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TestBox, the startup which helps enterprises solve software buying problems by aiding in decision-making through its product, has launched its product today, raising a $2.7M seed fund from SignalFire, Firstminute Capital
TestBox, a startup that aims to solve painful software buying and decision-making challenges for enterprises, has announced its product launch and also its $2.7 million seed round funding led by SignalFire and Firstminute Capital.
Sam Senior, co-founder and CEO of TestBox, thanked the investors on the company blog and elucidated the pertinence of the TestBox product. It stated that 70 percent of customers spend on buying processes. According to him, while a software buying process happens in different stages, the most important problem in it- choosing the right product- is the most challenging.
Choosing the wrong software can prove expensive, increase employee churn and reduce efficiency. Quoting Gartner data, TestBox stated that it usually takes three to six months to choose one, despite which decision-makers do not express complete confidence in their choice. And here is where TestBox enters the picture to help decision-makers better evaluate the software.
TestBox provides decision-makers a free option to compare software options side-by-side with OpenAI-powered data. It claims that it can reduce software evaluation from months to hours.
We think decision-makers deserve a better buying experience- a self-serve, customer-led experienceSam Senior, co-founder and CEO of TestBox
With the funding, Elaine Zelby, partner at SignalFire, will join the TestBox board. Mr. Senior stated that beyond customer support management software, TestBox would aim to expand into other types of enterprise software such as Customer Relationship Management (CRM), marketing technology (MarTech), and IT Support.
Stating that TestBox was managed by the well-balanced duo of Mr. Senior and Peter Holland, Ms. Zelby opined that if TestBox becomes successful, it will create an entirely new category of software, pioneering a new go-to-market strategy for software vendors to take a customer-led approach to their growth.
This is a vision and mission that we are excited to get behind. We could not be more excited to lead Textbox’s Seed round and get the opportunity to join them for what is going to be an amazing ride in disrupting an extremely entrenched sales model and evolving the $500B software purchasing market (software spendElaine Zelby, partner at SignalFire