#USA #New York #AI Technology #Industrial Equipment #Corbel

Corbel's Major Leap in Industrial Sales

Corbel, an innovative operating system harnessing the power of artificial intelligence, has proudly announced its successful Seed funding round of $6.7 million, aimed at revolutionizing sales processes within the industrial equipment sector. This promising venture is spearheaded by a group of influential investors, including Ibex Investors, Joule Ventures, Restive Ventures, and Selah Ventures.

The Surge of Industrial Equipment and AI Adoption

The industrial equipment market is projected to exceed a trillion dollars by 2030, solidifying its significance in the global economy. A recent survey highlights that over half of procurement leaders view AI as a transformational tool, particularly in enhancing procurement processes and managing supplier risks. However, despite such advancements, approximately 70% of manufacturers are still heavily reliant on manual data entry, outdated tools, and traditional quoting methods. This reliance hampers operational efficiency, slows down sales cycles, and limits growth potential. Corbel aims to bridge this gap by converting chaotic product data into actionable, AI-driven insights that simplify the buyer's journey from initial exploration to final purchase.

Transforming Sales Experience

As Le'ora Lichtenstein, Co-Founder and CEO of Corbel, states, "We are developing the essential framework that reshapes how industrial equipment sales are conducted. With an AI-driven and data-oriented approach, we focus on delivering personalized solutions at scale. The goal is to allow sales teams to dedicate their efforts to relationship-building and finalizing deals rather than being bogged down by administrative tasks. Corbel integrates detailed product intelligence into every phase of the sales process, providing teams the necessary digital fortitude to secure more business."

Corbel's platform is built upon a foundation of extensive product intelligence, incorporating rigorous training on each manufacturer's unique machine data, encompassing everything from product catalogs to technical specifications and sales communications. By analyzing vast amounts of unstructured data, Corbel creates a solid sales intelligence framework, enabling sales teams to offer targeted recommendations, highlight relevant upsells, and provide customized financing options. This leads to significant benefits for manufacturers, including shorter sales cycles, enhanced conversion rates, and increased overall sales value.

Journey to Innovation in Industrial Manufacturing

Aaron Rinberg, a partner at Ibex Investors, has emphasized Corbel’s critical innovation in industrial manufacturing, stating that their platform represents a significant leap towards modernizing a sector that has been slow to adopt new technologies. By seamlessly integrating into current sales workflows and facilitating flexible payment options, Corbel aims to enhance the quoting and purchasing experience for both buyers and sales representatives effectively.

The implementation of this technology has already begun to yield results, with Corbel powering configuration, quoting, and financing for eight manufacturers across diverse sectors, such as metalworking and woodworking. In just six months since launching their comprehensive sales platform, Corbel has broken records by processing over $60 million in quoting volume and facilitating an impressive $1.7 million in financing across 41 transactions, boasting an industry-leading approval rate of over 90% on customer financing applications.

Real-World Impact

As Scott Donahy, VP of Sales Marketing at Piranha Fabrication points out, the challenge of having deep knowledge of various machines has been mitigated by Corbel’s platform. Sales representatives, equipped with instant, data-driven recommendations, can now sift through vast datasets effortlessly, which would traditionally take them months to analyze manually. This capability has empowered sales teams to focus on meaningful customer interactions, ultimately fostering stronger relationships that lead to successful deal closures.

Plans for Future Growth

With the newly acquired funding, Corbel is poised to enhance its engineering and go-to-market teams, invest in AI capabilities, and scale deployments with leading Original Equipment Manufacturers (OEMs) throughout North America. The drive towards revolutionizing the industrial supply chain using AI continues, signaling a promising future for both Corbel and the industrial equipment industry at large.

About Corbel

Founded in 2022 by Le'ora Lichtenstein and Dor Litay, Corbel is committed to transforming the industrial equipment landscape with its AI-driven Configure, Price, Quote (CPQ) system that integrates financial solutions to expedite the sales of high-ticket items. With a focus on maximizing efficiency while minimizing disruptions in existing sales operations, Corbel leverages technology to empower industrial sales teams to increase deal closures and revenue generation. For further information, please visit Corbel.