Privyr, a Singapore-based startup that helps consumer-facing salespeople and businesses convert leads right from their phones, has raised US$6 million in Series A funding round to expand its product capabilities, increase market penetration, and scale its team from less than 10 employees to over 40 within a year.
“We’re excited to take Privyr to the next level with this funding and look forward to expanding our offerings across more regions and customer segments. India’s digital transformation during the pandemic has accelerated the move toward online customer interactions, which now happen mostly through WhatsApp,” said Aaron Lim, Co-founder & CEO of Privyr.
The round was led by MassMutual Ventures and Vulcan Capital, with participation from Wavemaker Partners, bestselling author Nir Eyal, and former Facebook executive Gwendolyn Regina. Previously, the startup had raised $900,000 in funding from Wavemaker Partners, Entrepreneur First, and several angel investors.
Privyr builds a mobile-first sales productivity and workflow management tool that helps salespeople and small businesses better engage and convert their leads into clients through channels like WhatsApp, SMS, iMessage, and phone calls.
The startup goal is to make sales interactions more personalized and convenient, leading to much better customer experiences and sales conversion rates. Their mobile app works with popular chat apps like WhatsApp, SMS, iMessage, emails, and phone calls, as well as lead sources such as Facebook Lead Ads, TikTok Lead Generation, Google ads, and website contact forms.
“We strongly believe that customers still want human relationships, but adding a chatbot in between you and your client removes that connection. With Privyr, we provide an easier and more efficient way for businesses to personalize engagements and manage customer relationships from their phones,” Aaron adds.
The startup claims that over 45,000 sales professionals across more than 75 countries use its platform. Additionally, The app has helped businesses receive and engage with over 20 million leads from sources such as Facebook, TikTok, and Google. Privyr says it is growing exponentially with over 30% of customers and 20% of its workforce based in India.
“There’s incredible demand for simple, mobile-based solutions targeted at individuals and SMEs – particularly in developing markets where sales primarily happen on mobile and WhatsApp,” explained MassMutual Ventures Managing Director Anvesh Ramineni.
“Privyr’s solution addresses a massive pain point in the sales process and the fact that the company has come this far with zero sales or marketing staff is a testament to the widespread appeal of such a product.”