Alta Raises $25M to Expand AI Sales Platform

Israel AI startup Alta has raised $25 million in a Series A investment. AI startup Alta, a developer of an artificial intelligence agent platform for marketing, sales and business development teams raised $25 million in a Series A funding round. Led by IN Venture, the investment arm of Sumitomo Corporation, participants included Mindset Ventures, Skywell Capital, Leumitech77 and existing investors including Entrée Capital, Target Global and Verissimo Ventures, as well as a number of angel investors and scout funds.

The new investment follows Alta's $7M Seed round, which raised the total raised by the company to $32M. The new money will be dedicated to speeding up its product development efforts, expanding its business overseas, and increasing its footprint in its key international markets.

Since Alta's launch of the platform in 2023, the company has experienced very fast commercial growth, led by Stav Levi-Neumark (CEO), a previous Monday.com employee, and serial entrepreneur Mor Shabtai. It has grown its revenue by 800% in under a year to $15m pa, and expects it to hit about $30m pa by the end of 2026, the company said.

With the modern sales organization grappling with the fragmented software landscape, Alta is tackling the problem. There are numerous platforms that are used within a business, such as customer relationship management (CRM) platforms, data warehouses, automation platforms, and more, those gathers massive amounts of data, but have not been integrated efficiently. Traditional sales software often results in generic automated interactions that don't substantially benefit the quality of leads or sales performance: the company said.

Key Highlights

• $25M Funding: Alta raises $25 million in Series A
• 800% Growth: Targets $30M revenue by 2026
• AI Platform: Automates marketing and sales

To address these challenges, Alta's team has developed an AI-powered platform from scratch, with a loosely linked network of AI agents communicating via a "company brain" for coordination. This system combines data from over 50 data sources and crunches hundreds of buying signals to empower businesses to discover potential customers and gain insights into market behavior.

The platform helps companies find qualified leads, perform account research, reach out to prospects through various communication channels and set up meetings automatically. Aside from lead generation, Alta's AI agents can qualify inbound leads, facilitate AI-driven calls, handle customer relations and pinpoint upsell prospects. It integrates with over 60 go-to market and business tools such as Attio, Clay, Google, IBM, Salesforce, and HubSpot, so corporate technology stacks can be leveraged into the platform.

CEO Stav Levi-Neumark said that Alta wants to have a similar impact on marketing and sales as cloud computing has had on software infrastructure.

Marketing and sales are what AWS did for cloud infrastructure, and now we're doing for them, Neumark said. Instead of providing another software solution, Alta is developing an "intelligent system" that is able to learn, operate and assist companies to generate more revenue with AI-powered services," she continued.

Unlike the conventional software-as-a-service (SaaS) companies, Alta is a product-based services company that integrates AI technology with human talent. Dedicated account managers, with internal AI agents to assist them, have almost 80 customer accounts to manage, versus approximately 20 accounts in traditional sales-based companies. According to the company, this approach allows businesses to gain more efficiency in their operations and promotes trust in the use of AI technologies.

Alta now has over 300 customers, such as Snowflake, Deel, Atlassian, Atoms and Sabio Group, and says it's gaining about $1.5 million in new business each month. The company has grown rapidly, but only employs 55 persons, half in Israel and half in the United States, and aims to hire only 80 employees by the end of 2026, while expanding its revenue.

Alta is building a new segment of the enterprise AI business, say investors. The company has created the intelligence layer that doesn't exist in today's sales tech ecosystem, not to compete with the other software vendors," said Eitan Naor, Managing Partner at IN Venture. Sumitomo Corp's worldwide network will help Alta expand into Japan and Southeast Asia, he added.

“CEO Stav Levi-Neumark’s proven track record of unlocking growth potential in complex business data was commendable, and the founding team of Avi Eyal at Entrée Capital deserves praise for this,” Eyal said. He added that Alta is innovating with AI and setting the future of the architecture of marketing and sales and driving the company's continued global expansion.