Business leads from Fortune 500 Companies to Startups Under One Roof: Openmart Powered by AI
Founded by Kathryn Wu and Richard He, Openmart aims to simplify the complexity of finding and selling to retail outlets. Powered by AI technology they create a comprehensive database under one roof, to help automatically find high-compatible local business leads, from Fortune 500 companies to local statups.
Openmart is making waves in the startup world as it aims to simplify the process for enterprises seeking to sell to local businesses. Co-founded by Kathryn Wu and Richard He, the company uses innovative AI technology to create a comprehensive database of local businesses, providing essential information about potential sales leads. The idea for Openmart emerged from Wu’s own challenges while running her milk tea business, OhTea . Faced with difficulties in connecting with local grocery stores and gift shops, she struggled to gather the necessary contact information, which prompted her to seek a solution to this widespread issue.
Wu, previously a product engineer at Pinterest, partnered with He, a fellow intern from the same company. Their collaboration was fostered by a shared passion for entrepreneurship and a love for their pets. They discovered that the challenges Wu experienced were not unique; large enterprises also faced similar hurdles when trying to engage local markets. This revelation led them to refocus Openmart’s mission to cater to both small businesses and larger enterprises struggling to navigate these complex sales waters.
Openmart functions by leveraging AI to scrape data from numerous sources, such as public business filings, maps, and customer reviews. Users can easily search for specific types of businesses and the platform generates a curated list of sales leads, complete with contact information. This approach not only saves time but also enhances the productivity of sales teams.
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With recent funding of $2.75 million in a seed round from notable investors like Y Combinator, Openmart is set to transition out of its beta phase and expand further. The founders are keen on developing their core focus on local businesses while also eyeing opportunities in larger enterprises and medium-sized companies in the future. As Openmart establishes itself as an expert in connecting enterprises with local businesses, it looks poised to redefine engagement strategies in this crucial market sector.
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