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Logik.io, a Chicago-based next-gen software company that simplifies complex sales processes with headless operation configuration, today announced it has raised over $10 million in seed funding.
Logik.io claims its modern configuration solution extends CPQ (configure, price, quote) tools, which help companies generate quotes for orders. Logik.io says it provides logic, math calculations, and more, and works on top of Salesforce’s CPQ tools and and other ecommerce applications.
The company says its headless operation differentiates it by allowing it to power any front-end user interface via APIs, and says it’s significant because many businesses today have disparate and siloed configuration data models — for example, one to power CPQ, one to power ecommerce, and one to power order management. While several enterprises streamline their quote-to-cash processes with Salesforce CPQ, opening up ecommerce selling channels and sharing accurate information with enterprise resource planning (ERP), doing so with supply chain applications still remains challenging. In a press release, Logik.io says it is making this possible by overlaying the headless configurator on top of Salesforce CPQ, available on the Salesforce AppExchange.
Logik.io CEO Christopher Shutts gave a broader context on the company’s technology and new funding direction to VentureBeat via email.
Faster than traditional CPQ
According to Shutts, Logik.io’s proprietary solving engine allows for faster performance than traditional CPQ tools. He said the company’s technology enables more complex configurations than traditional engines can handle — delivering a better experience for end users, as well as ensuring businesses can maintain all their configuration logic in one system.
“Unlike traditional configuration models, our proprietary solving engine (rules engine powering the CPQ logic) was purpose-built to automatically and more efficiently manage configuration rules in the optimal order. In traditional CPQ rule engines, performance and speed of loading and processing within CPQ suffers severely because they are built with more legacy linear rules-based processing. This can make extremely complex configuration nearly impossible without Logik.io,” he added.
Logik.io claims its solution is designed to work with today’s ecommerce solutions “to provide guided selling and configuration to B2B and B2C self-service selling.”
With Logik.io, Shutts claims B2B and B2C self-service selling companies can easily build and maintain their data models once and reuse them across all applications. “We are building a truly innovative technology for companies looking to improve their CPQ experience and enable B2B ecommerce,” Shutts told VentureBeat.
“We know both buyers and sellers demand speed and convenience throughout the sales process, and Logik.io delivers on that promise with lightning fast selection and configuration tools,” he added.
CPQ and omnichannel use cases
Logik.io says its technology has applications in sales, helping sales teams to augment their Salesforce CPQ with a configuration tool that offers speed, advanced configuration logic, and a simple, intuitive administration. This eliminates the need for complex integrations, allowing companies to optimize their CRM capabilities with all their data in one place, the company said.
For B2B and B2C omnichannel selling, Logik.io says its headless robust rules engine integrates with all major ecommerce platforms, enabling companies to sell high-complexity products online via existing self-service digital commerce platforms. This allows companies to use a data set for all their product configuration use cases, further streamlining overall IT architecture.
This investment round was led by High Alpha with participation from Salesforce Ventures and other private investors. Logik.io says this additional capital will be used to accelerate its product development strategy as well as support the growth of its go-to-market engine into 2022.
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