GapMinder Ventures Allocates EUR 2 Million Towards a Romanian AI Business Focused on B2B Sales Automation
Romanian AI firm Salestools secures €2 million investment from GapMinder Fund II for global expansion
The tech-focused investment fund GapMinder has announced a €2 million investment in Salestools AI, an artificial intelligence company based in Romania that automates the B2B sales process through digital agents.
Salestools AI's solution identifies potential clients and interacts with them 24/7, conducting deep research, automating outreach via LinkedIn and email, and handling responses and objections. Founded in 2015, the company is led by Loredana Qvist as COO and Jesper Qvist as CEO, both experienced entrepreneurs in sales.
Loredana Qvist boasts a career of over 20 years in sales, holding positions at Big Four firms such as Deloitte and EY before founding Salestools AI. Jesper Qvist brings over 10 years of sales experience, holds an MBA, and M.Sc. in innovation and business development, as well as a strong track record in building Software as a Service (SaaS) companies. The Qvists have successfully exited two SaaS businesses in the past, and are building Salestools to scale globally from Bucharest.
GapMinder is the sole investor in this round. The funding will be used to scale the engineering team in Bucharest to build the next generation of AI Sales Agents and establish a Revenue Intelligence Network. The core product, the Automated SDR (Sales Development Representative), is an intelligent agent that automates and enhances the sales process, with key features including prospecting, visitor tracking, response, and objection handling.
According to Jesper Qvist, the integration of AI in sales development is leading to more efficient operations, as research shows that AI is increasingly automating tasks traditionally handled by junior to enterprise sales representatives. The Salestools team aims to build the world's first autonomous network powered by Artificial Intelligence to generate revenue, through digital agents that enhance the work of traditional sales development representatives (SDRs), optimizing every step of the sales cycle.
Salestools AI currently has 8 employees in Bucharest and aims to grow to 20 by the end of 2025 and 80 by the end of 2026. The company's revenues largely come from US-based enterprises. With this investment, Salestools AI will focus on building Agentic AI agents and an intelligence network with customers, preparing for its entry into the US market.
[1] Salestools AI press release, 2023[2] Crunchbase, 2023[3] Entrepreneur magazine, 2023[4] Romania Insider, 2023[5] GapMinder press release, 2023
The investment from GapMinder Fund II will aid Salestools AI, an artificial-intelligence company based in Romania, in scaling its engineering team to build the next generation of AI Sales Agents. Salestools AI's solution, an autonomous network powered by Artificial Intelligence, aims to optimize every step of the sales cycle by enhancing the work of traditional sales development representatives, thereby incorporating artificial-intelligence technology into sales development for more efficient operations.
