Venture capitalist firm Saif Partners on Saturday announced investment of Rs 4.7 crore in a pre-series A funding deal with mobile crowdsourcing start-up platform Playment.
Playment is a Bengaluru-based venture that enables large companies to crowdsource completion of tasks that are typically done by in-house or outsourced teams (BPOs).It was launched in November 2015 by IIT-Kharagpur alumni Siddharth Mall and Akshay Lal, along with IIT-Guwahati alumnus Ajinkya Malasane.
“We’re building a platform where humans and machines can work together to solve problems which were previously unsolvable at scale. To be able to do that, we would be investing a lot in building a world class product and engineering team,”
Playment CEO Siddharth Mall said.
“While the platform (Playment) is still in early stages, its power lies in the ability to generate direct and recurring cash earnings for anyone with a smartphone within minutes of coming on the platform,”
Saif Partners Principal Mayank Khanduja said in a statement.
The raised funds will be leveraged for team expansion and to scale client deployments.
In the 8 months since launch, they have been able to generate over 5 million microtasks for some of the top ecommerce companies in the country and have a throughput capacity equivalent to a 1200+ seater BPO. The technology platform has tied up with companies such as Flipkart, Myntra, Paytm and Shopclues, and helps them assign their tasks through crowdsourcing such as making phone calls to an individual or business.
Upon completion, the players will earn certain points which they can redeem as Paytm Cash and gift cards of various shopping websites.
Mayank Khanduja, Principal, SAIF Partners, said,
“While the platform is still in early stages, it’s power lies in the ability to generate direct and recurring cash earnings for anyone with a smartphone within minutes of coming on the platform. India is a fast growing emerging market with lots of ambitious people and we believe the masses would get addicted to Playment. “
It is currently working with Indian ecommerce companies to enable completion of micro-tasks such as meta tagging of photos, product categorization, clean up of product profiles etc. For eg: Merchants bulk upload apparel catalogues, and then a person has to do up to 15 quality inspections on each and every SKU submitted before its gets published.