and bold mindset, while also having a keen eye for the crucial details. We are delighted that Peak has recognized Bao's enormous potential. Together, we will surely achieve our ambitious goals."
