On Monday, the parent company of the dating app TrulyMadly (1), TrulyMadly Matchmakers Pvt Ltd, stated that it had raised 8.1 .1 Cr INR in its Pre-series A round of funding. Angellist, The Chennai Angels, and Inflection Point ventures participated in the financing round. Other leading entrepreneurs of India, including Unacademy, Haptik, AirBnB, Innov8, and Times Internet, also poured in this round. The matchmaking startup stated that it would utilize the latest infusions to scale up its team, operations, and technology.
The matchmaking startup, TrulyMadly, was launched in 2014. In 2019, the company had promoted Snehil Khanor, one of the firm’s founding members, as a new CEO and Co-founder. Snehil has previously founded and sold FindYahan to Zimmber, which was later procured by Quikr. The previous co-founder of the Fella Homes also joined TrulyMadly as a co-founder and CTO in April 2019.
The team of TrulyMadly recently made a strategic shift in its target audience. The firm is now targeting its audience with a focus on singles looking for long-term and serious relationships. Since then, the startup has observed tripled monthly revenues along with new user additions per month.
TrulyMadly Aims to Align with Young Indians to Find their Partners
The startup has ramped up as a platform aligned with the choice and taste of today’s youth to find their partners. The startup team has given a lot of brainstorming before they come up with the new positioning. The company will continue to stress on user security and privacy. The state was made by Abhishek Shah, the Syndicate Lead of AngelList. He added that the growth in users and revenues made by TrulyMadly over the past two years made the investors believed that the startup is onto something big.
Sachin Bhatia, the former CEO of TrulyMadly, stated that there is a significant evolution in the dating culture of Indian society. He is proud of the team led by Snehil and Amit, Sachin added. Notably, Sachin is among the primary investor behind the new team while engaging in the latest round.