Angel investor Rajesh Dembla has invested an undisclosed amount in Bengaluru-based customer experience management (CEM) company Survaider for a minority stake.
Rajesh Dembla is a well-known angel investor. He has been instrumental in the success story of Justdial, having worked at the company for over a decade, and was an early investor in Dunzo among other companies.
With his experience working with small teams and massively scaling them, the company expects to scale internationally at an accelerated pace and avoid critical mistakes.
Founded in 2016 by Madhulika Mukherjee and Tushar Mishra, Survaider is a SaaS-based customer experience management platform. The software works as a plug-and-play SaaS solution which helps brands measure, understand, and improve customer experience.
On the investment, Rajesh Dembla said, “Gartner predicts that customer experience will become the key brand differentiator for businesses by 2020. Customer experience, which was once ‘nice-to-have’ has become the deal maker for businesses now. Most companies are now dedicating separate departments to optimise overall brand loyalty through customer experience. It would be safe to say that the customer might have been king, but today he is the god.”
Till date, the company has raised more than $500K, with last round of Pre-Series A from The Chennai Angels and Axilor Ventures.
Survaider: Using SaaS For Customer Engagement
By aggregating customer opinions from across channels like direct feedback, social media, review websites, CRM and helpdesks, Survaider, a full stack customer experience management suite, helps businesses measure loyalty and satisfaction of the customer, while also giving insights on improving service quality.
Survaider specialises in analysing feedback from customers so that the issue can be fixed at the pain point and the customer can be addressed immediately about remedial steps. This will give a consolidated view of the customer journey, helps in identifying points of revenue leakages and gives in-depth business insights.
Tushar Mishra, co-founder, Survaider, told Inc42, ” We are working to create a world where listening and acting on customer opinions is quick and intuitive. Survaider is the only solution which can aggregate all online and offline customer opinions to give a holistic view of customer experience”.
In FY17, the company has been working with 40 enterprise brands across Hotels, Restaurants, Gyms and retail with some of its marquee customers being Freshmenu, Barbeque Nation, Ginger Hotels, V resorts etc.
The company claims that it has doubled its revenues since last quarter and are growing at 30% MoM. The company looks to conquer markets across various industries which have a direct impact on the end consumer.
Talking about FY18, the founders told Inc42 that the company plans to scale to $1Mn ARR along with adding more geographies internationally.
Further, the company claims to have some revenues coming in from the middle east and the East Africa region.
Customer loyalty market in India is said to be a $1.3 Bn (INR 8,500 Cr) market. Other startups operating in the enterprise customer experience space are Cloudcherry, InLoyal, m’loyal, Qwikcliver and more.
As Rajesh Dembla comes on board as an advisor to Survaider, the two-year-old company has a huge market to address and can look to strengthen its portfolio services.
Update 1: 06/06/2019; 19:03 PM
JustDial reached out to Inc42 to clarify that Rajesh Dembla is not an investor in the company. We have amended the article to reflect the change. We regret the error.