The startup plans to deploy the funds for hiring, product development, tech innovation, research, and global expansion
Gurugram-based WhatsApp marketing startup enables businesses and ecommerce companies to design campaigns and marketing strategies for a wide range of customers
The startup plans to enter the markets of the Middle East, Southeast Asia, Latin America, and Europe, over the next two years
WhatsApp marketing and automation startup, QuickReply.ai has raised $1.14 Mn in a seed funding round led by Leo Capital which invested $0.75 Mn in the startup. The rest of the amount was invested by Pentathlon Ventures, GSF, and investors including Deepak Diwakar (cofounder, MindTickle), Azhar Iqubal (cofounder & CEO, Inshorts), and Dinesh Agarwal (founder & CEO, IndiaMART).
QuickReply.ai plans to deploy the funds for hiring, product development, tech innovation, and research and development. In addition, the startup is also looking forward to investing the money for global expansion through marketing. It further looks forward to penetrating the markets of the Middle East, Southeast Asia, Latin America, and Europe, over the next two years.
Commenting on the funding round, Hridayesh Gupta, cofounder & CTO, QuickReply.ai said, “As a company operating in the communication-tech space, we recognise that WhatsApp is poised to disrupt traditional methods of business communication such as SMS, email, and push notifications. By leveraging the unique capabilities of WhatsApp, we believe that we can empower businesses to build stronger and more personalised relationships with their customers.”
Founded in 2021, by Himanshu Gupta and Hridayesh Gupta, the Gurugram-based WhatsApp marketing startup enables businesses and ecommerce companies to design campaigns and marketing strategies for a wide range of customers.
Some examples of its offerings include converting COD orders to prepaid ones, customer engagement, regaining lost customers, announcing offers, etc. Depending on the target audience and analysing their behaviour from several sources, the startup enables businesses to personalise campaigns and messages.
According to QuickReply.ai, business success is highly dependent on customer retention, and studies have shown that boosting customer retention can help companies increase profit by anywhere from 25% to an impressive 95%.
The startup notes that the likelihood of an existing customer making purchases is 60%-70%, while that of new customers is only somewhere between 5%-20%.
This year, the professional social networking platform LinkedIn crossed the 100 Mn users mark. While announcing Microsoft’s earnings, CEO Satya Nadella noted that the marketing handle of the social networking platform has been significant in driving revenue generation.
According to a recent study by marketing, sales and consumer research firm OOSGA, though only 43% of Indians access the internet, their average time on social media is approximately 2.6 hours daily. This makes it pretty easy to understand why ecommerce platforms are increasingly leaning towards social media to gain the attention of potential customers.