How this startup is using GPT-3 tech to boost lead efficiency – GeekWire

The economic slowdown and technology cuts have dealt a double whammy to corporate sales teams.

Distribution CEO Manny Medina thinks AI can help.

The Seattle startup is testing a new feature called Smart Email Assist, an AI tool powered by OpenAI’s GPT-3 model that spits out a draft email to potential customers based on previous exchanges between a buyer and seller.

Medina explained that the new feature allows salespeople to automate their initial contact with buyers, allowing them to answer qualified questions before the sales rep is fully engaged. He added that this automated exchange helps the agent gather insights about the customer’s budget, decision-making authority and pain points.

It’s similar to what Microsoft announced this month for the Viva sales platform. The tech giant, a major investor in OpenAI, is using GPT Tech to auto-target emails to sales reps.

Medina said one of the challenges of working with GPT is knowing the economics of the unit, pointing out that the technology is not cheap.

Broadcaster isn’t releasing pricing information for the smart email assistant until it launches at the company’s Explore+ event in March.

Other Seattle-area startups and entrepreneurs are using GPT to improve products.

Seattle legal technology startup Lexion has incorporated GPT into its Microsoft Word plug-in to suggest edits and create text summaries for legal documents. Seattle entrepreneur and software developer Patrick Hastings recently introduced Ghostwriter, a Word add-on that generates stories from user input.

Outsourcing’s new email generator is being phased out as mass technology cuts have disproportionately affected sales teams, accounting for as much as 20% of total layoffs, according to some reports. At the same time, many businesses are delaying spending, making it harder for remaining sales reps to find willing buyers.

Due to the reduced strike rate, military sales have seen significant gains as it operates on a per-user basis, Medina said. But the tighter spending climate has led sales reps to rely on startup equipment for buyer efficiency, offsetting some of the loss in demand, he said.

Launched in 2014, the outlet has more than 5,500 customers, including Tableau, Okta and DocuSign. The startup aims to be profitable by the end of the year, Medina said. The company laid off 5% of its workforce in August and now has about 1,100 employees.

In the year In 2019, it became a foreign relations unicorn when it raised $114 million. In the year The valuation has since more than quadrupled, including two more fundraising rounds in 2020 and 2021. Total funding so far is about $500 million.

The company is backed by Sand Capital, Salesforce Ventures, Operator Collective, Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield and Sapphire Ventures.

Medina said it will only consider a public offering when market conditions are favorable for companies of a similar size.