AI-powered personalization platform Fibr raises $1.8 million led by Accel

Fibr, an AI-powered personalization platform, has raised $1.8 million in a funding round led by Accel, a prominent venture capital firm.

The round also saw participation from 2am VC and angel investors, including Kunal Shah, founder of Cred, and Sunil Kumar, ex-cofounder of Zenoti.

Prior to this round, the startup raised $2 million in a seed funding round in February 2023.

Enhancing AI personalization platform

The startup plans to use the raised capital to enhance its AI personalization platform, expand its customer base, and recruit new talent. This includes hiring engineers, product marketers, and sales and go-to-market (GTM) experts. 

What products does Fibr offer?

Founded in January 2023 by Ankur Goyal and Pritam Roy, Fibr offers a flagship product called Pilot, which aims to improve conversion rates by creating personalized landing pages for every ad, email, SMS, notification, or other communication. 

"Most personalization tools out there are pretty outdated. They’re usually good at one thing – maybe web, ads, or email – but miss the big picture. They’ll throw in some generic pop-ups, stick names in emails, or run basic A/B tests. That’s not real personalization," said Goyal.

The startup is also developing a second product called Blocks, which is in its beta version.

Blocks will help marketers scale their content across various formats, such as converting a high-performing Facebook ad into a blog post, Google ad, or social media post.

Serving notable companies

Fibr caters to lead-generation clients in sectors like insurance, broadband, home improvement, and consumer services. Some of its high-profile clients include ACT Fibernet and Star Health.

The startup is currently focused on markets in the US, Canada, and India, with plans to expand into Europe.

"For us, the US is the major focus, but we also think that Europe would be a great focus because we are very aligned with general data protection regulation (GDPR). I think by the end of this year, we should be 60-70% in the US, 10-20% in India, and maybe starting in Europe," Goyal added.

"We believe Fibr’s landing page for every ad proposition could be a gamechanger in the ad ecosystem for consumer companies, especially with customer acquisition cost (CAC) challenges due to privacy policies and cookie deprecation. Fibr’s affordable sachet pricing model, where users only pay for usage, disrupts traditional SaaS pricing, making it accessible for all marketers," said Prayank Swaroop, Partner at Accel.