Noida-based Betaout, an ecommerce marketing software startup, has raised $1.5 Mn in its Pre-Series A round of funding from cluster of investors including Beenext, Stanford Angels, LetsVenture, Chennai Angels, Hyderabad Angels, and Mumbai Angels.
The round also saw participation from Match Group CEO, Sam Yagan who had invested in Betaout’s seed round funding through Corazon Capital.
Betaout was founded in October 2014 by Ankit Maheshwari, Raghubir Thakur, Mayank Dhingra, Arjun Maheshwari and Nandini Rathi. It enables ecommerce businesses to increase conversions and personalise user engagement using real-time user persona and intent data. The company’s revenue model is based on a monthly recurring subscription that is determined by the number of addressable contacts and messages sent.
How Betaout Helps Ecommerce Businesses
- Increase sales
- Build brand affinity
- Retain their customers
- Increase customer lifetime value
- Ability to do all this efficiently and quickly
The startup will use the capital for customer acquisition as well as expansion in other Asian markets. “Our plans for 2016 include growing our existing customer base in the Indian market and expanding to other Asian markets including Indonesia and Malaysia,” said, Ankit Maheshwari, CEO and co-founder.
Apart from that, the funds will also be used to hire professionals across technology, marketing, and account management. The startup is also focusing on developing its mobile offering and other features on its platform such as machine learning, conversation-commerce, etc.
Betaout’s tools enable its customers to build amazing marketing experiences for their customers, and drive more customer engagement and revenues. “Betaout’s product gets to the heart of all ecommerce marketers’ goal, which is to help them have an understanding of the customer that the product or service speaks for itself. Betaout through a single tool is helping its customers achieve the same and we are enthused to be part of their journey. “ said Teruhide Sato Founder and Managing Partner at Beenext.
In its earlier seed round, Betaout had raised $500K from a distinguished group of CEOs/founders of companies including, Snapdeal, Paytm, Match Group (okcupid, Tinder), Groupon India, Freshdesk, Redbus, Slideshare, Goibibio, Shaadi, Slideshare, Better Inc, etc.
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