Startup Spotlight: ZoomInfo’s market intelligence automation
ZoomInfo operates a database of information regarding organisations and business people, which is of use to those working in areas such as sales and marketing for activities like advertisement targeting.
Like many, the Vancouver, Washington State-based company operates on a software-as-a-service (SaaS) model, running its database as a platform. ZoomInfo says it has almost 200,000 paying customers, while some 14,000 companies are on its list. Previously known as DiscoverOrg, it acquired Zoom Information in 2019, taking its name.
ZoomInfo has recently renewed AI and machine learning initiatives, bringing in AI that learns from users needs to better deliver tailored intelligence. One such tool identifies the accounts most likely to close by taking into account those with similar traits.
In a press release, Founder and CEO Henry Schuck said: “We continue to innovate to find easier ways for customers to harness our data and make it actionable. With our new AI ICP product, our customers can now easily compare the market intelligence in ZoomInfo with their customer database to identify ideal prospects faster and more effectively than ever before.”
The company has also released mobile applications for access to its platform, reflecting a belief that its users are increasingly on the go, as Shuck explained: “It doesn’t matter if you’re a traditional sales or marketing professional, or have an entirely different job function, the modern B2B professional is mobile. They don’t just need to stay connected – they need to stay informed and opportunistic, too.”
The company has filed for an initial public offering in 2020, hoping to raise as much as $500mn. With the current uncertainty in stock markets due to the coronavirus pandemic, the company held off on any firm date for the offering.