Customer intelligence and marketing automation platform for eCommerce companies, Betaout Inc., has raised $1.5 million (about Rs 10 crore) from a group of investors including Beenext and Stanford Angels in the Pre Series A funding round. According to the statement by Betaout, this round also saw participation from investors including, Letsventure, Chennai Angels, Hyderabad Angels and Mumbai Angels, Match Group CEO Sam Yagan.
Sam Yagan, had also participated in the Betaout’s seed round funding through Corazon Capital. The amount raised in this funding round, will be used for customer acquisition in the Indian market and expansion in other Asian markets as well as for hiring professionals across technology, marketing and account management, the statement mentions.
The company will also focus on developing its mobile offering and other features on its platform like machine learning, conversation-commerce, among others features. Betaout has raised an amount of $500,000 in the seed funding round, from CEOs and founders of companies including Snapdeal, Paytm, Match Group, Groupon India, Freshdesk, Redbus, Slideshare, Goibibio, Shaadi, Slideshare and Better Inc.
Founded in October 2014 by Ankit Maheshwari and Mayank Dhingra, the company is based out of Noida and Chicago. Betaout provides clients real time big-data, segmentation-based on business rules and machine learning and omni-channel personalisation. Betaout’s target audience is Small Medium Business(s), which forms a huge market share in India. The tools of the company enables its customers to build marketing experiences for customers and drive more customer engagement and revenue.
Ankit Maheshwari, said in a statement:
“Our plans for 2016 include growing our existing customer base in the Indian market and expanding to other Asian markets including Indonesia and Malaysia,”
Betaout has been accelerated at TechStars Chicago 2015 programme, which is run by mentorship-driven startup accelerator TechStars. Betaout is only the second Indian company to be selected by TechStars, first being MartMobi which was acquired by Snapdeal recently.