Breaking news

1Mind Secures $30 Million Series A To Transform Inbound Sales With AI

1Mind, an emerging leader in AI-driven sales technology, has raised $30 million in a Series A round led by Battery Ventures. This milestone, which brings the company’s total funding to $40 million, underscores the growing investor confidence in leveraging large-language model (LLM) powered agents for sophisticated sales processes.

Innovative Approach To Inbound Sales

Unlike traditional AI sales tools that focus on cold outreach through emails and calls, 1Mind’s flagship agent, Mindy, is purpose-built to drive inbound sales engagements all the way to closing deals. Developed by co-founder Amanda Kahlow, a recognized veteran in sales and marketing technology and former CEO of 6Sense, Mindy augments self-service websites and replaces the traditional sales engineer on enterprise calls. The system is designed to integrate seamlessly into the customer journey, providing support from initial inquiry to onboarding.

Deterministic AI: Reducing Errors And Enhancing Trust

Underpinning Mindy’s capabilities is a blend of advanced large-language models, including those from OpenAI and Google Gemini. However, 1Mind differentiates its approach by utilizing deterministic AI to mitigate inaccuracies. This method ensures that once Mindy ingests corporate sales materials, it delivers consistent, reliable responses without deviation, thereby addressing one of the main concerns associated with AI-powered interactions.

Proven Success And Enterprise Adoption

After a year of continuous operations, 1Mind has earned the trust of over 30 enterprise clients, including industry leaders such as HubSpot, LinkedIn, and New Relic. With contracts averaging six figures annually, the firm has reshaped traditional sales models by providing services that replace outdated roles like the sales engineer and customer success representative, while still preserving the critical account executive relationship.

Redefining Investor Engagement

In an innovative twist, Amanda Kahlow has taken 1Mind’s AI further by creating a digital avatar of herself. This avatar was even deployed during venture capital pitches, where it played a pivotal role in navigating complex data rooms and addressing detailed queries on case studies. As Battery Ventures’ Neeraj Agrawal noted, the nuanced conversation design of the avatar contributed to a seamless dialogue, blurring the lines between human and machine interactions.

The Future Of Agentic Sales

Kahlow envisions a future where AI agents not only enhance traditional sales roles but eventually replace certain functions altogether. While current market dynamics still demand human involvement for high-stakes enterprise agreements, the evolution toward autonomous agent-to-agent transactions appears imminent. In the meantime, 1Mind continues to expand its team, boasting a workforce of 44 employees and actively recruiting for additional sales positions.

Conclusion

With a robust funding round and a clear vision for the future, 1Mind is set to redefine how companies approach sales engagements. By harnessing deterministic AI and innovatively integrating digital avatars into investor relations, 1Mind not only challenges the status quo but also paves the way for a new era in enterprise sales technology.

Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

  • Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
  • Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
  • Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
  • Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.

eCredo
The Future Forbes Realty Global Properties
Uol
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter