Wonderwerk, a Berlin-based data-driven sales training platform, has raised $2.5 million in a seed funding round led by Sparkmind.vc and Startup Studio Founders, with participation from Black Pearls VC and Spring Capital.
With the fresh capital, the startup plans to fuel expansion to the US, ramp up data analytics, and grow its sales and marketing teams.
Co-founded by Till Leinen, Bowen Moody, and Stefano Zorzi, Wonderwerk provides a learning management system for organizations. The platform allows users to learn and measure progress through employee feedback and analytics. It also allows employees to find learning resources such as conferences, courses, books, and meetups. The platform enables managers to coach and support employees.
Wonderwerk’s vision is to give every salesperson the greatest chance of success. Through Wonderwerk's platform, companies can see how effective their sales training programs are at reducing ramp time and increasing conversion rates. Its customers are fast-growing tech companies that are rapidly expanding their sales teams and need an efficient tool to onboard and upskill their sales teams.
Bowen Moody, Co-founder & CEO of Wonderwerk, stated,
"We still see way too many companies burning and churning their sales reps. When things aren’t working out, they blame the people rather than taking responsibility for their own training processes. What most companies still don’t understand is the huge amount of money they lose every time a salesperson leaves."
Wonderwerk has been working with companies from different industries like SaaS, Computer Software, Retail, Healthcare and Wellness, Finance and Fintech, etc, and in different regions including the US, Latam, DACH, UK, Southern Europe, and Asia.
Sparkmind.vc partner Vesa Laakso added,
"Wonderwerk is a great example of digital transformation in the corporate learning segment. By easily equipping salespeople with the skills they need, the company is capitalizing on this multi-billion yet widely neglected opportunity. I very much look forward to our journey together and working with the team as a board member."
Globally, companies spend an estimated $30 billion each year on sales training even though 90% of it doesn’t deliver desired results. This inefficiency has led to a crisis in the industry with an estimated 30 million salespeople missing critical skills and up to 55% employee turnover.