SaaS-based analytics startup inFeedo (1) has raised around $700k in its Series A funding round led by Y Combinator and other Indian founders and CEOs, including Ritesh Malik, Founder at Innov8, and Peyush Bansal, CEO at Lenskart also participated in the round.
The 2013 founded startup will be utilizing the freshly raised funding to double down on hiring and fill up its key management roles, including that of Chief Operating Officer, Chief Financial Officer, and Chief Technical Officer. It also plans to expand its customer base to generate revenue worth $10 million.
Some of the other investors who participated in the Series A funding round were Vinod Muthukrishnan, CEO at Cisco-acquired Cloudcherry, Anand Chandrasekaran, ex-Snapdeal CPO & Facebook Director, Sunder Nookala, CEO at OC Tanner-acquired Kwench, Anil Advani, CEO at Inventus Law, and 100x Entrepreneur Fund.
inFeedo has also been selected for Y Combinator’s Summer 2020 batch that is taking place remotely, keeping in mind the current COVID-19 situation.
inFeedo’s AI bot- Amber
Tanmay Jain, CEO & Founder at inFeedo, while talking about the development said that in spite of running the cash-flow positive business, the company’s main aim was to fundraise during the COVID-19 pandemic so as to double down in Southeast Asia and build a leadership team that helps its customers connect remotely with their employees better and come out of the pandemic stronger than before.
Founded by Tanmaya Jain, inFeedo has launched its employee experience bot called Amber in 2016 that helps with HR functions of global organizations. Amber has the ability to have conversations with remote employees and predict employees who are disengaged or about to leave.
As per inFeedo, Amber presently engages with over 3 lakh employees at more than 100 organizations, with a minimum workforce of 150+ around the globe and is currently being used by firms including Puma, ITC, Nivea, OYO, Unilever, Airtel, Lenovo, Britannia, among others.