- SaaS-based startup inFeedo has raised $3.2 million in an oversubscribed round.
- The startup will use the funding to invest in incredible individuals driven by curiosity to unlock its next phase of growth.
Gurugram-based SaaS (software-as-a-service) startup inFeedo has raised $3.2 million (or about Rs 24 crore) in an oversubscribed round after Y Combinator's Demo Day that took place in August this year.
The current funding led by early-stage venture firm Bling Capital and its founder Benjamin Ling, formerly a general partner at Khosla Ventures and had executive roles at tech giant companies such as Google and Facebook.
Other investors, including Simon Yoo (former MD at Citibank APAC), Maninder Gulati (CSO at OYO), Munish Varma (MD - EMEA at Softbank), Girish Mathrubootham (Founder at Freshworks), and others also participated in the funding round.
The startup will use the funding to invest in incredible individuals driven by curiosity to unlock its next phase of growth.
In December 2016, The startup first raised $150K (or about Rs 1 crore) in an angel round from Redcliffe Capital, Tracxn Labs, Palash Jain, Ambarish Gupta (Co-Founder of Knowlarity Communications), and Apextend Advisors.
Following in August 2020, inFeedo had raised over $700K (or about Rs 5.2 crore) from LetsVenture, Y Combinator, and a group of angel investors.
Y Combinator is an American seed startup program that invests in potential startups twice a year. The program aims to provide to get startups in the first phase of growth.
Till date, The startup has raised over $4 million in a total of two funding rounds.
Also Read: Footwear Brand Rapawalk Raises $300K From Inflection Point Ventures
"I'm extremely grateful to see the kind of wealth we've been able to create during a pandemic for our employees and investors, who stuck with us through thick and thin," said Tanmaya Jain, Founder & CEO, inFeedo.
Commenting on the investment, Benjamin Ling, says, "We're very excited about our investment in Amber and inFeedo. First, the timing couldn't have been better from a market perspective — employers are looking for ways to better connect with and empower their employees."
He further said, "inFeedo's customers are delighted across the board from CEOs, CHROs to HRBPs to receive the kind of employee insights they do from Amber which they otherwise wouldn't. Third, Tanmaya, Varun, and the team at inFeedo demonstrate the tenacity and vision to build a multi-billion dollar company."
According to the reports, The startup has also given partial exits worth $1.1 million to its early investors and former employees.
Further, inFeedo claims to have 300k users across more than 50 countries with over 100+ customers, including Tata Group, Lenovo, Airtel, Puma, AXA, OYO, ITC, and others.
According to Gartner, An IT service company, SaaS Solutions will generate $105 billion in revenue by the end of this year, which is more than $20 million compared to the previous year.
About inFeedo - inFeedo is a Gurugram-based SaaS solution startup founded in 2013 by Tanmaya Jain. The startup provides an employee-experience bot that can have conversations with remote employees and can predict workers who are not engaged or about to leave.
Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.