Ex- Freshworks executives led Highperformr.AI bagged the fresh capital in a seed funding round led by Venture Highway and with participation of Neon, DeVC and other angel investors
The startup’s first product, Highperformr for Teams, leverages generative AI and LLMs to help B2B businesses maximise their return on investment (ROI) on social media campaigns
The fresh capital will be deployed to further the startup's research and development activity, build the platform's native AI capabilities, and expand its distribution network
Highperformr.AI, a marketing SaaS startup floated by former Freshworks executives Ramesh Ravishankar and Srivatsan Venkatesan, has raised $3.5 Mn (INR 29.2 Cr) in a seed funding round led by Venture Highway, with participation from The Neon Fund, Matrix Partners-anchored DeVC and other angel investors.
Founded in July 2023, Highperformr.AI leverages generative AI and LLMs for a social media management platform that helps businesses maximise return on investment (ROI) from social media campaigns.
“95% of users who are not actively searching for products online are often overlooked in demand generation strategies. We’re flipping the script by focusing on the 95% of users who are not actively searching for products online and building a community and target audience that can drive meaningful engagement and conversions” Highperformr’s cofounder and CMO Ravishankar said.
The Chennai-based startup also announced the launch of its first product, Highperformr for Teams. The offering is poised to help B2B companies streamline their social media workflows, manage social publishing at scale, enable team collaboration, build brand awareness through employee advocacy, drive social selling, and monitor performance with social AI-driven analytics and insights.
The fresh capital will be deployed to further the startup’s research and development activity, build its native AI capabilities and expand distribution network.
“With the seed round of funding, and the positive response to our first product, Highperformr is set to shake up the social CRM market and build a product that will leverage LLM and GenAI technology to redefine how B2B companies engage with their audience and drive growth,” Highperformr’s cofounder and CEO Venkatesan said.
On the other hand, Venture Highway has been gradually expanding its portfolio of AI/ML startups. It has backed startups like Vaultedge, Ripik, EZDubs, Applied Intuition, Unstudio, SigTuple, and Ema, in recent times.
“The large TAM and the incumbents’ pre-GenAI era solutions leave a significant opportunity for Highperformr to innovate and disrupt the social CRM market,” said Priya Mohan, partner at Venture Highway.
India’s GenAI-backed startups have been gaining traction from a lot of investors off late. While funding raised by Indian GenAI startups between 2019 and 2023 may not look very appealing at only $580 Mn+, it must be noted that the space is ticking with opportunities. According to Inc42, the Indian GenAI space is projected to grow exponentially in the next few years, surpassing $17 Bn by 2030 from $1.1 Bn in 2023.
The impact of the sunrise industry is also being felt across industries. A large trend in industries like fintech, enterprisetech, healthcare, among others, has been companies introducing GenAI mechanisms in smoothening and automating how they communicate with their end customers.
Apart from communicating with the audience, brands are also utilising GenAI to increase personalisation in their marketing campaigns. At the Inc42’s ‘The GenAI Summit’, Bobble AI founder Ankit Prasad highlighted that the tech has allowed companies to generate real-time content and move away from a repository of content for marketing.
