SUMMARY
• The company plans to use the fund to ramp up product innovation and R&D efforts
• Narvar plans to scale their business in India over three years
• They also look forward to R&D wing in Bengaluru
San Francisco and Bengaluru based post-purchase customer engagement platform Narvar has raised $30 Mn in a Series C Funding Round led by existing investor, the California based venture capital firm Accel (formerly known as Accel Partners).
Accel had also earlier led the Series A round in Narvar.
Other existing investors like U.S. based Battery Ventures along with new investors Salesforce Ventures and Scale Venture Partners also participated in the funding round.
With this new round of funding, the company plans to ramp up the product innovation and R&D efforts and also increase the hiring to support its growing offices around the world.
Along with the funding, partner at Accel, Ryan Sweeney will also join Narvar’s board.
Narvar: The Journey So Far
Narvar, founded in 2012 by Amit Sharma is a customer experience platform that helps engage customers at a time of high anticipation and build long-term loyalty with their customers.
Amit recognised a huge opportunity for brands to deliver exceptional post-purchase customer engagement. So far, Narvar have helped retailers realise this vision for more than 300 Mn people.
At the same time, ecommerce adoption has skyrocketed — in fact, more than 70% of adults online have interacted with Narvar through the retailers it supports, and Amit anticipates this will continue trending up.
“We’ll use this new investment to continue developing leading products for our customers while investing heavily in international growth to support global brands,” he added.
Here are some key facts about the company:
- Doubled its revenue and employee headcount in the last 12 months
- Added more than 100 brands, including Costco and Lululemon
- Expanded its global footprint into APAC and EMEA — opening a London office and making its first leadership hires in Germany.
- Currently serves 500+ retailers like Sephora, Patagonia, Home Depot, Gap, and Bose
- Claims to have served approximately 5 Bn customer interactions across 38 countries and in nearly 50 languages.
Narvar’s Future Plans For India
In an email interaction with Inc42, the Narvar spokesperson stated that the company plans to scale its business in India over the next three years. It further plans on directing a significant part of its investment towards data analytics and grow R&D wing in Bengaluru and also expand its product technology.
According to Narvar, they see a great growth opportunity in India and has also established platforms in the country.
The company hopes to onboard their first set of e-commerce and retail clients by the end of the September.
Last year, Narvar had acquired Indian logistics company GoPigeon in a hope to expand its market position in the Asia-Pacific region.
