Gurugram-based online community of verified parents and real-time trusted advice, Parentune has raised an undisclosed amount of funding from Kae Capital and Singapore-based Segnel Ventures.
The raised funds will be utilised towards building personalised support for parents, with technology, data and intelligence at the centre of Parentune’s scale up. Also, there are plans to launch the network in Hindi and other languages.
The company had earlier raised an undisclosed amount in a funding round led by Kae Capital in December 2o14.
Vidushi Kamani, Venture Partner at Kae stated, “There are low entry barriers in this segment. Parentune stands out as a parenting network that brings true value to its members. It has grown organically by listening to its users and enabling real-time and meaningful advice and support through its platform. This is what gives Parentune its differentiated value propositon.”
Founded in 2012 by Nitin Pandey and Pottu Venugopal, the startup aims to support parents with real-time trusted advice, and validated solutions. The platform provides information & solutions, around parent’s concerns and interests for their child.
According to an industry analysis shared by Parentune, there are 334 Mn children between pregnancy to 12 years in India alone with 668 Mn parents. As Nitin said, “We see Babytech as a big impact opportunity. Our vision has been to be the must have support for parents and we are excited to be moving in that direction.”
The platform has two streams of revenue – the Brand revenues and the pro-parent services, i.e. value added services for parents.
- The team claims to have a 6X growth in last one year, with more than 3 Mn sessions monthly across its website, mobile site and mobile app.
- The network also recently crossed the one million verified parents milestone. Though the majority of the users are from India, the network also has parents from UAE, UK, Singapore and US as well.
- With more than 90% user-generated content, the platform has an engagement of 9-10 min per session.
- The company has close to 5,00,000 downloads on Google Play Store and is witnessing a 50%+ MOM growth mainly through parents’ referrals and word of mouth on social media.
Venugopal shares, “A parent looks for information & solutions, around his/her concerns and interests for his/her child. Each parent has a personalised version of Parentune to herself and that makes our support useful and valuable. We achieve this through HOTSPOT, Parentune’s trends analytics & listening IP and going forward, we are working on making this support more intuitive without giving away the validated nature of solutions on Parentune. It means real-time intelligence with an improved response mechanism for parents. Parentune technology team shall innovate and iterate the Parentune support for best results. This shall perhaps be unique and a first such in multiple ways.”
Other similar startups in this space are ZenParent, ParentsIndia, and India Parenting.