Overview
Steli Efti is a Greek-German entrepreneur and CEO of Close, a sales CRM software company that has grown to $17 million in annual recurring revenue without external funding.[4] He co-founded Close in 2013 after pivoting from ElasticSales, a sales-as-a-service business that served over 200 venture-backed startups.[1]
Efti is known for his unconventional approach to sales and follow-up, including sending 48 follow-up emails to a single investor and applying to Y Combinator seven times before acceptance.[6][9] He has become a prominent voice in the sales software industry through speaking engagements and podcasting.[7]
Close employs approximately 156 people and operates as a bootstrapped company after raising only $500,000 in initial funding from SV Angel and Spark Capital in 2013.[1][4]
Early life and education
Efti was born in Greece and raised in Germany in a family of factory workers with no higher education background.[8] He dropped out of high school at age 18 and began his entrepreneurial career at age 17.[8]
At age 23, Efti moved to Silicon Valley with a one-way ticket, describing himself as "fairly clueless" about the startup ecosystem.[8] He applied to Y Combinator seven times before being accepted into the Winter 2011 batch with SwipeGood, a charitable micro-giving platform.[6][3]
Career
Supercool School (2006–2011)
Efti's first major venture was Supercool School, an online education platform he founded and led as CEO for five years.[9] The company ultimately failed, providing early lessons in entrepreneurship that would inform his later ventures.[9]
SwipeGood and ElasticSales (2011–2013)
After joining Y Combinator's Winter 2011 batch with SwipeGood, a charitable micro-giving platform, Efti quickly pivoted to ElasticSales, a sales-as-a-service business.[3][1] ElasticSales provided outsourced sales services to venture-backed startups, eventually serving over 200 companies.[1]
The experience running ElasticSales revealed inefficiencies in existing sales software tools, leading Efti to identify the market opportunity that would become Close.[1]
Close (2013–present)
In 2013, Efti co-founded Close as a sales CRM designed specifically for inside sales teams.[1] The company raised $500,000 in funding from SV Angel and Spark Capital but has operated as a bootstrapped business since then.[1]
Under Efti's leadership as CEO, Close has grown to $17 million in annual recurring revenue and employs approximately 156 people.[4] The platform integrates calling, emailing, SMS, and sales automation tools designed to help startups and small businesses close more deals.[1]
Efti has become known for his aggressive but professional follow-up approach, including sending 48 follow-up emails to a single investor who eventually responded positively.[9] His sales philosophy centers on persistence without being "whiny, needy or apologetic."[9]
Recognition and public engagement
Efti is a regular keynote speaker at major technology and sales conferences, including Business of Software, where he presented "The Art of Selling Software."[7] He has been featured in podcasts and interviews discussing sales methodology and startup growth strategies.[2][5]
His unconventional path to Y Combinator acceptance after seven applications has become a case study in persistence within the startup community.[6] Efti has documented this experience in blog posts that have been widely shared among entrepreneurs.[6]
Public statements
References
- Close.io Raises Funding From SV Angel, Spark Capital To Improve Communication For Salespeople — TechCrunch, April 2013
- Close.io CEO Steli Efti on the rights and wrongs of lead qualification — Intercom, March 2015
- Close.io (YC W11) Raises Funding From SV Angel, Spark Capital To Improve Communication For Salespeople — Y Combinator, April 2013
- Close.io Revenue 2024: $17M ARR (Bootstrapped) — GetLatka, January 2024
- Building the House You Want to Live In with Steli Efti of Close — Indie Hackers, August 2019
- My Seven Attempts to Get Into Y Combinator — Close, May 2018
- Steli Efti: The Art of Selling Software – Business of Software — Business of Software, September 2016
- Close.io CEO Steli Efti Reveals the 80/20 Principle for Building a 7-figure SaaS Business — Leveling Up, March 2017
- A Founder With Two Businesses Teaches Hustle - with Steli Efti — Mixergy, November 2016